Friday, October 2, 2009

Small Business Innovation Research

Small Business Innovation Research is a federal program created to support research and design projects for small businesses nationwide. The largest Federal agencies must set aside a percentage (currently 2.5%) of their R and D budget for SBIR projects. In 2008 this represented over $2 billion of available funding.

These projects are reserved for our domestic for-profit small businesses that are independently owned and operated by individuals (not large entities). The agencies pose problems, usually tough ones that they need solved to help fulfill their missions. The small businesses are invited to submit proposals for solving them, describing how they’re going to do the work and spend the money (up to $850K in two phases – feasibility and prototype development).

The proposals are evaluated and the best ones are funded, based solely on the merits of the planned project, the qualifications of the team, and the potential for turning the technology developed into a business with potential customers being from both the government and the private sector.

Visit the SBIR website for more information:

(Source: Small Biz Survival Blog 9/28/09)

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