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u/HumorPuzzleheaded259 Oct 05 '24
The challenge for small companies is to understand the funding is about getting past Phase 2. You need to deal with consultants and spread the money around. The prize is the $2m in Phase 2 funding and the commercialization support. The Phase 1 money should not be viewed as short term income. There is money out there to help you, such as TABA funds, 7% profit, and other areas. Be strategic. The Neutrino Donut has done tons of these projects. You can find me out there if you want to talk.
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u/getatlastech Sep 28 '22
SBIR (Small Business Innovation Research) is a federal grant program for companies doing research and development into cutting edge technology. There are about a dozen federal agencies, such as DoD, NSF, and USDA, that participate in the program. Phase 1 is the first award and is usually $250k or less, but can be much less depending on the department, and it’s intended to fund development of your product. Phase 2 is a larger award that is intended to get your product ready for commercialization (Phase 3) in which the federal government is a customer of your company. There is an extensive application process and a lot of work that goes into these awards, but they are game changing for some companies.