When it comes to actually being awarded funding, entrepreneurs are 100 to 200 times more likely to get an SBIR grant than venture money.
The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs provide qualified small businesses, with opportunities to propose innovative projects that meet specific federal needs. These programs offer more than $2 billion dollars annually to support the research and development of technology by small businesses across the nation. Federal agencies set aside a portion of their extramural R&D budget to be awarded to small businesses. Researchers can receive anywhere from $150,000 to $1 million in capital to determine a technology’s feasibility and develop a prototype. It’s a good deal from the U.S. government. Not only do entrepreneurs not have to repay the money as long as they meet the terms of the funding, but they also don’t give up any ownership of the company.
MWIN offers free guidance to small businesses interested in submitting proposals to participating agencies in response to agency solicitations. We also offer training two times a year on the overall SBIR and STTR program and shorter workshops with specific topic areas pertaining to SBIR funding.
Benefits of the Program
This is a free service to help entrepreneurs in Midwest that are potential awardees for SBIR and STTR funding.