Nine startups with roots in Vanderbilt have received more than $ 4.5 million in federal innovation research grants for small businesses and technology transfer for small businesses and matching funds from Launch Tennessee, in the aim to accelerate the commercialization of technology, innovation and job creation across the state.
The Wond’ry, the Vanderbilt Innovation Center, and the Technology Transfer and Commercialization Center have contributed to the growth of startups in a variety of capacities, from helping with ideation and R&D to facilitating disclosures. inventions and marketing services.
Three startups on the list, ARMS Cyber ââDefense Inc., Couture Technologies and Very Real Help Inc, were founded by the Vanderbilt community and made in Wond’ry. CTTC has worked with four listed companies, EndoTheia Inc., IDBiologics Inc., Virtuoso Surgical Inc. and Yaya Scientific LLC. And HeroWear LLC and SkyNano LLC have worked with both Wond’ry and CTTC. The founders of these startups encompass Vanderbilt faculty, alumni, staff, and students.
âPrograms like the SBIR / STTR Matching Fund Grants from Launch Tennessee are of critical importance to universities and research institutes in helping to leverage investments made by federal agencies through the SBIR and STTR programs. The matching fund grants have benefited a significant number of startups that have their roots at Vanderbilt, âsaid Peter Rousos, Director of Economic Development and New Businesses at CTTC. âWe congratulate Launch Tennessee and the State of Tennessee for supporting this program which has created jobs and fostered the growth of high-tech industries statewide. “
âFrom cutting-edge surgical robots to new mental health support services that use virtual reality, the Wond’ry team couldn’t be happier to see these founders grounding their businesses in Tennessee. These technologies have the potential to impact millions of lives and provide jobs in the knowledge economy for the people of Tennessee, âsaid Deanna Meador, director of entrepreneurship at Wond’ry. âDeep tech companies can often be capital intensive. With the support of the SBIR / STTR program and the LaunchTN matching fund, these innovations and the people who support them are much more likely to not only survive, but also thrive.
The SBIR and STTR programs are among the most important sources of non-dilutive start-up capital for the commercialization of technology in the United States. They allow small businesses with high commercialization potential to engage in research and development at the federal level. The programs, overseen by the National Institutes of Health, invest more than $ 1 billion in health and life science companies to translate promising early stage technologies into consumer markets.
Launch Tennessee is a public-private partnership with a vision to make Tennessee the most startup-friendly state in the country, giving entrepreneurs what they need to successfully start businesses and create jobs in Tennessee. According to Launch Tennessee, companies that received their SBIR / STTR matching funds created more than 505 direct jobs and generated an economic impact of $ 146,125,214 in Tennessee, or a return of $ 11.24 for every public dollar invested. in the program.
“We believe these companies are developing technologies that can change the world, and we are delighted to support them in their efforts to innovate here at home to ensure we have a brighter, more competitive Tennessee tomorrow,” said Charles Layne, Innovation Manager at LaunchTN. .