Thursday, May 19, 2022

Business

State funding available to help small businesses with growth & improvement projects

BALBIR SINGH | January 19, 2022 01:49 AM

INDIANAPOLIS: The Indiana Small Business Development Center (SBDC) today announced applications are open for the Indiana Technical Assistance Program (INTAP) through Feb. 20, 2022. This statewide initiative connects small businesses with critical professional assistance to complete growth and improvement projects, according to Indiana Economic Development Corporation, .

"INTAP helps small businesses grow and thrive by helping them complete critical growth projects they might not otherwise be able to pursue, " said Indiana SBDC State Director and Vice President of Small Business David Watkins. "Small businesses can utilize this program for a variety of professional assistance, everything from product prototyping to inventory control systems. I strongly encourage small business owners to learn more about this program and see how it could help take their business to the next level."

Through INTAP, eligible small businesses may apply to receive up to $15, 000 in professional services from a qualified vendor to complete growth and improvement projects that require specialized assistance or technical expertise such as app or technology development, intellectual property legal assistance and grant writing assistance for the Small Business Innovation Research and Small Business Technology Transfer (SBIR/STTR) programs. The program is administered in partnership with Ivy Tech Community College Bloomington's Cook Center for Entrepreneurship, which houses the South Central Indiana SBDC regional office.

INTAP has assisted 128 businesses with completing projects since the program was launched in 2017, 68 of which were completed in 2021. To be eligible for INTAP, Indiana small businesses must meet the following criteria:

Be or become an Indiana SBDC client,

Have a physical presence in Indiana,

Use a vendor physically located in Indiana,

Be able to complete the project within five months and before Dec. 31, 2022,

Be an eligible project type, and

Be able to demonstrate a positive impact after completion, including but not limited to new job creation, increased production or sales, or new market expansion.

Indiana companies are encouraged to learn more about eligibility requirements and submit applications online.

Success Story: Lafayette-based startup Sunny (rebranded from Menstrual Mates) partners with developer to design data-informed self-care product

Hoosier Heartland Indiana SBDC client Sunny, a socially conscious self-care startup, delivers eco-friendly products, honest education and global giveback. The company utilized INTAP in 2021, working with Indianapolis-based product development firm Glassboard to finalize the design of its menstrual cup expected to launch by the end of 2022. Sunny also received investment from Elevate Ventures, Indiana’s venture development partner.

The Indiana SBDC, which is a program of the IEDC, helps businesses start, grow, finance, innovate, and transition through no-cost, confidential business advising and training.

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