Launch Tennessee Awards $7 Million in Matching Funds to 37 TN Businesses

NASHVILLE, TN – October 5, 2022 – Launch Tennessee (LaunchTN) unveiled this year’s SBIR/STTR Matching Fund grant recipients today, and we are excited to announce that Reliable MicroSystems is one of just 16 companies located in middle Tennessee (37 companies total in TN) to be awarded the LaunchTN SBIR/STTR Matching Fund Grant for 2022!

Developed and administered by LaunchTN, the SBIR/STTR Matching Fund is a strategic initiative to advance the commercialization of technology innovation and job creation across the state. Launch Tennessee received more than 60 applications to the SBIR/STTR Matching Fund this year, accounting for over $12M in program demand, and identified Reliable MicroSystems as one of the 37 companies which would help further their initiative of advancing Tennessee as a hub for technology development. 

This grant is awarded to companies LaunchTN has identified as those who are early stage, high-tech, high-wage companies with great potential for continued success.

To date, Tennessee companies awarded SBIR/STTR Matching Funds have created over 650 direct jobs and have leveraged matching funds to raise over $127M in follow-on investment capital while securing an additional $169M in federal contracts.

“We are thrilled to award this match funding to some of our most exciting Tennessee entrepreneurs and innovators” said Charles Layne, Innovation Manager, LaunchTN. “We thank Governor Lee and the Tennessee General Assembly for their continued investment in this vital program and look forward to the innovation and new technologies these companies will bring to our state that will benefit all Tennesseans.”

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