Are you innovating new concepts and ideas? 

Perhaps you are a technology-focused company developing innovative new products or services?

VtSBDC can help with your commercialization and funding goals. 

Commercializing your innovation

Moving your idea and innovation from where you are today to successful commercialization requires your being knowledgeable about multiple domains including business and technical, as well as clinical if your idea involves healthcare. That is a lot to navigate. VtSBDC advisors are here to help. Our expertise in commercialization will provide insight and guidance for innovators, technology-driven entrepreneurs, or tech startups. 

We can help you understand the steps along the commercialization pathway for how to prioritize what you are working on and clarify the critical path you need for success. 

Major topics we are prepared to cover:

  • Customers
  • Business models
  • Distribution
  • Regulatory
  • Reimbursement
  • Prototyping
  • Funding

At VtSBDC count on us to meet you where you are and to help you get where you want to go. 

Innovation funding through SBIR/STTR

Are you that innovator who is working on something that will change the world? If you are immersed in a novel project that has the potential to impact society, then the SBIR/STTR funding programs could be for you. 

The Small Business Innovation Research program (SBIR) and the Small Business Technology Transfer program (STTR) are designed specifically for individuals who will become a small business or who are already established as a small business. 

Why would the Federal Government fund small business? 

The program’s goals are to:

  • Stimulate technological innovation.
  • Meet federal research and development needs.
  • Foster and encourage participation in innovation and entrepreneurship by women and socially or economically disadvantaged persons.
  • Increase private-sector commercialization of innovations derived from federal research and development funding.

In addition, the STTR program aims to:

  • Foster technology transfer through cooperative R&D between small businesses and research institutions.

There are a lot of nuances to the SBIR/STTR program but the basics are:

Competitive application process; three phases for feasibility, prototyping, commercialization; multiple submission cycles.

Eleven agencies in the Federal Government participate in the SBIR/STTR programs and the topics are wide ranging. Here is just a sampling of the broad buckets of potential areas:

  • Energy
  • Education
  • Health
  • Transportation
  • Space
  • Agriculture
  • Defense 
  • Science
  • Environment
  • Commerce
  • Security

Follow the links below to gather more insight on the programs and if you think this funding mechanism is right for you, or email VtSBDC’s Innovation and Technology Commercialization advisor Scott Holson at sholson@vtsbdc.org who will help align your innovation to the right agency and topic, give insight about the application process, timelines, registrations and what to expect from a successful or unsuccessful application. 

SBIR/STTR (www.sbir.gov)

Visit sbir.gov for a more robust overview and details along with excellent tutorials. Covering the complete grant program, everything from “do you qualify” to “how to write the grant,” it is a must read for anyone considering a grant application. The tutorial is particularly valuable in guiding grant applicants to appropriate open opportunities at all agencies within the SBIR/STTR network.

TO GET STARTED NOW CLICK HERE FOR A COMPLETE ONLINE TUTORIAL WITH MORE DETAILS ON THE SBIR AND STTR PROGRAMS!