1 / 43

SBIR – Seed Capital for Innovative Small Businesses

SBIR – Seed Capital for Innovative Small Businesses. Senator Enzi’s Fifth Annual Inventors Conference Cheyenne Holiday Inn April 20-21, 2006. Financing start-ups is one of the greatest challenges facing innovators in launching new products and ventures.

tevy
Download Presentation

SBIR – Seed Capital for Innovative Small Businesses

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. SBIR – Seed Capital for Innovative Small Businesses Senator Enzi’s Fifth Annual Inventors Conference Cheyenne Holiday Inn April 20-21, 2006

  2. Financing start-ups is one of the greatest challenges facing innovators in launching new products and ventures

  3. The most common sources of start-up capital are… Personal savings Credit cards Selling assets (boats & other toys) Second mortgages Loans & investments from family, friends and ….. Suppliers, vendors, other businesses Commercial bank loans Private investors, Angels Government Grants Venture Capital

  4. SBIR Small Business Innovation Research GOVERNMENT GRANTS

  5. the largest, most accessible source of SEED CAPITALfor the nation’s innovative small businesses$2.2 Billion in 2006

  6. SBIR Program Highlights • National Competition Sponsored by 11 Federal Agencies • 2.5% R&D Funding Set-Aside for Small Businesses to Develop Innovative New Products and Services • Provide Federal Agencies with Innovative Concepts • Stimulate Innovation & Job Creation in the Nation’s Small Business Sector

  7. …and this capital is in the form of grants and contracts no repayment no debt service no equity forfeiture no IP forfeiture

  8. SBIR is a 3-Phase Program PHASE I • Feasibility Study • Up to $100K and 6-month Award PHASE II • Prototype Development • Up to $750K and 2-year Award PHASE III • Commercialization Stage • Use of non-SBIR/STTR Funds

  9. SBIR PROGRAM ELIGIBILITY • Small business organized for profit • At Least 51% U.S. owned and independently operated • Located in the U.S. • Fewer than 500 employees • Principal Investigator (PI) primarily employed with the small business

  10. TOTAL ~ $2.2 B 11 SBIR/STTR Participating Agencies • DOD SBIR/STTR • HHS SBIR/STTR • NASA SBIR/STTR • DOE SBIR/STTR • NSF SBIR/STTR • DHS SBIR/STTR • USDA SBIR • DOC SBIR • ED SBIR • EPA SBIR • DOT SBIR Nw

  11. CAUTION…..No two agency programs are alike!!!

  12. Agency Differences Contracting Agencies • Agency establishes plans, protocols, requirements • Highly focused topics • Procurement mechanism for DOD and NASA • More fiscal requirements Granting Agencies • Investigator initiates approach • Less-specific topics More flexibility DOD HHS/NIH NASA ED EPA DOT DOC HHS/NIH NSF ED USDA DOE

  13. More Agency Differences • Number and Timing of Solicitations • Proposal Due Dates • Dollar Amount of Award (Phase I and II) • Proposal Preparation Instructions • Proposal Submission Process (electronic/hard copy) • Financial details (e.g., Indirect Cost Rates, Gap Funding) • Proposal Review Process (Peer/Internal) • Proposal Success Rates

  14. How do I participate? • Annually, each agency releases an electronic Solicitation listing topics • Small business selects topic best suited for their innovative concept • Small business prepares a proposal following solicitation guidelines • Submit proposal on or before due date.

  15. next… • Agency reviews proposals (peer/internal) • Proposals are ranked by review scoresdetermined by quality, responsiveness and team qualifications • Awards assigned according to ranking until funding is spent • Small business is notified of award • Process is lengthy (6-12 mos.) and agency specific

  16. These programs are very competitive…Depending on the agency, 8-15% of the Phase I proposals and 40-50% of the Phase II proposals are funded…

  17. …and not foreveryone • Principal Investigator and team must be qualified • Concept must be innovative and address a specific topic of interest to the federal agency • Innovation must have commercial potential • Only research and development- no sales, marketing or manufacturing costs • Proposal preparation is a daunting task • Computer literacy required

  18. How has Wyoming performed in this national competition? • During the first 17 years of this 24 year program, Wyoming small businesses received a total of $5.5 million. • 10% of the national per capita average

  19. During the past 7 years • Wyoming small businesses have received a total of $23 million • 110% of the national per capita average

  20. How was thisturn-aroundachieved?

  21. TheWyoming SBIR/STTR Initiative(WSSI)an economic diversification programfunded byThe Wyoming Business Counciland administered byThe University of Wyoming Office of Research and Economic Development

  22. The WSSI MissionTo encourage and assist all eligible Wyoming residents to participate in the SBIR and STTR programs

  23. What does the WSSI do? • Provides state-wide outreach on an individual basis to encourage small business SBIR & STTR participation • Conducts state-wide conferences and workshops providing opportunities to meet with federal agency program specialists and Wyoming award winners.

  24. The WSSI also… • Provides one-on-one guidance in the preparation of competitive proposals. • Publishes a monthly e-newsletter with current information on agency solicitations, due dates, regional and national conferences and workshops, a listing of additional resources, and other SBIR/STTR news and topics of interest.

  25. But of greatest importance to Wyoming residents…the WSSIadministers theinnovative, popular and very successful…

  26. WSSIPhase 0 Program

  27. If You Decide You’re Going To Participate In The SBIR Grant Process…

  28. Then you will want to take advantage of the WSSI Phase 0 Program $5,000 Planning Grant No Payback Of Funds

  29. $120,000/year from the Wyoming Business Council Administered through the UW Research Office Typically Two $5,000 awards/month 2005 – 50% award rate!

  30. Phase 0 WSSI • Modeled After The Federal Program • Competitive Process • Prepares You For the SBIR Competition • Reviewer Feedback

  31. Where To Begin…

  32. www.uwyo.edu/sbir

  33. WSSI Phase 0 • Solicitation on Web Site  • Phase 0 Template Provided  • Sample Phase 0 Provided 

  34. Phase 0 Process • Submit electronically by 5:00 p.m. the first of each month (regardless) • Receive Email Verification of Receipt • Proposals Evaluated (3 reviewers) • Funding Recommendations Made • Awards announced about the 10th of each month

  35. Phase 0 Process cont. • If Chosen For Award • Receive Contract, Reviewer Comments, Assigned a Mentor • Receive $2,500 up front • Receive $2,500 after Contract is fulfilled • Draft Reviews Completed By Mentor • Mentor Paid In Full • Proof of Submission to Target Agency • Final Copy of Proposal Submitted to WSSI • If Not Chosen For Award • Receive Review Comments, Encouraged to Resubmit

  36. Tricks To Winning? • Read the Solicitation • Evaluation Criteria • Follow the Instructions!!! • Use the Template • Follow the Format • Ask Questions

  37. WSSI Electronic Newsletter • Updates (award winners, etc.) • Agency Openings/Closings • Upcoming Conferences, etc. • Sign Up for the WSSI Electronic Newsletter on the WSSI Web Site

  38. www.uwyo.edu/sbir

  39. Eugene (Gene) Watson Program Manager 307-742-7162 307-760-0456 cell ewatson@wyoming.com Kelly Haigler Cornish Outreach Coordinator 307-766-2520 1-866-703-3280 toll-free haigler@uwyo.edu or contact

  40. …or contact the staff of these partner organizationslocated in six regional offices throughout Wyoming • Manufacturing-Works • Wyoming Business Council • Wyoming Small BusinessDevelopment Centers

  41. Questions?

More Related