Instapath has been awarded a National Science Foundation (NSF) Small Business Technology Transfer (STTR) grant for $225,000 to conduct research and development (R&D) work on a novel imaging technology for point-of-care biopsy evaluation.
The biotechnology company makes a digital microscope that provides an exact picture of cancer biopsies within seconds. Instapath helps cancer patients get a more accurate and efficient diagnosis, so they can begin receiving proper treatment as quickly as possible. “The National Science Foundation supports small businesses with the most innovative, cutting-edge ideas that have the potential to become great commercial successes and make huge societal impacts,” said Barry Johnson, Director of the NSF’s Division of Industrial Innovation and Partnerships. “We hope that this seed funding will spark solutions to some of the most important challenges of our time across all areas of science and technology.”
“We are grateful to receive the prestigious STTR award from the National Science Foundation to further develop our technology,” said Dr. Mei Wang, CEO of Instapath. “This award is validation of the team’s hard work and dedication toward delivering a faster, more exact solution for biopsy diagnosis to cancer patients.”
Once a small business is awarded a Phase I SBIR/STTR grant (up to $225,000), it becomes eligible to apply for a Phase II grant (up to $750,000). Small businesses with Phase II grants are eligible to receive up to $500,000 in additional matching funds with qualifying third-party investment or sales. NSF accepts Phase I proposals from small businesses twice annually in June and December. Small businesses with innovative science and technology solutions, and commercial potential are encouraged to apply. All proposals submitted to the NSF SBIR/STTR program undergo a rigorous merit-based review process.
To learn more about America’s Seed Fund powered by NSF, visit: https://seedfund.nsf.gov/ About the National Science Foundation’s Small Business Programs: America’s Seed Fund powered by NSF awards $200 million annually to startups and small businesses, transforming scientific discovery into products and services with commercial and societal impact. Startups working across almost all areas of science and technology can receive up to $1.5 million in non-dilutive funds to support research and development (R&D), helping de-risk technology for commercial success. America’s Seed Fund is congressionally mandated through the Small Business Innovation Research (SBIR) program. The NSF is an independent federal agency with a budget of about $7.8 billion that supports fundamental research and education across all fields of science and engineering.