Developing renewable and clean technology companies in New York
Wednesday, June 30, 2010
$29.5 million in NYSTAR budget extends matching grants program
The $68.2 million FY 11 budget approved last week for the New York State Foundation for Science, Technology and Innovation (NYSTAR), allows the foundation to continue to provide 10 percent matching funds for research institutions and businesses in order to attract federal, private and industry funds. The budget allocates $29.5 million in FY11 for a matching grants program started with ARRA stimulus funding and $5.2 million for the state's six Centers of Excellence.
The appropriation is scaled down from Gov. David Paterson's original budget recommendation that would have provided $100 million for the program. The NYSTAR budget also includes $1.5 million for state matching funds for the Manufacturing Extension Program and $343,000 for the Research Development Program.