Science startups in Arkansas get a funding nod

The Walton Family Foundation awarded a two-year extension to the Science Venture Studio of Fayetteville.

• The studio helps science and tech-focused startups land federal research dollars so they can commercialize their technology.

Why it matters: The funding comes from programs run by the U.S. Small Business Administration. The process requires competitive proposals, a demand that can be daunting for startups.

• Yes, and: Company founders don't have to give up any equity in exchange for the money.

Context: SVS has helped companies reel in $3.5 million in federal research funding since its 2020 launch. The group plans to double that number over the next two years.

Flashback: SVS started with funding from the Walton Family Foundation in collaboration with Startup Junkie, Winrock’s Innovate Arkansas, the Northwest Arkansas Council and the University of Arkansas' Office of Entrepreneurship and Innovation.

• Winrock International of Little Rock will now manage SVS.