Department of Defense and U.S. Small Business Administration Announce First Licensed and Green Light Approved Funds for the Small Business Investment Company Critical Technology Initiative
The Department of Defense (DoD) and the U.S. Small Business Administration (SBA) announced the first licensed and Green Light Approved Funds for the Small Business Investment Company (SBIC) Critical Technology Initiative (CTI). This initiative aims to support small businesses developing critical technologies for national security.
What is the SBIC CTI?
The SBIC CTI is a program that provides funding and support to SBICs that invest in small businesses developing critical technologies for national security. The program is designed to accelerate the development and commercialization of these technologies.
What are the first licensed and Green Light Approved Funds?
The first licensed and Green Light Approved Funds are:
- In-Q-Tel SBIC L.P.
- Revolution’s Rise of the Rest Seed Fund II L.P.
- DCVC Bio LP
- DCVC Green LP
What does this mean for small businesses?
The licensing and Green Light Approval of these funds means that they have met the requirements of the SBIC CTI program. This makes them eligible to receive funding from the DoD and SBA to invest in small businesses developing critical technologies for national security.
What are the benefits of the SBIC CTI for small businesses?
The SBIC CTI offers a number of benefits for small businesses, including:
- Access to capital: SBICs can provide small businesses with access to capital that they may not be able to get from traditional sources.
- Technical assistance: SBICs can provide small businesses with technical assistance to help them develop and commercialize their technologies.
- Market access: SBICs can help small businesses connect with potential customers and partners.
How can small businesses apply for funding from the SBIC CTI?
Small businesses can apply for funding from the SBIC CTI by contacting one of the licensed and Green Light Approved Funds. The funds will review applications and make investment decisions based on the criteria outlined in the SBIC CTI program.
Conclusion
The SBIC CTI is a valuable program that can help small businesses develop and commercialize critical technologies for national security. The licensing and Green Light Approval of the first funds is a major step forward for the program and will make it easier for small businesses to access the funding and support they need.
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