FUNDING SOURCES #2 – SBIR/STTR
Karl Dakin
I help you overcome challenges to raising capital. Take advantage of my Motivated Money Method to identify those investor candidates that are most likely to invest. Top expert in fundraising.
QUICK CALENDAR
WEDNESDAY, September 25, Don Cohen show, 9 a.m. MDT, LinkedIn Live
THURSDAY, September 26, Community Revitalization, 10 a.m. MDT, LinkedIn Live, YouTube
NO SUCCESSFUL FUNDING NEXT WEEK, October 1.
?FUNDING HAPPENINGS?
The U.S. Department of Energy (DOE)?announced?a new program to fund initiatives aimed at developing a diverse clean energy workforce by targeting a wide variety of groups within science, technology, engineering, and mathematics (STEM) fields. The Clean Energy Careers for All (CEC4A) program will award nearly $3 million to non-profit educational organizations—including engineering, scientific, and technical societies—to support programs that promote awareness and interest in clean energy careers among K–12 and university students, alumni and academic professionals, veterans, and formerly incarcerated individuals. SUBMISSION DEADLINE: 12/13/2024? WEBINAR: 10/16/2024
?FUNDING POINT – FUNDING SOURCES #2 – SBIR/STTR
This is the second in a long series of deep looks at different funding sources. As described in the first part of the series, raising funding is a matter of matching the kind of capital needed, the types of funding that match this need, sources of capital, and motivations to invest.
?This edition is focused on the Small Business Innovation Research and the Small Business Technology Transfer programs. These U.S. federal programs represent a set aside of federal research and development dollars that are allocated to small businesses. Each year, each major federal department that engages in research puts out a request for proposals on topics that match their current strategic needs. Topics include subjects that are so high-tech that they are incomprehensible to someone not in that area of science, and some that are so low-tech that it seems like anyone might participate.
?Small businesses compete for this funding, which is issued in two phases – feasibility and demonstrations. The programs call for small businesses to obtain funding or team with a larger company to engage in commercialization in what is called Phase III. The total dollar amounts correspond to the size of their R&D budgets
·?????? Department of Defense
·?????? Health and Human Services
·?????? Department of Energy
·?????? Department of Education
·?????? Department of Homeland Security
·?????? Department of Transportation
·?????? Environmental Protection Agency
·?????? National Aeronautics and Space Administration
·?????? National Science Foundation
·?????? Department of Commerce
Department of Agriculture
?Funding available through these programs is not a grant, but a contract for services. It provides cash as a kind of capital with revenue in the form of revenue from performance of the contract.
?The STTR program supports cooperative research between a small business and a university with the expectation that the small business will commercialize the innovation.
?More information on the programs is available from the U.S. Small Business Administration Office of Investment and Innovation and each of the participating departments. There are conferences like next week’s?SBIR/STTR Fall Innovation Conference?in Austin, webinars, and various educational programs from the SBA, state economic development programs, universities, and small business organizations.
?Advantages
?·?????? Small businesses gain money without giving up equity ownership or taking on debt
·?????? Money is available for unproven ideas
·?????? Prestige attaches to winning a contract
·?????? Successful completion of Phase I and Phase II may lead to a government contract for services or production
?Disadvantages
·?????? Funding announcements come out only once a year for most departments
·?????? Awards favor small businesses that have previously won
·?????? Awards may not cover all of the costs
领英推荐
·?????? Inventions created during contract performance give up royalties on federal contracts
?Recommendations
Any business that is bringing innovative products or services to market should review the program and each of the topics published by each department for an entire year. NEWSLETTER
If a topic of interest matches a product or service in development, the small business should do a thorough market search to know everyone who may be doing the same thing or something similar.
The small business should talk to people within the department who have been committed to helping the business submit a top-quality proposal.
If everything still looks good, the small business should hire a consultant familiar with the process including the particular way that the government requires keeping records and reporting expenses.
?SUCCESSFUL FUNDING
?THIS MORNING, on my Successful Funding show, Stephen Shaff f substituted for Ron Yeager who will be a guest on a future show. Steve is my partner in RCI Community Funds. We talked about how a small business should engage a community to gain support and possible funding.
?You may see a recording of the show at:
?
You may view recordings of all past Successful Funding shows at my LinkedIn profile under Events:
?RCI COMMUNITY FUNDS
As a member of this new company, I am working with a team of professionals to craft a new funding mechanism for revitalizing underserved communities.
LAST THURSDAY, RCI Community Funds, Benefit LLC presented the Community Revitalization show on LinkedIn Live, YouTube and Facebook. Our featured guest was Peter Rostovsky with RaiseWay, where we will discuss the details of investment crowdfunding for local communities, community capital, and building local wealth.
You may see a recording of this show at:
?DON COHEN SHOW
TOMORROW, I will be a guest on the Don Cohen show at 9 am, MDT that will be broadcast on LinkedIn Live.
?You may register to be in the audience at:
?Don is my mentor and guru on using LinkedIn as a social media platform to build my brand and build my community of individuals and organizations who work like me to help small businesses and communities raise funding. Donald Cohen
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Karl Dakin, the Capital Coach
Dakin Capital LLC
Entrepreneurial Executive
2 个月Great topic to be discussed! Many of the agencies offer multiple funding announcements per year. In fact the NSF has a rolling submission process that allows you to submit at any time during the year. Also, ~90% of the winners of NSF SBIR/STTR grants are start-ups that have never won a grant before. Lastly, the DoD provides contracts, other agencies such as NSF and DOE, offer grants to award winners. It just depends on the agency. The MOST important aspect of the SBIR program is the funding is entirely non-dilutive.
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2 个月That's Amazing thanks for sharing this best wishes to you all their ?????????????
I help you overcome challenges to raising capital. Take advantage of my Motivated Money Method to identify those investor candidates that are most likely to invest. Top expert in fundraising.
2 个月Does your small business innovate?