Virtual Incubation Helps Nanomech Win SBIR
by March 15, 2004 12:00 am 68 views
Virtual Incubation Corp. in Fayetteville has helped more companies get working capital through Small Business Innovation Research program grants during the last 1.5 years than the entire rest of the state has in the last five years combined.
VIC provides clients with multitiered management, operational, research and fundraising support. It takes an equity stake in the firms and derives some fees from the SBIR awards it helps get.
It struck federal-grant gold again in February by helping client company Nanomech Inc. win its third Phase I SBIR award. The latest grant for $80,000 follows two previous Phase I SBIR awards totaling $200,000. It’s the 13th SBIR award VIC clients have received since January 2003.
Nanomech, a creator of coatings that carry unique and desirable properties for nanotechnologies (super small structures), stands to qualify for more than $1.25 million in Phase II funding.