More Galleries
Banks won't lend? Use these guys instead Banks often have exhaustive approval processes, high minimums, and flawless credit requirements. But there's a wealth of non-bank alternatives for those who need capital fast. Here are some of the leaders. More
Facebook launched my startup These entrepreneurs relied exclusively on Facebook, Twitter and Instagram to jumpstart their small businesses. More
10 best cities to launch a startup Access to funding, labor and the cost of living can make or break a new business. Based on a NerdWallet study, these 10 cities are the best in the country to launch a startup. More
Special Offer
4 of 8
BACK NEXT
Universal Display Corp.

Technology: OLED
Location: Ewing, N.J.
Amount of grant: $200,000 (June 2007)
From: Department of Energy
Employees: 65

Universal Display Corp. develops organic light emitting diodes (OLED), films of organic material that light up when charged with an electric current. Technology that was a dot of light when the company started in 1994 now holds the imminent promise of making even thinner television displays and more efficient lights possible.

The company, which got its startup funding from founder Sherwin Seligsohn, won its first SBIR grant in 1997. "To get research dollars through the SBIR program was a nice way to validate the significance of our technology," says Janice Mahon, vice president of technology commercialization. Universal Display has since received more than two-dozen such awards, collaborating with both the Department of Energy and Department of Defense. DOE grants support light-source technology development for household or office use, while the DOD funds flexible displays that soldiers can affix to their clothes and take into the field. While the money has sped up the development timeline, no SBIR-funded research has yet to be commercialized. "OLED technology on the display side just started to hit the market a couple of years ago," Mahon says. "We had funding very early in the product lifecycle in this technology."

Even though Universal Display is currently listed on the NASDAQ and capitalized at nearly half a billion dollars, the company is still considered "small" for its industry by the Small Business Administration's standards. - Herman Wong

NEXT: Great Pacific Chocolate Co.

Last updated April 11 2008: 4:34 PM ET
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.