Empire State Development Awards $400,000 To Help Four New York Businesses Commercialize Cutting-Edge Technologies

State Innovation Matching Grants Build on Federal SBIR/STTR Awards to Accelerate Business Growth and Technology Commercialization

Empire State Development (ESD) today announced $400,000 in grants have been awarded to four New York-based businesses through Round 5 of the Division of Science, Technology and Innovation (NYSTAR) Innovation Matching Grants program. The initiative, launched in May 2024, is part of NYSTAR's ongoing effort to support the growth of small businesses and the development of cutting-edge technologies in New York State. To date, NYSTAR has awarded over $11 million to more than 90 businesses, having received hundreds of applications.

ESD President, CEO and Commissioner Hope Knight said, "Innovation is one of New York's greatest competitive advantages, and Governor Hochul is committed to ensuring our entrepreneurs have the tools they need to succeed. These matching grants help bridge the critical gap between research and commercialization, enabling small businesses to bring new technologies to market, attract investment, and grow right here in New York State."

The Round 5 awardees represent several strategic technology areas including wearable devices, cybersecurity, renewables, and clean technologies:

New York City

• ChemFinity Technologies, Inc. - Renewables/Clean/Green Technologies
• MilkShaker Inc. - Lifesciences / Biotechnology, Wearable Devices
• Mobile Defender Inc. - Communications, Sensors, Cybersecurity
• Sharper Sense, Inc. - Wearable Devices

NYSTAR Executive Director Ben Verschueren said, "True innovation requires resources and a sustained, supportive runway. With Round 5 of our Innovation Matching Grants program, NYSTAR is continuing to clear the path for early-stage companies to scale their operations. These grants give small businesses the financial agility they need to transform cutting-edge research into market-ready solutions, creating a more resilient, future-ready economy for all New Yorkers."

Companies that received funding from the federal government's Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs were eligible for up to $200,000 in matching grants from NYSTAR. The Innovation Matching Grants program ensures that SBIR- and STTR-supported projects in New York State receive additional support for commercialization services not covered by their federal awards, such as marketing and legal assistance. Awards are conditioned on the successful SBIR/STTR federal award and negotiation and execution of a Grant Disbursement Agreement.

NYSTAR's Innovation Matching Grants program is one of several ways that New York State supports early-stage technology development and accelerates the path from research to market. These efforts directly contribute to business growth, job creation, and stronger regional economies statewide. NYSTAR's various resources - including Innovation Matching Grants, Centers of Advanced Technology, Centers of Excellence, Certified Business Incubators, Innovation Hot Spots and Manufacturing Extension Partnership centers - generate nearly $3 billion in economic impact, while creating or retaining almost 10,000 jobs, annually in New York State.

About Empire State Development

Empire State Development is New York's chief economic development agency, and promotes business growth, job creation, and greater economic opportunity throughout the state. With offices in each of the state's 10 regions, ESD oversees the Regional Economic Development Councils, supports broadband equity through the ConnectALL office, and is growing the workforce of tomorrow through the Office of Strategic Workforce Development. The agency engages with emerging and next generation industries like clean energy and semiconductor manufacturing looking to grow in New York State, operates a network of assistance centers to help small businesses grow and succeed, and promotes the state's world class tourism destinations through I LOVE NY. For more information, please visit esd.ny.gov, and connect with ESD on LinkedIn, Facebook and X.

About ESD's Division of Science, Technology and Innovation (NYSTAR)

Empire State Development's Division of Science, Technology and Innovation - known as NYSTAR - advances technology innovation and commercialization in New York State. NYSTAR offers programs that assist companies from start-up through maturity, leveraging the state's unparalleled investment in world-class technology assets and expertise. It provides about $70 million annually in funding to support over 80 centers that provide direct assistance to New York State companies - a network of vital assets for enabling technology - and manufacturing-led growth and job creation. NYSTAR and its partners are proud to contribute to New York's leadership in the global innovation economy. For more information, visit esd.ny.gov/nystar.

Contact:
ESD Press Office | [email protected] | (800) 260-7313