Wyoming
State Resources
Wyoming’s economic development agency is the Wyoming Business Council. Its charge is to “to encourage, stimulate and support the development and expansion” of the state’s economy, which it accomplishes through leadership, policy, and business and community investments. Highlighted below is a sample of what the Business Council does to support new ventures in the state.
CO-WY Engine Translation Program
Wyoming Business Council is one of the partners of the NSF-funded Colorado-Wyoming Regional Innovation Engine, the Colorado-Wyoming Climate Resilience Engine, known as CO-WY Engine. The 10-year CO-WY Engine project focuses on investments in advanced sensing and computation. The Translation Grant Program offers $250,000 – $750,000 per project/technology to accelerate the commercialization of innovations into commercial products, services, or solutions that promote environmental resiliency. To be eligible, companies must have received less than $20 million from grants and investors, have an annual revenue of less than $2 million, and have substantial operations in Colorado or Wyoming.
Kickstart Grants
The Wyoming Business Council’s Kickstart Grant Program offers growth-oriented startups in the state $5,000 – $50,000 in financial support. Selection is done quarterly through a pitch competition. To be eligible, a company must have been founded in Wyoming, plan to remain in the state for at least 3 years, have no more than 25 employees (50% of which must be Wyoming residents), and demonstrate potential for high growth and for expanding into markets outside of Wyoming. Also, one of the company’s founders must have completed an accelerator program, been a finalist in a pitch competition, had a previous successful exit, and/or started a venture-backed business that has failed or closed.
Manufacturing Works
As the state’s NIST Manufacturing Extension Partnership Program (MEP) Center supporting small and mid-sized manufacturers, the non-profit consultancy Manufacturing Works (Laramie, WY) helps Wyoming manufacturers increase efficiency and profitability through assessments, technical assistance, training, and access to a network of experts. The center is funded by the NIST MEP program, Wyoming Business Council/State of Wyoming, and University of Wyoming. Key consulting services span advanced manufacturing technologies and prototyping, as well as business health and growth, continuous improvement, cybersecurity, ISO and quality management, supply chain optimization, and workforce development and training.
SBIR/STTR Matching Grants
The Wyoming Business Council’s SBIR Matching Grant Program provides companies that receive federal SBIR and STTR program awards with matching funds up to $100,000 for Phase I awards and up to $200,000 for Phase II awards. The matching grant program issues up to $5 million in funding across up to 20 Phase I and 20 Phase II awards per year. A single company may receive up to 4 matching SBIR/STTR grants. To be eligible, companies must have an active SBIR/STTR award, have at least 50% of their employees based in Wyoming, and be committed to seeking funding beyond SBIR/STTR.
