State helps SD companies seek research grants

AP News
Posted: Dec 08, 2011 1:15 PM
State helps SD companies seek research grants

State officials say they are expanding a program that helps South Dakota businesses seek federal funding for research and development.

The Governor's Office of Economic Development recently got a $55,000 federal grant that will be used to hire graduate assistants who will help businesses apply for research money from the Small Business Innovation Research program.

State Economic Development Commissioner J. Pat Costello says small businesses can apply for grants of up to $150,000 to study the feasibility of a new business technology, product or process. If the study shows the idea is feasible, a business can apply for a grant of up to $1 million to build a prototype and take the new product to market.

The program is aimed at projects that create solutions for specific federal government needs.