County selects FedTech to vet commercialization applicants; $10 million job/innovation package drew 104 applicants

County officials briefed the Economic Development Committee on the administration’s commercialization and job‑creation funding program established by a $20 million FY24 supplemental appropriation. The appropriation created a $10 million set of competitive grants (technology innovation and founders funds) and a $10 million jobs program; the administration contracted FedTech as an outside commercialization reviewer to evaluate competitive applicants.

Officials said the competitive technology and founders grant call attracted 104 applicants for the $7 million technology innovation pot and $3 million founders fund. FedTech and a selection review committee evaluated eligibility and commercialization criteria. After eligibility screening and a staff request to applicants asking whether they could accept less than their requested amount, county staff reported they expected to fund many more companies than an initial pass implied — potentially expanding awards from an initial 35 recipients to closer to 70 recipients by moderating award sizes.

Program rules limit award amounts (applicants were told awards could be up to $200,000) and require a commercialization project plan, budgets, documentation of prior financing or work, and a minimum staffing threshold; awardees must complete an hour of coaching from FedTech, sign county grant agreements and report milestones. Staff said award disbursement will proceed in two parts: an initial payment of half the award after agreements and vendor registration, followed by reporting and remaining disbursement as projects achieve milestones over 8–18 months.

Committee members and staff noted lessons learned: the selection and evaluation process required significant county and contractor staff time (the county estimated thousands of person‑hours of due diligence and review), many applicants were ineligible under the initial criteria (for a range of reasons, including scope or funding history), and declined or ineligible applicants will be offered coaching and referrals where possible. Staff said the programs aim to support commercialization and earlier‑stage firms and that they will follow up to provide coaching and business‑liaison connections for applicants who were not awarded.

No formal award notifications had been issued at the time of the briefing; staff said they will notify awardees and return to the committee with a full list of selected companies, expected job impacts and an implementation plan for coaching and reporting.