SBIR/STTR program supports technology development in the commonwealth
FRANKFORT, Ky. (July 30, 2026) – Today, Gov. Andy Beshear announced six innovative Kentucky companies will receive $748,620 in state matching grants to support high-paying jobs and further grow the state’s technology sector.
The grants are part of the commonwealth’s nationally recognized Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Matching Funds Program. The funds will match, in part, $5.9 million in federal grants the businesses will collectively receive.
“Our technology sector has seen tremendous growth in recent years thanks to our commitment to creating an environment that allows startup companies to succeed,” said Gov. Beshear. “These companies are creating high-wage jobs for Kentuckians while addressing important issues that will save lives, improve healthcare and create a better future for our families.”
The six Kentucky-based businesses awarded matching funds are using technology to advance multiple fields, from improved surgical tools and health monitoring systems to power efficient sensor technology and bioplastics production. Recipient companies include.
AstraQua Inc. (California):
AstraQua Inc. is relocating from California to Kentucky to further develop the AstraSense system. The technology aims to address the challenges of operating in high-voltage, high-noise environments by detecting early stage degradation and predicting failures before they occur.
Bioptics Technology LLC (Lexington):
Bioptics Technology LLC is developing an innovative low-cost, wearable, fluorescence imaging device (FLoupe) attached to standard surgical eye loupes that neurosurgeons wear, to easily and accurately identify brain tumors for safe and maximal resection. The low-cost and wearable FLoupe provides a wider range of motion for the neurosurgeon during surgery rather than an expensive and stationary operative microscope.
Spirited Inc. (Lexington):
Spirited Inc. is developing an integrated biorefinery system that converts bourbon distillery stillage into polyhydroxyalkanoates (PHA) bioplastics and renewable gas (RNG). Spirited’s innovative technology will produce bioplastics as a competitive replacement for petroleum plastics.
Tru Diagnostics Inc. (Lexington):
Tru Diagnostics Inc. is developing a dynamic, DNA methylation-based health forecasting tool that can improve the early detection, monitoring and treatment of chronic diseases. This innovative technology enables personalized health insights and intervention strategies tailored to an individual’s biological profile.
Wicked Technologies (Louisville):
Wicked Technologies developed the Wicked Smart Pad, the first of its kind, a washable bed pad with sensors that detect moisture in real-time and alerts caregivers wirelessly. The Wicked Smart app is now available for download or integration with healthcare provider partners.
WiLO Networks Inc. (Lexington):
WiLO Networks Inc. is developing a cutting-edge sensor network platform designed to operate with exceptionally low power consumption. The core innovation lies in the integration of low-power wake-up radio technology with network protocols optimized for enabling always-on, low-latency communication without the traditional energy overhead. This advancement is expected to yield smaller, more cost-effective sensor nodes with extended lifespans, opening new possibilities for Internet of Things (IoT) applications that were previously impractical due to power constraints.
Kentucky’s SBIR/STTR program, overseen by KY Innovation, provides critical nondilutive capital for promising early stage tech companies by matching all or part of federal SBIR/STTR awards received by Kentucky-based businesses or companies committed to relocating to the state.
“The Kentucky SBIR/STTR Matching Funds Program provided valuable complementary funding that allowed Space Tango to expand the scope and pace of its federal Phase II work,” said Krystal Maguire, CFO of Space Tango. “The program supported Kentucky-based technology development, helped mature the TangoBox prototype and strengthened Space Tango’s position to pursue follow-on federal funding, private investment and commercial opportunities.”
To date, Kentucky SBIR/STTR-awarded companies have leveraged the state’s matching program to receive $8 in federal or private capital for every $1 in state funds. These businesses also have created more than 789 well-paying jobs, 94% of which have annual salaries over $50,000. Match recipients have 243 patents and generated more than $146 million in sales and licensing revenue. Kentucky has made 359 match awards to 164 unique companies since the program’s inception, leveraging $185.8 million in federal funding coming into the state.
“The matching funds program has long set Kentucky apart by helping companies accelerate on their path to commercializing cutting-edge technologies,” said David Brock, executive director of KY Innovation. “The program remains a vital resource for homegrown innovators and startups from across the country who have chosen to advance their breakthroughs in Kentucky. We commend the awardees and are eager to support their success in the coming years.”
More information on Kentucky’s SBIR/STTR Matching Funds Program and awarded companies awarded is available at kyinnovation.com/sbir.
The SBIR/STTR-awarded companies investment and job creation build on the best six-year period for economic growth in state history.
Since the beginning of his administration, Gov. Beshear has announced more than 1,300 private-sector new-location and expansion projects totaling over $50 billion in announced investments, creating more than 70,000 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth’s history and $29 billion more than the next highest total.
Gov. Beshear has announced some of the largest economic development projects in state history, which have solidified Kentucky as the battery capital of the United States: AESC’s $2 billion, 2,000-job gigafactory project in Warren County; Ford Motor Co.’s $2 billion, 2,200-job commitment in Louisville, as well as its $2 billion, 2,100-job project at the Kentucky 1 plant in Hardin County; Shelbyville Battery Manufacturing’s $712 million investment, creating 1,572 jobs in Shelby County; and Toyota’s $1.3 billion investment in Scott County, among others.
In February, the Governor announced Kentucky once again set an all-time record for products shipped globally, with $51.6 billion in exports in 2025, representing a 7.65% increase over 2024.
Unemployment rates fell in all 120 counties between December 2024 and December 2025.
The Governor’s administration also secured the largest General Fund budget surplus and Rainy Day Fund. In 2023, Kentucky recorded over 2 million jobs filled for the first time ever and has stayed above that number ever since.
In addition, Kentucky has secured rating increases from major credit rating agencies Fitch Ratings, S&P Global Ratings and Moody’s Investors Service.
Earlier this year, Site Selection magazine ranked Kentucky in the top five nationally and second in the South Central region for economic development projects per capita in its 2025 Governor’s Cup rankings. In June, Area Development magazine awarded the commonwealth a Silver Shovel designation in its 2025 Shovel Awards, which highlight states for attracting high-value investment projects that will create a significant number of new jobs in their communities.
Gov. Beshear also announced a new initiative, called New Kentucky Home, to increase economic investment, attain and attract talent, and increase tourism across the state.
Information on Kentucky’s economic development efforts and programs is available at NewKentuckyHome.ky.gov. Fans of the Cabinet for Economic Development can also join the discussion at facebook.com/CEDkygov, on Twitter @CEDkygov, Instagram @CEDkygov and LinkedIn.
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