Tigard Biotech Innovates New Laboratory Testing
Tigard-based biotech startup AYUMETRIX is the newest start up to receive assistance from Business Oregon, the state’s economic development agency, to pursue federal grants designed to support small businesses whose research and development has potential for commercialization.
AYUMETRIX is preparing an SBIR Phase I application for federal funding through the Small Business Innovation Research grant program. The grants are highly competitive and designed for firms with the potential to move products from the R&D phase to the market.
Business Oregon wants more entrepreneurs and early-stage businesses to access these federal funds. Tigard-based AYUMETRIX received a Business Oregon “SBIR Phase 0 Grant.” This is a grant that helps firms prepare for the federal SBIR competition. The maximum grant award from the state’s economic development agency available to an entrepreneurial business with an innovative idea is $5,000. These funds help businesses prepare applications to compete for federal Phase I SBIR funds.
“Supporting innovative companies like AYUMETRIX in their pursuit of SBIR funds can grow today’s small companies into tomorrow’s larger employers,” said Mark Brady, Innovation Strategist at Business Oregon. “The SBIR program is a great way for early-stage companies to get funding to prove out their ideas and get their products or services closer to market.”
AYUMETRIX is a biotech startup in Tigard with a new dried plasma testing and laboratory diagnostics product. The firm’s product separates plasma from blood and allows for convenient and minimally invasive self-collection of blood through a simple finger pricks, storage and transportation of samples. This process also reduces risks of potential blood-borne infections. AYUMETRIX’s product allows individuals to take charge of their own health and wellness, advancing personalized medicine.
Tigard is home to more than 3,000 firms in every sector of the economy. AYUMETRIX is one of an innovative group of biotech firms that prefer a Tigard location.
The federal SBIR program supports small businesses by partially funding the initial stages of their business growth while bringing their technology or ideas to market. The program provides almost $3 billion annually to small businesses throughout the United States. Oregon businesses typically compete for and receive an average of $45 million in these innovation funds each year.
For more information about AYUMETRIX contact CEO and founder Dr. Sanjay Kapur at 503-819-6676.