RECORD SET IN FEDERAL TECHNOLOGY AWARDS

The New York State Office of Science, Technology and Academic Research issued the following news release:

Michael J. Relyea, Executive Director of the New York State Office of Science, Technology and Academic Research (NYSTAR), today announced that New York's small high technology businesses were awarded a record $106.2 million in Federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) grants in 2005, beating the previous record of $101.8 million set in 2004, and representing twice as much as companies were awarded ten years ago.

"It is clearly evident that our unprecedented programs to support high technology companies has created the necessary catalyst to foster the next generation of innovation and commercialization all across the State," Executive Director Relyea. "As these record-setting awards indicate, there is no better place for high-tech entrepreneurs to seek new research and development opportunities than right here in New York."

The Small Business Innovation Research/Small Business Technology Transfer Program (SBIR/STTR) is a highly competitive Federal R&D funding program that encourages small business to explore their technological potential and provides the incentive to profit from commercializing new technology. By enabling qualified small businesses to participate in the nation's R&D activities, high-tech innovation is stimulated and the United States gains entrepreneurial spirit as it meets its specific research and development needs.

In addition to the dollars awarded, New York also recorded a substantial increase in the number of companies receiving awards, up 14.5 percent since 2004, while at the same time most top-tier states saw a decline. New York received 308 awards in 2005, up from 269 in 2004. These awards went to companies all across the State.

New York's ranking of SBIR/STTR funds awarded has increased from ninth place in 1998 to fourth place in 2005 - with long-time SBIR champ Maryland winning third place by just $76,000. Since 1995, New York companies have received almost 2,000 SBIR and STTR awards totaling more than $682 million.

The increase in these critically important Federal technology development awards is proof positive that the Governor and the Legislature's high tech programs and initiatives have indeed fostered the types of innovations needed for future economic growth and opportunity. These hard-to-win, competitive industry awards play an important role in creating new technology-based jobs and building a stronger economy.

For its part, NYSTAR's nationally recognized SBIR/STTR outreach program has helped hundreds of companies to participate in this important national initiative. The SBIR/STTR program funds high-risk projects at the earliest stages of technology development - before companies can attract venture capital - and uses a three-phase approach to work with companies through development and on into commercialization of the technology.

Governor Pataki and the Legislature have advanced several major initiatives to expand high technology and biotechnology business and job-creation opportunities in New York. The Governor's Centers of Excellence initiative, along with Strategically Targeted Academic Research (STAR) Centers and Advanced Research Centers (ARCs), focus on critical emerging technologies that are expected to become major high-tech growth areas. Each Center is designed to complement other specialized academic centers in a seamless network of high-tech research and economic development.

Since 1995, the State has fostered the growth of New York's high-tech and biotech industries by supporting the investment of more than $1 billion in the State's technology business sector and its world-class research laboratories and academic centers.