How to Get the Government to Fund Your Business: Leveraging the SBIR/STTR Program
An underutilized program, the SBIR and STTR program helps entrepreneurs commercialize an idea and build a business, all on the government’s dime.
With one of the highest patents per capita, Idaho has nearly an unlimited supply of great ideas that have potential for commercialization. What’s not unlimited, however, is access to capital. Many entrepreneurs struggle to find early-stage funding that can help them take an idea to market. Although most entrepreneurs consider options such as loans, business angels, or seed capital, there’s an underutilized source of funding often overlooked by Idaho entrepreneurs. This is the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, which provides $2.5 billion in early-stage funding to companies across the country.
This Tuesday, May 2nd, the Idaho Small Business Development Center (Idaho SBDC) is hosting a special road show that will help Idaho entrepreneurs understand how to tap into this fund. Although the official SBIR website is a great resource with information about the program, solicitations, grants, and a fantastic set of tutorial videos, this road show will provide a unique, personalized approach to help Idaho entrepreneurs be successful. Before we discuss this special event, here’s some background information about the value of the program that every Idaho entrepreneur should know.