Program Supports Startup Companies in Receipt of SBIR or STTR Federal Grants

The City of Richardson is proud to announce the launch of a new economic development initiative is a pilot program aimed at fostering research, innovation and growth within the local business community. The Richardson Research Award Match Program (RAMP) is intended to complement the federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs and is designed to attract and support research and development in Richardson.

“The Research Award Match Program underscores Richardson’s dedication to continuing our role in the DFW Metroplex as a hub of innovation,” said Richardson Mayor Bob Dubey. “Backing local businesses in their pursuit of groundbreaking ideas is a strategic investment in the future success of our community and builds on our reputation as a place for big ideas and successful enterprise.”

Richardson’s pilot RAMP program was designed to empower small businesses to unlock their technological and economic potential. The program aims not only to facilitate research and development but also to support the eventual commercialization of emerging technologies.

“While RAMP funds are available to all research-focused, for-profit, privately owned small businesses located throughout the city, the program will be especially helpful in stimulating groundbreaking technology in the Richardson Innovation Quarter, or The IQ®,’ said City Manager Don Magner. “By providing additional financial assistance to startups that have proven strong potential for commercialization of R&D projects, we will continue to strengthen the IQ’s mission of being the premier tech hub in Texas.”

Richardson is among the state’s leaders in SBIR funding, and The Richardson IQ® is also uniquely developed to host start-ups and scale-ups due to its flexibility and affordability. Unlike other office parks or industrial parks in the region, The IQ® has a combination of both office and industrial space.

RAMP Program Features:

  1. Financial Support: The Program will provide matching grants to qualifying businesses, supplementing existing financial resources for research and development projects.
    a) Phase I eligible companies may qualify for up to $50,000 in Program funding.
    b) Phase II eligible companies may qualify for up to an additional $100,000 in Program funding.
    c) The total Program award funding available to a business (Phases I and II) is capped at no more than $150,000 per fiscal year.
  2. Innovation Focus: Emphasis will be placed on projects that demonstrate innovative solutions, cutting-edge technologies and advancements that contribute to the economic vibrancy of Richardson.
  3. Collaboration: The Program encourages collaboration between businesses, research institutions and the City, fostering a dynamic ecosystem that supports growth and development.
  4. Application Process: Interested businesses can apply through a streamlined application process on the economic development website, ensuring accessibility and efficiency in securing financial support for their projects.

RAMP Program Eligibility
RAMP will award funds to research-focused, for-profit, privately owned small businesses that have received federal SBIR or STTR Phase I or Phase II grants. It is intended to support startup companies that have a high potential for commercial viability. Recipients must be located in Richardson, or commit to relocating to and operating in Richardson, for a minimum of five years after receiving funds. Program eligibility and qualifications will be assessed at the end of the first year, and adapted as needed.

RAMP Program Application
Businesses interested in applying for the RAMP are encouraged to visit https://www.telecomcorridor.com for detailed information on eligibility criteria, application procedures and program guidelines.

About the City of Richardson
Home to the Richardson Innovation Quarter, or The IQ®, the City of Richardson is recognized for its commitment to excellence, its rich tech-based history and its bright future, all of which make Richardson a smart choice for residents and businesses. Known globally for its high-tech business leadership, the City of Richardson also offers a high quality of life, diverse array of neighborhoods, convenient Metroplex location, multi-modal transportation infrastructure and outstanding City services. Richardson has been repeatedly recognized as one of the top places to live and work by the national media, and the City remains dedicated to continuous improvement, as well as to the principles of open government and two-way communications with residents. To learn more, visit www.cor.net.