News
Empire State Development Awards $400,000 To Help Four New York Businesses Commercialize Cutting-Edge Technologies
Overview
Empire State Development awarded $400,000 through Round 5 of NYSTAR’s Innovation Matching Grants program to four New York City businesses including MilkShaker Inc. (biotech/wearables). The grants match federal SBIR/STTR awards, covering commercialization costs like marketing and legal support that federal funding excludes. NYSTAR’s broader network of innovation programs generates nearly $3 billion in annual economic impact and supports almost 10,000 jobs across New York State.
The Big Picture
New York’s innovation funding ecosystem keeps deepening, and this round is a great example. NYSTAR’s Innovation Matching Grants are designed to carry SBIR/STTR-funded startups the last mile — covering the marketing, legal, and go-to-market work federal dollars don’t. With $11 million already deployed to 90+ companies since 2024, this program sits alongside flagship efforts like Bolstering Biotech and Biogenesis Park as another on-ramp for life science entrepreneurs. For New York’s biotech founders, it’s one more sign that state resources are stacking up to support every stage of the commercialization journey.
