Developing Competitive SBIR/STTR Applications Starts Here
Small Business Innovation Research (SBIR) and Small Business Technology Transfer—(STTR) funding is among the most desirable capital that an advanced technology startup can secure. Every entrepreneur needs to have a basic understanding of this vital source of non-dilutive capital, whether you recognize an immediate match or not.
6 Reasons to Pursue SBIR/STTR Funding
- SBIR/STTR funding is the primary source of publicly funded research and development (R&D) and commercialization available to U.S. startups.
- SBIR/STTR awards and grants do not have to be repaid.
- SBIR/STTR grants and awards start at about $100,000 and can reach $1 to $2 million or more.
- It is hard to imagine a product the Department of Defense (DoD) doesn’t need.
- Even if a company does not achieve funding through SBIR/STTR, the peer-reviewed technical evaluation helps your company reduce risk and validate (or invalidate) your technology.
- Rev1 Ventures has in-house expertise on SBIR/STTR programs to help clients evaluate fit and opportunities.
Roundup of SBIR/STTR Resources
There are hundreds of pages of excellent and comprehensive information about SBIR/STTR on the Small Business Administration and agency web sites. This five-part series can help entrepreneurs learn the basics of how the SBIR/STTR process works. For those ready to dive in with an application, the series provides a roadmap and tools.
Start here to evaluate the potential of SBIR/STTR for your company. Gain a fundamental understanding of the SBIR/STTR process and opportunities. In Part 1, you will meet the sixteen participating agencies. Master the vocabulary. Taking a step by step approach makes the SBIR/STTR less daunting.
Entrepreneurs can use the links and resources in this blog to build their SBIR/STTR application. Use this roadmap to understand the scope of SBIR/STTR applications. Learn the “hows” and “wheres” of identifying funding opportunities by the agency. Receive detailed information on registration rules, building relationships with program directors, and application scoring.
The registration process for SBIR/STTR applications is rigorous, complex, and structured specifically for each agency. This is not a step to attempt alone. This guide provides resources, tips, and a template to help you assemble the information that you need to meet requirements specific to each agency efficiently.
All applications require detailed cost proposals and budgets. This template and the associated tutorials are structured building blocks for an application’s finance and accounting sections.
This template is a guide to the required biographical information for senior/key personnel and significant contributors. Information for your biographical sketch can be collected early in the application process. The information and framework can help you respond quickly to other bio requests.
SBIR/STTR programs are not a fit for every startup, but you won’t know until you understand the options and requirements. Contact Rev1 to learn more.