Since its inception in 1953, SBA has served to aid, counsel, assist and protect the interests of small businesses.

While SBA is best known for its financial support of small businesses through its many lending programs, the Agency also plays a critical role in providing funding to organizations

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that deliver technical assistance in the form of counseling and training to small business concerns and nascent entrepreneurs in order to promote growth, expansion, innovation, increased productivity and management improvement.

The mission of SBA’s Office of Innovation & Technology, which bears responsibility for administering the FAST Program, is to strengthen the technological competitiveness of small businesses across the country through coordination of the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs.

The FAST program focuses on increasing the participation of small firms in the innovation and commercialization of high risk technologies, keeping the United States on the cutting edge of next generation research and development.

The Federal and State Technology (FAST) Partnership Program provides one year funding to organizations to execute state/regional programs that increase the number of SBIR/STTR proposals (through outreach and financial support); increase the number of SBIR/STTR awards (through technical assistance and mentoring); and better prepare SBIR/STTR awardees for commercialization success (through technical assistance and mentoring).