We have $5 million a year to give, which isn't that much. But the companies only have to wait a few months from the time they apply until the award is given, and we're really looking for those with potential for business development -- and that can make an economic impact in the state. |
We want to foster the development of technology out of our universities and industrial labs and bring them to the marketplace. |
We're really interested in the high-tech start-ups; companies literally started in garages, basements, university labs and spin-offs from bigger businesses. They are the ones that need cash desperately and can't go to the venture capitalists or the banks unless they want $5 million, or have a prototype ready or a fully developed process. |