CHICO, Calif. – The Center for Economic Development (CED) at the California State University, Chico Research Foundation announced Tuesday that it had been selected by the United States Small Business Administration (SBA) as the winner of the Federal and State Technology (FAST) Partnership Program for the State of California.

This contract, developed in conjunction with the Governor's Office of Economic Development (GoED), will provide resources to target technology-based women-owned businesses, socially and economically disadvantaged businesses and small firms that have historically not participated in the Small Business Innovative Research (SBIR) and Small Business Technology Transfer (STTR) Programs.

This effort will help develop the connection between the State's Small Business Development Centers (SBDC's) and California's Innovation Hubs (iHubs) designed to strengthen the collaboration and support networks of the State's entrepreneurs.

The federal funding made available by the FAST program will be used to build capacity within the iHubs and the SBDC offices by providing training in the areas of technology assistance and commercialization, supporting outreach initiatives and workshops for targeted technology firms and subsidizing the technology assistance and mentoring programs available through the iHubs.

Dan Ripke, director of the Center for Economic Development and the Northeastern California Small Business Development Center stated, "We are extremely pleased to be able to link California's SBDC program to the Governor's Office of Economic Development and its statewide innovation hub network to promote these kinds of grass roots technology-based job creation efforts."

Launched in March, Gov. Schwarzenegger's Innovation Hub Initiative provides a platform for research clusters, startup companies, government entities, business groups and venture capitalists by leveraging assets such as research parks, technology incubators, universities and federal laboratories to foster innovation and job creation statewide.

Over the past six months, the group has grown to 12 including the North State iHub in Chico, the North Bay iHub in Rohnert Park, the Sacramento iHub, the Greater Mission Bay Area iHub in San Francisco, the i-GATE iHub in Livermore, the Green Corridor iHub in the East Bay, the Central San Joaquin Valley iHub in Fresno/Merced, the CleanTech Los Angeles iHub, the Coachella Valley iHub in Palm Springs, OCTANe iHub in Orange County and iHub San Diego.

"The twelve innovation hubs operating within various regions throughout the state will benefit from the additional funding," said Governor's Office of Economic Development Director Joel Ayala. "The partnership with CSU Chico and the California SBDC network gives us an opportunity to assist small businesses, commercialize new technologies, secure other funding and create jobs for Californians."

Please visit www.cedcal.com or call 530-898-4598 for additional information.