Walton Family Foundation continues funding for Science Venture Studio
More good news for technology-focused start-ups in Arkansas, thanks to support from the Walton Family Foundation.
Roughly two years after Science Venture Studio (SVS) was launched with support from the foundation and others, SVS has been awarded a two-year extension and will now be administered directly by Winrock International, a nonprofit whose mission is to empower the disadvantaged, increase economic opportunity and sustain natural resources.
As described in this news release, SVS works with early stage S&T companies to secure non-dilutive federal research funding ─ critical front-end cash that enables companies to conduct necessary research and development on their technologies, and which does not require companies to forfeit any equity. Funds are awarded on a competitive proposal basis through the Small Business Innovation Research and Small Business Technology Transfer programs. Successfully obtaining and managing the funds is a complex and challenging process, especially for start-ups.
SVS was launched in 2020 with funding from the Walton Family Foundation in collaboration with Startup Junkie, Winrock’s Innovate Arkansas, Northwest Arkansas Council, and the University of Arkansas Office of Entrepreneurship and Innovation. So far, the organization has helped companies secure more than $3.5 million in non-dilutive federal research funding, and the extension is targeted to double that amount over the next two years.