Do you need investment funding? Do you have a million-dollar idea?
Whether your small business is brand new or long established, federal Small Business Innovation Research (SBIR) grants can provide you with non-dilutive funds to drive growth through product development. These grants are designed to give entrepreneurs with great ideas a leg up by helping you:
- Make your innovative product ideas come to life
- Develop product prototypes for testing (Phase I)
- Take successful prototypes and build robust products and rigorously evaluate them (Phase II)
A successful Phase I/Phase II grant combination will provide your business with between one and two million dollars for development and testing. This is investment funding that is non-dilutive (they never ask for a piece of your business or revenue) and doesn’t have to be repaid. And once the product is developed and evaluated with grant funds, you have an innovative product to bring to market. Your product will also have the cache that comes with having been funded by a prestigious agency within the federal government, allowing you to say, for example, “this was developed with a grant from the National Institutes of Health.”
The grants are competitive, so having a great idea and good writers is a must.
Okay, so it’s possible we are a bit biased because we have had the good fortune of successfully winning 19 federal innovation grants in our first 10 years to fund everything from learning games to online training platforms. But even just one or two grants can help a small business get the funds to make their innovative product ideas a reality. Learn more about the specifics at https://www.sbir.gov/about. If you want to see what successful products look like, go here.
This funding is only available to small businesses. If your organization doesn’t qualify, we might be the partner who can help you.