active State Grant

Indiana FAST Program — SBIR/STTR Matching Grant

Indiana Economic Development Corporation (IEDC) / Applied Research Institute (ARI)

Up to $75,000 per Phase II award

Visit official program ↗ Get early access to matching

The short version

Indiana adds 50¢ per SBIR dollar to your Phase II

Indiana's Federal and State Technology (FAST) Partnership Program provides SBIR/STTR matching grants for Indiana-based small businesses with active federal SBIR or STTR awards. Indiana matches $0.50 per federal dollar on Phase II awards up to $75,000 per award ($150,000 lifetime maximum per company). Funding is for commercialization activities. IEDC partners with ARI to also provide proposal advising and training.

Funding type: Grant
Level: State
Amount range: $75,000
Realistic amount: Most FAST matching grants are between $37,500–$75,000, matching the typical federal Phase II SBIR allocation of $75,000–…
Deadline: Rolling — applications processed after federal SBIR/STTR Phase II award is received.
Status: active
States: IN
Payment model: advance

Who qualifies

Indiana-based small business concern (primary business location in Indiana)
Majority (>50%) of equity directly owned and controlled by US citizens or permanent resident aliens
Must have an active federal SBIR or STTR Phase II award from one of the 11 participating agencies
For matching grants: minimum Phase II federal SBIR/STTR award active
Lifetime matching grant cap of $150,000 per company (including subsidiaries)
Funds must be used for commercialization activities tied to the federal award

Hard requirements

Must be incorporated
51%+ US ownership required
Requires a prior Phase I award
Location restriction: Indiana

What it covers

Eligible expenses

Commercialization activities tied to the federal SBIR/STTR Phase II project
Business development, market research, and customer discovery for Phase II technology
IP licensing and patent activities related to Phase II technology
Technical development directly supporting commercialization
Hire of business development personnel (limited)

Ineligible expenses

Basic research activities that duplicate federal SBIR/STTR funding
General operating expenses unrelated to the Phase II commercialization
Capital equipment not directly tied to Phase II technology
Activities prohibited by the federal SBIR/STTR award terms
Amounts exceeding the $75K per-award or $150K lifetime caps

How to apply

1

Receive federal SBIR/STTR Phase II award

First, win a Phase II SBIR or STTR award from a qualifying federal agency. This is the prerequisite — FAST matches cannot be applied for without an active Phase II award. Use the Phase I proposal advising from IEDC/ARI while preparing your Phase II.
2

Contact IEDC or ARI to initiate matching grant application

Reach out to IEDC or the Applied Research Institute (ARI) after receiving the Phase II award. Provide documentation of the federal award (award letter, project description, amount) and confirm your Indiana business registration.
3

Submit FAST matching grant application

Complete the FAST matching application documenting: Phase II award details, commercialization plan, how Indiana matching funds will be used (allowed uses tied to commercialization), business financials, and Indiana operations confirmation.
4

Receive FAST matching funds and execute commercialization plan

Upon IEDC approval, receive matching funds (up to $75,000). Use funds for approved commercialization activities. Report on use of funds to IEDC as required by the grant agreement.

Insider tip

Engage IEDC/ARI BEFORE you write your Phase II proposal — the advising service is free and positions you to understand the matching grant opportunity. Many Indiana SBIR winners don't know the match exists until after the fact.

Deadline & timing

FAST matching grants are applied for after receiving a Phase II federal SBIR/STTR award. Contact IEDC or ARI (Applied Research Institute) for current application procedures. Phase I advising support is available at any time.

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Last reviewed 2026. GrantCompass is an independent funding-discovery tool and is not affiliated with any government agency. Always confirm details on the official program page.