Local Biotech Firms Can Soon Apply for County Grants
Matching funds will support research and development in Montgomery County
VIA APPLIED BIOMIMETIC'S WEBSITE
Small biotech companies on Monday can start applying for matching grants from Montgomery County through a new program.
To qualify for the funding, businesses this year must have secured certain National Institutes of Health grants—called Small Business Innovation Research and Small Business Technology Transfer Phase I or Phase II grants, according to a county news release.
Through its new program, the county is offering 25-percent matches to the NIH funding and will provide up to $25,000 for Phase I grants and up to $75,000 for Phase II grants.
Eligible businesses must have more than half of their research and development operations based in the county, the release stated.
“This will help us to both retain and attract companies in the life sciences industry working on research and development projects,” Laurie Boyer, county economic development manager, said in a prepared statement.
The county will accept the applications on a first come, first served basis and will award funding to all businesses that meet the criteria. Officials will continue providing the matching funding until they exhaust the $425,000 budgeted for the program in fiscal year 2019.
Businesses can apply online for the grants.
Bethany Rodgers can be reached at email@example.com.