New York Innovation Matching Grants Program: Up to $200,000 for SBIR/STTR Recipients
If your New York small business has received or is actively pursuing an SBIR or STTR federal award, the state will match it. The New York State Innovation Matching Grants Program, administered by Empire State Development's Division of Science, Technology, and Innovation, provides additional non-dilutive funding on top of your federal award to help you commercialize faster. Here is everything you need to know.
Who Is Behind It
The program is run by NYSTAR, the New York State Foundation for Science, Technology, and Innovation, operating within Empire State Development. NYSTAR's mission is to grow small businesses and support the development of new technologies across New York State. Since the program launched it has awarded more than $10 million across four rounds to small businesses in sectors ranging from life sciences and AI to clean energy and advanced manufacturing.
The Grant Amount
The program matches your federal SBIR or STTR award up to the following limits. For Phase I recipients, the match is up to $100,000. For Phase II recipients, the match is up to $200,000. In no case will the IMG Program funding exceed 50% of the federal award amount. Phase II and Phase III recipients also receive access to technical assistance resources alongside the financial match.
What the Funds Can Be Used For
IMG Program funds are specifically designed to cover expenses not allowed under SBIR or STTR. This includes business planning, commercialization activities, patent filing and prosecution, marketing studies, and sales efforts. The goal is to bridge the gap between federal R&D funding and actual market entry.
Who Is Eligible
To qualify your business must be a New York State small business as defined under New York State Economic Development Law Section 131 meaning it is resident in New York State, independently owned and operated, not dominant in its field, and employs 100 or fewer persons.
You must be actively in the process of applying for a Phase I or Phase II SBIR or STTR award from a participating federal agency, or have received an SBIR or STTR award since the closing date of the previous announced round or within the past 12 months, whichever is less.
You must currently operate your business in New York. Recipients must remain headquartered and operating or manufacturing in New York State for at least two years following the successful commercialization of the funded product. A clawback provision applies if this requirement is not met, though a waiver is available for businesses that cease operations before five years.
A single business may only submit one application per round and may not apply for a Phase I or Phase II award for which it has already received IMG Program matching funds.
When to Apply
The Innovation Matching Grants Program opens twice a year. Rounds open at 9:00 a.m. on the second Wednesday in October and April, and close the following Tuesday at 5:00 p.m. Each round is open for one week only.
Round 5 is currently closed. The next round is expected to open in October 2026. Monitor the ESD website at esd.ny.gov/innovation-matching-grants-program for the official announcement.
How to Apply
When a round opens, a digital application link is provided on the program page. Before applying, download and review the Program Guidelines, FAQ, Eligibility Template, and Application Template from the ESD website. Applications that are incomplete will not be processed.
For questions contact the program team at [email protected]
Apply when the next round opens: https://esd.ny.gov/innovation-matching-grants-program
BoostGrant helps technology companies and innovation-driven small businesses find the right funding programs and prepare applications that compete at every level. Get started at boostgrant.com
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