Should your startup seek Small Business Innovation Research (SBIR) grants?
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In response to Sam Altman’s great post “Hard tech is back,” someone on Hacker News pointed out that hard tech companies should apply for Small Business Innovation Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) grants (both programs provide funding to small companies that are commercializing research). There are excellent reasons to apply, which we’ll recapitulate: most Federal agencies are required to make SBIR/STTR funds available; grants for Phase I go up to $225,000, and Phase II grants go up to $2 million; a large amount of money is available (most years see SBIR/STTR budget allocations in the billions); unlike venture capital (VC) funding, federal money doesn’t require giving up shares in return for funding; and, finally, the feds may fund ideas VCs won’t. The “feds may fund ideas VCs won’t” is particularly but not exclusively true of hard tech projects. Click here to continue reading.