Four startups received $247,600 in funding this month from two new Wyoming Business Council grant programs designed to boost local innovators.
As a direct result of Kickstart:Wyoming and SBIR matching dollars, 17 jobs will be retained or created, with the potential for an additional 60 jobs in the next three years.
The two new grant programs developed from economic diversification legislation passed in the 2018 Wyoming Legislature. This is one of several bills created based on recommendations from the Economically Needed Diversification Options for Wyoming (ENDOW) executive council.
Kickstart:Wyoming provides $5,000 to $50,000 grants to Wyoming startups with fewer than 50 employees. Startups must commit to maintaining a meaningful nexus in Wyoming. The companies must also have potential to provide an economic return to the state of Wyoming through job creation, expanded tax base and diversification of the state’s economy.
The second program is the SBIR Phase I and II matching program, which provides matching funds for Wyoming companies who receive federal funds through the Small Business Innovation Research (SBIR or Small Business Technology Transfer (STTR) programs, intended to help small businesses conduct research and development.
Both programs are targeted toward companies with the potential for high growth through a globally unique concept, scalable product and business model and a large market.
The Business Council awarded $147,600 in Kickstart:Wyoming grants and $100,000 in SBIR Matching grants this round.
- Resono Pressure Systems ($100,000)
A small engineering firm in Laramie founded in 2016. The company builds systems for testing the pressure and aerodynamics of wind turbine blades to help make them more efficient.
Resono’s systems are built to withstand the harsh weather and extreme conditions under which industrial wind turbines operate.
- Beauty Scripts ($50,000)
Jackson founder Greta Eagan has developed the first digital monetization tool that empowers beauty professionals to leverage their expertise while building trust and wealth.
The money will be used to market the app and create new product features. They hope to gain 10,000 users by the end of year two.
- Livestock Wx – ($48,400)
A weather and climate data company in Evansville focused on the livestock sector. The company offers analytics about how weather and climate may affect livestock production down to the ranch level and, in some cases, a specific pasture.
- Simple Injection – ($49,200)
This Casper-based company created an electronic controller designed to measure pumping rates and other information from sensors, which allows oil wells to be monitored remotely.
Simple Injection expects to create 45 jobs in the next three years.
The Business Council’s six regional directors are working with individual applicants – both those who were funded and those who were not – to connect them with the resources they need. That network of resources includes local economic developers, the Business Resource Network, U.S.D.A and many others.
Kickstart:Wyoming and SBIR Matching grants are evaluated monthly and awarded on the first of each month. For more information, or to apply, please visit http://www.wyomingbusiness.org/startupwy.