The purpose of the fast program is to strengthen the technological competitiveness of small business concerns in every state

The Small Business Administration Office of Investments and Innovations awarded $125,000 to Mnsbir Inc. under the Federal and State Technology Partnership Program (FAST Program, CFDA #59.058) on September 30, 2022 for completion by September 29, 2023.

The purpose of the FAST Program award is to strengthen the technological competitiveness of small businesses in Minnesota by improving their participation in innovation and commercialization of new technologies. Mnsbir Inc. will work to foster economic development among small, high-technology firms in Bloomington, Minnesota through activities that ensure the United States remains competitive in research and development. Key services may include providing assistance to small technology companies for innovation and commercialization of new technologies, as the FAST Program aims to address variance across states in supporting small business technological competitiveness.

Congress has found that there is much variance within state technology programs that foster economic development among small high-technology firms. Therefore, this program intends to improve the participation of small technology firms in the innovation and commercialization of new technology; thereby ensuring that the united states remains on the cutting edge of research and development in the highly competitive arena of science and technology