Business Oregon and the Oregon Innovation Council have partnered with 11 companies, including CEL, to help them leverage federal grant funding.
In addition to the Business Oregon grant CEL won earlier this year, the company has been awarded an additional grant for its Phase II SBIR work. CEL is one of 11 winners of this round of funding from Business Oregon and the Oregon Innovation Council. With this grant, CEL will leverage and optimize its recent SBIR Phase II funding. CEL will first use these grant funds to support technical feasibility analysis. Second, funds will support engineering costs of building management system controller, database, and automation workflows. Finally, the grant will fund marketing and customer engagement and training.
Many agencies within the federal government offer Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) grants. These two grants stimulate technological innovation. They also provide opportunities for small businesses to conduct research and development with commercialization potential. This funding does not dilute business ownership, preserving control and flexibility for entrepreneurs. Therefore, these grants, known as "America's largest seed fund," are highly beneficial to companies looking to get off the ground.
However, SBIR and STTR grants leave gaps in critical areas. They are unable to get early-stage companies to the point of producing revenue and becoming viable businesses. SBIR funding, for example, helps develop a product but can’t fund many critical elements to create and scale a business. To address these gaps and increase the business’s chances of success, Business Oregon offers matching grants that complement the federal program. The grant is available to any Oregon company that has received SBIR or STTR funding. In 2020, companies in Oregon won nearly $45 million in SBIR/STTR funding.
Business Oregon, the state's economic development agency, invests in Oregon businesses, communities, and people to promote a globally competitive, diverse, and inclusive economy. The agency's services span rural community development and infrastructure financing; business retention, expansion and recruitment; export promotion and international trade; investments in industry research and development and entrepreneurship; small business assistance; and support for arts and cultural organizations.
“Business Oregon, through Oregon InC, is pleased to award nearly $1 million in investments to Oregon businesses and projects focusing on innovation. We are optimistic that these funds will catalyze new innovations and give Oregon-based companies and teams a competitive advantage as they commercialize their ideas and products,” said Kate Sinner, Innovation and Entrepreneurship Manager at Business Oregon.