Am I Ready for an SBIR/STTR Grant?

Concept to Commercialization

Many people have innovative brainstorms that end as ideas on a napkin. That’s not you. You’ve refined your idea and have started working through theoretical and practical challenges of your project. You feel like your idea is on the cusp of going from concept to commercialization. But how do you get from where you are to where you want to be? Maybe it’s time to determine if an SBIR/STTR grant is the key to unlocking your company’s potential.

The NIH, CDC, and FDA are all interested in funding promising solutions to the nation’s health problems. Therefore, they have provided a valuable overview of the SBIR/STTR grant process. This post will highlight the big picture of this process and what you should be considering as you answer the question of “are you ready for an SBIR/STTR grant”?

Navigating SBIR/STTR Funding Paths

First, since the goal of the SBIR/STTR program is to promote commercially viable products and services, these grants are targeted at eligible small businesses that have appropriately registered themselves. You will want to consider that the registration process can take a few months, so keep this in mind along with the SBIR/STTR application deadlines.

Next, you must evaluate where your project fits within the funding paths available. Phase I and Phase II funding paths differ in their award amount, length of funding period, and expectation of project refinement. Imagine you have a company that is looking to get funding for an innovative medical device. If the device is currently conceptual, you would most likely seek Phase I funding. You will still need to have developed this idea in detail and ideally backed it with prior research and preliminary data. The Phase I funding would be used to conduct exploratory research and prototyping with a focus on demonstrating feasibility of your medical device. A successful Phase I funded project would end with strong evidence that this medical device works and addresses the problem it intends to.

If you had a successful Phase I project or your team already has strong preliminary data demonstrating that your project is viable, Phase II funding would be your target. These grants have larger awards and longer timeframes to completion, but that comes with higher expectations from the grant reviewers. Your Phase II funding would be dedicated toward scaling up your research and development efforts to demonstrate that your medical device not only solves the intended problem but does so in a commercially viable way.

Preparing for SBIR/STTR Grants

Regardless of which phase you are seeking, you’ll need capacity to conduct rigorous research and present data to the grant reviewers in a compelling manner. Part of the answer to the question of are you ready to apply for an SBIR/STTR grant is having a team with a background in experimental design, data collection, and results analysis.

In addition to knowing what funding path makes most sense for your project, you will also want to ensure that your project matches the research priorities of the NIH, CDC, and/or FDA. To best prepare a fundable grant proposal, you will want to demonstrate that your project closely aligns with the mission and stated priorities of the funding agency. This alignment is something to consider when working on your Significance section of the application. At Blue Haven Grant Consultants, we consider this alignment to be a critical part of the grant application narrative story and is part of our Significance/Innovative Deconstruction process.

Ready for SBIR/STTR Grants?

The NIH, CDC, and FDA want to fund viable and successful projects that will help accomplish their overall mission of promoting and protecting the health and quality of life of all Americans. Their documentation provides resources for submitting successful SBIR/STTR grants, but they don’t provide experience and consultation. Blue Haven Grant Consultants can fill that experience gap by being a guiding collaborator for you and your company. We have over a decade of experience successfully navigating this process and presenting compelling narratives to granting agencies. With our no risk “BHGC Pay Upon Award”™ approach, you know we’ll be there with you every step of the process to make sure that your project is in the best position possible to get funded.

If you think the answer to the question “Are you ready for a SBIR/STTR grant?” is yes, contact us to start your grant application journey.