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Launch Tennessee awards $9 Million in SBIR/STTR Matching Funds to 40 small businesses, driving Tennessee innovation

Each company received an initial competitive federal grant to accelerate innovation

Nashville, TN – Launch Tennessee (LaunchTN), the startup support organization funded by the Tennessee Department of Economic Development, announced the distribution of $9 million in awards to 40 cutting-edge Tennessee companies through its FY25 SBIR/STTR Matching Fund program.

This vital initiative, now in its eighth year, has become a cornerstone of Tennessee’s thriving technology and innovation landscape. This year, the program saw an impressive $13.4 million in demand, highlighting the growing research and development (R&D) landscape within the state.

“The consistent demand for the SBIR/STTR Matching Fund underscores its critical role in supporting Tennessee’s innovation economy,” LaunchTN CEO Lindsey Cox said. “It’s time to make a sustained and continued investment in this program, which has proven itself as an invaluable resource for our companies and delivers great ROI for our state. The SBIR/STTR Matching Fund has been instrumental in building the vibrant entrepreneurial community we see today, and its continued support will be vital for future growth and success.”

FY25 SBIR/STTR grant recipients
LaunchTN is proud to announce the following companies as recipients of the FY25 SBIR/STTR Matching Fund:

• East Tennessee: EarthEn Energy Inc., Ce-Ri-SS Materials LLC, Sentinel Devices LLC, Endeavor Composites, Inc., SkyNano, Winter Innovations, Ultrasonic Technology Solutions, Eonix LLC, Holocene Climate Corporation, Daxor Corporation, Cinco Research Corporation, perseus materials, Veracity Nuclear, LLC, FC Renew, LLC, Safire Technology Group, Inc., Eden Concepts, Statheros, eSpin Technologies, Inc., CrossLink Composites, Inc., Whisper Aero.
• Middle Tennessee: Pedia-Dose, Vibronyx, Inc., Arena Labs, RTT, Robotic Technologies of Tennessee, Decode Health, EndoTheia, Inc., Enexor BioEnergy, Amalgamated Vision, LLC, ARCS Aviation, VoluMetrix LLC, Covert Defenses LLC, Yaya Scientific, LLC, Reliable MicroSystems, Infusense.
• West Tennessee: Glanris, Inc, Oak Ridge Therapeutic Discovery, LLC., Immuno Technologies, Inc., SEAK Therapeutics LLC, NeuroDyne, Inc., Tavo Biotherapeutics, Inc.

About the SBIR/STTR Matching Fund
The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs are highly competitive federal grant programs that encourage domestic small businesses to engage in the research and development of innovative technologies with the potential for commercialization. LaunchTN’s SBIR/STTR Matching Fund amplifies the impact of these federal programs by providing matching funds to Tennessee businesses that have been awarded SBIR or STTR grants.

“Tennessee’s SBIR/STTR Matching Fund is a key economic development program that supports Tennessee innovations as we seek to bring them to market and create high quality, high tech, high wage jobs in our state,” said Charles Layne, Sr. Technology Advancement Manager at LaunchTN. “It’s clear that this program is essential to support our state’s innovative and growing companies as they strive to bring their groundbreaking technologies to market.”

For questions about the SBIR/STTR programs or how your company might get involved, please contact Allyn Abadie (allyn@launchtn.org) or visit https://launchtn.org/sbir-sttr-application-support/.

SBIR/STTR Matching Fund fast facts

• Companies participating in the program have collectively generated 1,046 jobs.
• Companies in the program have leveraged an additional $375 million in grants and $420 million in follow on capital.
• Sixty percent of these companies have achieved post-revenue status, collectively generating more than $127 million in annual revenue.

About Launch Tennessee
As Tennessee’s hub for startups and innovation, Launch Tennessee’s mission is to empower innovators across Tennessee by providing capital, commercialization and connections. As a public-private partnership, we are uniquely positioned to provide direct investment, while also supporting collaboration among founders, investors, researchers, the private sector and government.