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'We must invest in our future': Kentucky program awards small, technology-based businesses

Gov. Andy Beshear said innovative companies are growing at an impressive rate in Kentucky.
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LOUISVILLE, Ky. — Seven small, technology-based businesses in Kentucky were awarded grants as part of a state program Friday according to a press release from the Governor’s office.

The $899,070 in grants are part of Kentucky’s nationally recognized Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Matching Funds Program. The funds will match $8.71 million in federal grants the businesses will receive according to the release.

Gov. Andy Beshear said innovative companies are growing at an impressive rate in Kentucky.

“Our SBIR-STTR Matching Funds Program provides Kentucky companies with an incredible opportunity to turn their game-changing ideas into cutting-edge products, while also creating quality jobs in some of our country’s most high-paying fields,” said Beshear. “To continue the economic momentum we are currently experiencing, we must invest in our future.”

The companies that were awarded grants are:

To date, Kentucky companies awarded through the SBIR/STTR program have created more than 700 well-paying jobs with 45% having annual salaries over $50,000.

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