With Phase II grants offering significantly higher funding amounts than Phase I, it’s natural to wonder if your team should skip Phase I and aim directly for a Phase II application. But is this the right strategy for your team?

Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs are two of the most popular sources for funding medical device innovation. Understanding the differences between these two grants is essential to making an informed decision about which grant is best suited for your project.

When it comes to securing funding from the National Institute of Health’s (NIH) Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, it's not just about having a great idea – it's about how well you can communicate that idea.

If you were exploring investment in a medical device project, you would likely seek third party perspectives about whether that project had the resources, ideas, and team to make your investment worthwhile.

An experienced SBIR grant writer knows NIH SBIR proposal reviewers do the same thing when they scrutinize an application. When an application can demonstrate that the team has the tools and capability to get the project completed, it increases the likelihood that the application will be approved.

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.

Are you an entrepreneur with groundbreaking ideas in the healthcare industry? Do you dream of transforming your innovative concepts into tangible products or services? If so, the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs might be your golden ticket to success.