World Industrial Reporter

Innovation Delivered Daily

  • Innovation
    • Innovation Article Archive
    • Innovative Companies
    • Innovation Strategies
    • New Equipment Innovations
  • New Products
  • Additive Manufacturing
  • Markets
    • Market Trends
    • Tradeshow Reports
    • White Papers
  • Logistics
  • Newsletters
World Industrial Reporter » Innovation Strategies » Innovation Funding Opportunities

Innovation Funding Opportunities

April 30, 2015

innovation funding opportunities

Innovation funding opportunities may be important to  your business!

Are you part of a small business innovation team? Do your customers require innovative products from your company? Are you struggling to secure the necessary resources to expand your R&D and Innovation capability and reach?

If your response to these questions is yes, you might consider looking at the different funding opportunities provided by the Small Business Innovation Research (SBIR) program.

This program supports technological innovation through Federal research funding. The main goals of this program are to stimulate technological innovation in critical national areas by increasing private sector commercialization of research

Participating Agencies

There are eleven agencies that participate in the program, with a cumulative budget of over $2.2 Billion. While, each agency manages its own program the application process is similar. The agencies designate research topics in their solicitations and then evaluate proposals from small businesses. The awards are made on a competitive basis after a proposal evaluation period.

Key Sites

  • DOD http://www.acq.osd.mil/osbp/sbir/
  • HSS https://sbir.nih.gov
  • DOE http://science.energy.gov/sbir/
  • NASA http://sbir.gsfc.nasa.gov
  • NSF http://www.nsf.gov/eng/iip/sbir/home.jsp

The largest participating agency is the Department of Defense with over $1 Billion in funding, followed by Health and Human Services, Department of Energy, NASA and the National Science Foundation, with approximate budgets of $650, $170, $140, and $131 million respectively.

The agencies support the commercialization of critical technology in a wide spectrum of markets and capabilities, creating opportunities for the majority of innovation driven small businesses.

Program Structure

The SBIR program is structured in three phases:

Phase 1. The purpose of this phase is to demonstrate the technical feasibility and commercial potential of the project technology. Additionally it establishes the capability of the small business to commercialize the technology. Awards range from $85,000 to $150,000, depending on agency, for 6 months.

Phase 2. The purpose if this phase is to continue the effort of Phase 1 and to bring the technology to a commercial readiness level. It is expected that potential customers participate or support the project. Awards range from $750,000 to $1,000,000 for 2 years.

Phase 3. The purpose if this phase is to commercialize the technology. While the SBIR program does not fund this phase, multiple agencies support it by providing production contracts, or facilitating additional private funding opportunities.

Cons of SBIR Funding

While the SBIR program is a great program to energize commercial innovation in your Small Company, it important to note there are certain restrictions and requirements:

  • Each agency limits how the money can be spent.
  • The company is required to maintain accounting standards and subject to internal accounting audits.
  • Standard government business practices, such as where the work will be performed, purchasing practices and other Export Controls/ITAR requirement for the DoD.

While these are just minor issues, you should be aware and understand the additional cost of added business processes.

 

 

Pedro Guillen

Managing Partner

Technology & Business Innovation

[email protected]

Tel: +1 248.924.5436

 

Share on

Filed Under: Innovation Strategies

Value Proposition Design
Collaborative Innovation Resources for Small Companies
Avatar

About Doug Lee

Doug has over 30 years tracking and reporting on new products and services introduced by industrial companies from around the world.

Follow me
Suppliers

Beckhoff at Hannover Messe: Shaping Digital Transformation with PC-Based Control

Beckhoff is renowned for offering an extensive range of innovations that are now considered standard throughout the automation world. At Hannover Messe 2022, Beckhoff will be demonstrating how their New Automation Technology actively supports digital transformation with high-performance control and automation solutions for optimizing machines, plants, and buildings, as well as in the field of e-mobility.
View Supplier Email this Supplier

Track & Trace in Production and Logistics

From incoming goods through production to warehouse and shipping - seamless identification with RFID provides decision-relevant information in real time. With the intelligent linking of RFID information from production and intralogistics with MES and ERP systems, you increase your efficiency and gain the necessary transparency for lean processes and digitized supply chains.
View Supplier Email this Supplier

Distance and Position Measurements Up to 10 kHz

The optoNCDT 1900 laser sensors with integrated high-performance controller offer a unique combination of speed, compact design and accuracy. The intelligent surface control enables extremely stable measurement results even on challenging surfaces with changing reflections. Easy installation also in confined spaces.

View Supplier Email this Supplier

High Accuracy, Non-Contact, Absolute Linear Sensor

Santest Model GY series are high accuracy, non-contact, absolute type linear sensors employing magnetostrictive, Wiedemann effect. An ultra-sonic wave generated by a moving magnet near a magnetostrictive wave-guide on which the sonic wave propagates to the head of the transducer.
View Supplier Email this Supplier

Affordable and Fixed Installed IR Cameras

Our thermal imaging cameras with multiple wavelength options, automatic spot finder function and autonomous operation are ideal for condition monitoring of machines and plants up to 5432 °F.
View Supplier Email this Supplier

Subscribe

Get the latest WIR reports straight to your inbox.

Free Newsletter Subscription

Find us on the social web.

  • About Us
  • Contact Us
  • Advertise
  • Terms Of Use
  • Privacy Policy
FREE NEWSLETTER SUBSCRIPTION

Get the latest WIR reports straight to your inbox.

  • Innovation Article Archive
  • Innovation Strategies
  • Innovative Companies
  • New Products
  • Additive Manufacturing
  • Market Trends
  • Tradeshow Reports
  • White Papers
  • Logistics
  • Newsletters
  • Fun Stuff
  • Industry Links
Follow us

© 2022 Thomas Publishing Company. All rights reserved.

Posting....