Everyone knows that small startup technology businesses are always in need of funding. Unfortunately, there are few sources of money available to companies that are years away from developing a product, if one can even be developed at all. How can companies developing high-risk, high-reward innovations keep themselves afloat?
One avenue is the SBIR/STTR programs. The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs are U.S. government programs, coordinated by the Small Business Administration, intended to help certain small businesses conduct research and development. The money provided by these grants is non-dilutive, free money that the company never has to repay and for which no equity is given.
Free money isn’t easy to get, though, and competition to win a SBIR/STTR award is great. There are ways to increase the odds of winning, though. In Michigan, the best way to improve the odds is by engaging with BBCetc at https://bbcetc.com.
BBCetc is a nationally recognized, results-driven entrepreneurial consulting group specializing in helping emerging companies win SBIR/STTR funding and use it strategically to propel growth. BBC-assisted proposals have a success rate two to three times greater than the national average across several federal agencies. Its Michigan clients have been awarded well over $100 million in funding since 2002.
(Fun Fact: What does BBC stand for? The entrepreneurial assistance firm was originally named Biotechnology Business Consultants until its services spread well beyond biotech.)
In 2020, BBC Education, Training & Consulting (BBC) is offering a series of eight seminars at the WMed Innovation Center to help prepare people to apply for government R&D grants. Over the course of this series participants will learn everything they need to know about finding a grant topic that is right for their companies and writing compelling proposals. Interested people are encouraged to come to one session or come to them all. See below for more details.
