Date: June 18, 2007
Contact: Eric Matanyi
Governors State University
Phone: (708) 534-4044
Fax: (708) 534-8399
For Immediate Release
University Park, IL, June 18, 2007 - CenterPoint at Governors State University announced today that it will offer Small Business Innovation Research (SBIR) resources.
The SBIR program encourages small businesses to explore their technological potential. CenterPoint’s goal in establishing the SBIR resources is to provide local businesses with the opportunity to fund new research and product development with a goal towards the commercialization of their new products.
“This addition of these services will complement our current resources and will allow CenterPoint to continue to be the comprehensive regional resource for businesses,” said CenterPoint director Hilary Burkinshaw.
Studies have shown that new innovations are most prevalent in the entrepreneurial sector of today’s economy. However, the risk and expense of conducting serious research and development efforts are often beyond the means of many small businesses. SBIR programs target that sector by working to remove common barriers to assist the largest group of innovators and reserves a specific percentage of federal research and development funds for qualified businesses.
“The community and region will benefit greatly because offering these additional services will allow us to assist with the critical startup and development stages, encourage the commercialization of new technologies, products, and services, and ultimately, stimulate the economy,” Burkinshaw noted.
The program has three phases. Phase one involves a feasibility study to evaluate the scientific and technical merit of an idea. SBIR monetary awards of up to $100,000 are provided to qualified businesses. During the second phase, concentration is placed on expanding and developing the results from the first phase. Monetary assistance for periods of up to two years is available in amounts up to $750,000. The third phase focuses on commercialization of the ideas. Funding in the final phase is provided by private sector or non-SBIR Federal funding.
Over the past five years, CenterPoint has impacted business in the south suburbs by helping to create or retain more than 1,700 jobs. It has also assisted small businesses in securing over $58 million dollars in financing.
For additional information, call CenterPoint at (708) 534-6976 or visit www.centerpointgsu.com.