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Evan Rocheford's Level Up Presentation
- 1. GRANTS Will the government really give my start-up money!?
- 2. Sources of Funding for Startups ■ Investment – Private Capital ■ Sales – Customers ■ Grants – Government ■ No matter what, you’re “selling” something – Equity – Product / Service – Idea
- 3. What is an SBIR/STTR? SBIR Small Business Innovation Research ■ 60% of work MUST be done by small business STTR Small BusinessTechnology Transfer Research ■ MUST Partner with a Research Institution ■ 30% of work MUST be done by a collaborating research institution ■ 40% of work MUST be done by Small Business
- 4. I want a Grant! Just like a customer or investor… ■ Funding agencies will work with you or not based on their own Needs, Priorities and Goals Original Objectives of SBIR / STTR program: ■ Stimulate technological innovation ■ Use small business to meet Federal research and development needs ■ Foster and encourage participation by minority and disadvantaged persons in technological innovation ■ Increase private sector commercialization innovations derived from Federal research and development The government doesn't care what
- 5. "TO PROVIDE FUNDING FOR SOME OFTHE BEST EARLY-STAGE INNOVATION IDEAS -- IDEASTHAT, HOWEVER PROMISING, ARE STILL TOO HIGH RISK FOR PRIVATE INVESTORS, INCLUDINGVENTURE CAPITAL FIRMS." - RobertTibbet, SBIR / STTR Program Founder
- 6. Image Credit: Charles W. Wessner PhD U.S Federal Government spent $133.5 billion on Research in 2013 In 2010, the SBIR and STTR programs collectively provided 7,104 awards, compared with just 396 seed stage deals made by venture capitalists Venture capitalists invested $29.4 billion in 3,995 deals in 2013 (copy credit: InteliSpark.com) VALLEY OF DEATH
- 7. But my technology isn’t based on government funded research… ■ That’s OK! – It can help if it is though ■ As long as your technology innovation: – Solves a significant problem or – Addresses a substantial opportunity ■ That is in line with the research priorities of a funding agency
- 8. Participating Agencies Set aside program (% of total research budget) SBIR:Any agency with $100 Million+ in research funding STTR: Any agency with $1 Billion+ in research funding
- 9. Three Phase program ■ Phase I – ProvingTechnical Feasibility ■ Phase II – Research and Development ■ Phase III – Commercialization Funding Levels vary by agency ■ NSF – Phase I = $225,000 – Phase II = $750,000 ■ USDA – Phase I = $100,000 – Phase II = $600,000 ■ NIH and DOD can be substantially higher
- 10. How do I know if I should apply? ■ Do you just have a new product? – Or do you have a technology driven innovation ■ NSF SBIR / STTR program looks to fund: – High risk / high reward technologies – Not incremental improvements
- 11. Where do I start? ■ Identify the appropriate agency for your technology – Find specific program ■ There is a lot of publicly available data to help you – Look at Request for Proposals ■ Look at the last few RFPs and see what’s changed – Look at SBIR / STTR grants that have been funded – Look at academic grants that have been funded
- 12. CONTACTTHE PROGRAM DIRECTOR EARLY ■ They are there to help you ■ They want to receive good proposals ■ Speaking with them will help you gauge if your project is appropriate for their program – You might have a good project, but it probably wont get funded if it isn’t pertinent to a specific program
- 13. Get Started Early A competitive proposal takes over 100 person hours to write ■ Determine deadline – Submission dates vary widely by agency ■ Identify your topic area 8 - 10 weeks in advance – Focus on background research / concept development for a few weeks – Register for all required websites ■ Develop solid concept / rough outline by 4 - 6 weeks in advance – Start writing actual proposal and formulating budget ■ Leave time to revise – This is where good proposals become great proposals – You will almost certainly have to adjust your budget ■ Try to submit at least one day before the actual due date – In case of technical issues
- 14. Do I really have a shot? Success rates are low… ■ Approximately 15% for NSF SBIR / STTR BUT, you can improve your odds: ■ START EARLY ■ Do your homework – Customer discovery / validate need ■ Hire a grant writing professional
- 15. FOCUS ONTHE PROBLEMYOU ARE SOLVING ■ Your proposal needs to be crafted as a compelling narrative – Convince the reviewers the problem is real – Position your technology as a logical and feasible solution to said problem ■ Do not beTOO technical – Do not get lost in the weeds ■ Don’t just list features and benefits ■ Don’t use too much jargon
- 16. KnowThy Review Panel ■ Understand what kind of people will be on the review panel – Depends on agency, but typically either: ■ Primarily technical researchers ■ Combination of technical and commercialization experts
- 17. Strategic Research Partners ■ Even if you don’t have domain expertise – You can gain credibility by working with an academic or expert
- 18. The State of Indiana wants you toWIN ■ Resources / Information – SBIR / STTR specialist ■ Matching State Funds – Up to $50,000 for first three phase I awards ■ Letter of Support
- 19. QUESTIONS? Find me on LinkedIN https://www.linkedin.com/in/evanrocheford
Notes de l'éditeur
- Approximately $2.5 billion is awarded through this program each year. The United States Department of Defense (DoD) is the largest agency in this program with approximately $1 billion in SBIR grants annually.