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Startup Advisor Lunch & Learn: SBIR/STTR Applications
- 2. Leveraging SBIR/STTR funding for your early-stage technology development 1) SBIR/STTR basics – what they are, who and what is right for this type of funding 2) Why these programs should be part of your financing tactics for your business and best practices for successfully competing for this funding Ann Peterson Program Director ann.peterson@montana.edu
- 3. MontanaInnovation Ecosystem Montana has an extensive and highly collaborative innovation ecosystem supporting high-tech development • Montana Bioscience Alliance • Montana Bioscience Cluster Initiative • Lab and university partnerships • Accelerators • Broad local and state support fostering economic development • MonTec and future incubator spaces • Montana Innovation Partnership powered by MSU TechLink Center 45% success rate for MTIP clients submitting SBIR/STTR applications Montana ranks #13 among all states and territories for number of SBIR/STTR awards per capita. 2
- 4. montanainnovationpartnership.org 3 Montana’s source for free SBIR/STTR technical assistance through the Federal and State Technology (FAST) Partnership Program Funded by:
- 5. SBIR 101 What is SBIR and who is right for it? 4
- 6. Small Business Innovation Research Small Business Technology Transfer • Congressionally mandated program • Currently ~$4 billion in federal set-asides • 3.2% SBIR for federal agencies with an extramural R&D budget > $100million • 0.45% STTR for those with extramural R&D > $1billion • Stimulate technological innovation in the private sector • Strengthen role of small business in meeting Federal Research/Research & Development needs • Increase private sector commercialization of innovations developed through Federal SBIR/STTR R&D • Increase small business participation in Federal Research/R&D • Foster and encourage socially and economically disadvantaged small business and women-owned business concerns in the areas of technological innovation
- 9. Why consider SBIR/STTR Non-dilutive seed funding for early- stage applied translational r&d and prototype development Clarity on your product development plans and initial go-to- market strategies De-risks for later investors Intellectual property and data rights protection for 20 years * Direct follow-on Phase III awards – no need for further competition * See § 8(b)(4) of the SBIR/STTR Policy Directive
- 10. Who and which technologies are right and how will our proposal be reviewed? Small Business Innovation Something that is new or improved has marketable potential and includes the development of new technology the refinement of existing technology or the development of new applications for existing technology Research Intellectual Merit – Strength of the scientific/technical approach Impact – Potential to benefit society and achieve a specific outcome Company/Team – Ability to competently carry out the project AND suited to aggressive commercialization US based and majority US owned For profit Under 500 employees, including all affiliates Focus for funding is on performing R&D – Not purchasing equipment, commercializing a technology that has already been developed, or one that has very low risk and only needs capital
- 11. Three Phase Program Structure 10 Commercialization Discovery Prototyping Phase I Phase II Phase III Feasibility and Concept Development 3-12 months ~ $50K - $275K+ Research and development 24 months ~$500K - $1.7million Not SBIR funding Transition to an agency program or sales into private sector Range of additional support: “Phase 0” assistance Phase IIB Direct-to-Phase II FastTrack TABA – technical and business assistance I-Corps Commercialization Readiness
- 12. NIH SBIR/STTR Program Phases and Funding Levels
- 13. Differences between SBIR and STTR SBIR STTR Small Business (applicant) 67% Sub-contract 33% Discretionary 30% Research Institution 30% Small Business (applicant) 40% PI must be employed >50% by SBC PI can be employed by either SBC or RI (NSF excluded) A RI must be involved with an STTR. Only DOD, DOE, NASA, NIH, NSF, USDA Extramural r&d budgets >$1Billion. You may include a research institution (RI) as a sub-awardee but it is not required.
- 14. Contracts vs Grants GRANT • Funds support a public purpose • Investigator-initiated approach • Less specific topics • Cannot be used for classified work • Allows up-front payment • Q&A about the solicitation are not made public CONTRACT • Binding agreement between buyer and seller • Agency defines scope of work • Focused topics • Must be used for classified work • Invoice upon progress • During the open solicitation (after pre-solicitation period), Q&A about the solicitation are made public 13 HHS/NIH, NSF, Energy, USDA, NOAA, NIST, ED Department of Defense, NASA, DHS, DOT, EPA HHS and ED sometimes issue contracts as well.
- 15. Let’s go! Pursuing SBIR/STTR for your business
- 16. Make the leap from scientist to tech founder • Describe your customers • Beachhead or first adopters of your technology • Longer term addressable market • Describe the current problem • Who does it impact, what are the costs of not adequately addressing it • Describe your value proposition
- 17. Consider multiple agencies Space Technology Electronics Artificial Intelligence Education/ Training Energy Environment & Natural Resources Life Sciences DOD • • • • • • • DOE • • • • • • NASA • • • • • • • NIH • • • • • • NSF • • • • • • • DOT • • • • • EPA • • • • • • DoEd • • • • • • USDA • • • • • • DOC • • • • • • DHS • • • • • © 2022 Greenwood Consulting Group, Inc.
- 18. You will be pitching to the agency investor - get to know them 17 FAQs, Tutorials, Award lists (companies and funded projects by agency) SBIR.gov Their specific program rules, what they fund, their review process Agency’s SBIR site Understand the research objectives and goals of that agency Agency’s strategic objectives
- 19. Speakwiththe topicauthor 18 Access to topic authors varies by agency NIH program directors are accessible throughout the year! Draft your Specific Aims or short brief about your 2-3 technical objectives and reach out with a polite request for a 15-minute conversation. Tutorial from SBIR.gov with guidance here: https://www.sbir.gov/tutorials/fin ding-topics/tutorial-2
- 21. Builda Stellar Team! 20 Individuals who will help you: Protect your intellectual property Craft sound sales and business strategies Provide specialized technical expertise Comply with government accounting requirements
- 22. Leverage your ecosystemforbusiness andtechnicalsupport • SBA programs like FAST and Small Business Development Corporations (SBDCs) • Procurement Technical Assistance Centers (PTACs) • Manufacturing Extension Partnerships • State Commerce and Economic Development offices • Angel and VC network • Regional accelerators and incubators • Universities • Industry Alliances 21
- 24. Please check out our next event! https://tinyurl.com/imapctwalunch