Companies developing high-risk, high-return technology based products often face a funding conundrum. They need capital to do R&D. However, no one wants to fund the business until they have proven success. But that’s what you need the capital for- to further develop or demonstrate the technology. Whether its venture capital, angel funding, banks or corporate investment the answer to your request for funding is likely to be “come back when.” When is when? It varies. When you have customers. When you are in the clinic. When you have a working prototype. Sounds like a catch 22, right? But there is a potential solution.
The federal SBIR/STTR programs provide well over $2 billion of non-dilutive capital every year to small businesses developing high risk, high return technology based products. The money is targeted specifically to fund R&D activities to reduce the technical risk thereby helping to facilitate access to follow-on funding. Eleven federal agencies, ranging from the Department of Defense to the National Institutes of Health, have SBIR funds available. The program is competitive but with over $1 million per project of non-dilutive funding available, an SBIR/STTR grant or contract can be the factor that allows you to “come back,” hopefully next time on your own terms.
There is no charge to Delaware faculty or companies for these programs.
SBIR/STTR 101 Sessions
SBIR/STTR program basics, including program purpose, eligibility, sources of funding and tools for proposal development. The class provides enough information for attendees to determine if they would like to seriously pursue a grant or contract proposal.
Date: April 20-21, from 8:30-11:30am
Speaker: Michael Kurek, Ph.D, Partner, BBC Entrepreneurial Training & Consulting
Over his 30-year career, Michael Kurek has held senior management positions in marketing, sales and business development for a number of life science companies. Michael has demonstrated success on an international scale in defining new product opportunities, developing sales and marketing strategies, and recruiting and managing teams to deliver growth. He holds a Ph.D. in Genetics from Florida State University and an M.B.A. from Boston University. He joined BBCetc in 2001.
Date: June 1-2, from 8:30-11:30am
Speaker: Becky Aistrup, Principal Consultant, BBC Entrepreneurial Training & Consulting
Prior to joining BBCetc in 2012, Becky was the SBIR/STTR Program Director for the Minnesota Science and Technology Authority. Becky’s professional background includes over 20 years of experience working within the medical, biotech, advanced materials and electronics industries, and consulting with technology companies on SBIR/STTR funding. She holds a B.A. degree in Chemistry from the University of Kansas and M.B.A. in Marketing Management from the University of Minnesota.
Proposal Preparation Essentials: To learn more about crafting a competitive application, includes opportunity for one on one feedback from speakers.
These sessions are designed to help attendees understand what makes an award-winning SBIR/STTR proposal. SBIR/STTR’s are competitive; in order to win an award, applicants need to understand what each agency is looking for and how to make their proposal rise to the top. Attendees will have the opportunity to meet one-on one with one of these nationally known experts. Programs present essential information for crafting a competitive proposal to meet the mission, standards and requirements of the specific agencies.
- SBIR/STTR program purpose, eligibility requirements and sources of funding
- Necessary registrations so you can submit
- Practical advice on how to address the sections of the proposal
- Common problems and pitfalls and how to avoid them
- Navigating the submission process
About BBC Entrepreneurial Training & Consulting: BBCetc is a nationally recognized entrepreneurial consulting group specializing in helping emerging companies to win SBIR/STTR funding and use it strategically to propel growth. Its services include training courses and one-on-one consulting in the areas of technology assessment, SBIR/STTR proposal development, commercialization planning, and grants and contracts management. www.bbcetc.com