A popular Indiana grant program that helped promising startup companies develop their products has quietly gone dormant, and business innovators worry its loss could stifle technology development in the state.
Indiana began offering the matching grants to companies that had won research awards from the federal Small Business Innovation Research program in 2003. The Indianapolis Star reports it gave out more than $36 million through some grants over about eight years.
Recipients said the matching grants were crucial to their survival because their use wasn't restricted like the small business grants are.
The program appears to have gone dormant in the fall of 2011.
Indiana Economic Development Corp. spokeswoman Katelyn Hancock says the program might resurface in the future.
Information from: The Indianapolis Star
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)