TRDA To Help Rural U.S. Businesses Develop And Finance Energy-Related Products And Services

USDA grant leads to launch of a four-state program

MELBOURNE, Fla. - Florida's Technological Research and Development Authority (TRDA) recently received a $150,000 grant from the U.S. Department of Agriculture (USDA) to provide technology assistance to small, clean-energy businesses in rural regions of Florida, Louisiana, Mississippi and South Carolina. Now, business owners in these areas will be able to overcome technical challenges and tap into funding sources in order to improve and finance future energy-related products and services.

The TRDA will use the grant to launch a one-year, technology-based program known as "High-Tech Assistance for Rural Clean-Energy Businesses." The program will feature two components:  technical assistance and access to venture capital.

The TRDA will utilize one of its existing initiatives, the Space Alliance Technology Outreach Program (SATOP), to provide free technical assistance to clean-energy entrepreneurs using expertise from the U.S. aerospace industry.

"Since SATOP launched in 1995, it has actively focused on helping small businesses develop technologies," Chester J. Straub, Jr. executive director of the TRDA said. "This USDA grant program helps extend SATOP's reach into the clean- and renewable-energy business sector. We'll help them overcome their technical challenges and grow into strong, profitable companies dedicated to making America a more energy-efficient nation."

Under a second program component, TRDA will help connect small businesses with investment capital resources. Businesses will be introduced to the National Renewable Energy Laboratory's Industry Growth Forum, the largest venture event focused solely on companies developing clean-energy products.

The Forum showcases promising, early-stage businesses focused on renewable energy, clean energy and energy efficiency. Select companies present their business concepts, receive feedback and engage in dialogue with some of the nation's leading, most aggressive clean-energy investors. The event draws an array of industry professionals, creating a rich information-sharing and networking environment positioned to foster clean-energy economic development.

The TRDA will help small, clean-energy businesses from rural communities complete an application to participate in the Forum. "Having been involved in this event for the past few years, we know what applications get noticed," Straub said. The first four rural businesses invited to present at the Forum will receive an allowance to help underwrite the cost of attending the event.

To identify potential candidates for the "High-Tech Assistance for Rural Clean-Energy Businesses" grant program, the TRDA will work with existing agencies within each state, including USDA Rural Development State Offices, state energy offices, state agriculture offices, economic development organizations, financial institutions, universities, colleges and business incubators. Businesses located in Presidential Disaster Declaration areas, Native American communities, Rural Empowerment Zones, Rural Enterprise Communities and Rural Economic Area Partnerships will be given priority consideration.

About TRDA

Launched in 1987, the TRDA is an agency of the state of Florida that leverages federal, state and private resources to develop and implement technology-based programs in four target areas:  education, business incubation, energy and technology transfer. Since its inception, the TRDA has leveraged tens of millions of dollars in funding to support its education and economic development programs. By infusing new technology into businesses and schools, the TRDA helps to strengthen the economy and education throughout the state and nation. For more information, visit http://www.trda.org/.