Excel Regional Solutions recently released the SBIR State Performance Index, which assesses state SBIR achievements using factors like economy size, research spending, high-tech firms, and research employment. Including these factors establishes a more comprehensive ranking of performance by showing how well each state's companies earn SBIR awards compared to their share of the national innovation economy. 

According to the index, West Virginia received 45 awards from 2022 to 2024, far fewer than Texas's 1,138. At first glance, this might make West Virginia’s accomplishments look insubstantial. However, the report ranks the Mountain State #18 when all factors are considered. We believe this is due to the state’s matching fund program, the Entrepreneurship and Innovation Investment Fund, and technical assistance from WV SPRINT, the SBIR FAST program administered by USRIA & WV SBDC.