393 SBIR/STTR awards were made to Vermont companies with a value of over $95 million from the federal government for early stage research and development leading to commercialization of new products. Would you like to be an award winner, too?
Come learn the basics about the federal government's Small Business Innovation Research and Small Business Technology Transfer (SBIR/STTR) grant program, a $2.5 Billion annual initiative that targets the entrepreneurial sector. Eleven federal agencies participate in the program and a small business may be awarded up to $1,150,000 in Phase I and Phase II awards.
SBIR/STTR funds the critical startup and development stages and it encourages the commercialization of the technology, product, or service, which, in turn, stimulates the U.S. economy.
There are several benefits to participating in the SBIR/STTR program:
- No repayment of grant money;
- Small business retains intellectual property rights;
- Any procurement of the SBIR/STTR developed technology may be considered “sole source” for up to 5 years from the date of a company’s last SBIR/STTR award.
In addition to discussing how to participate in the SBIR/STTR program, other funding opportunities will also be presented.