Scoring the win – driving innovative R&D with SBIRs
Working on commercializing your great idea? Striving to create a new culture of innovation and R&D in your organization?
In today’s financial environment, the federal government – and to a certain extent, Indiana state government and related public-private partnerships – are willing to absorb some development risk and help pony up first, second and third stage funding to drive innovation in critical area.
Through the Small Business Innovation Grant (SBIR) and related programs, small and medium-sized businesses can attract and secure anywhere from $50,000 to $5 million over time to take and idea, concept or prototype from a lab bench to full-scale commercialization.
Numerous industry professionals, university engagement administrators and federal officials all provided key information to advancing this pathway toward technology commercialization at a R&D conference hosted by Rolls Royce in Indianapolis (December 5).
Want to be considered? Focus on communicating high value of your capacity , your idea and your ability to develop your idea. This includes your online presence on the Web and other digital means, which are accessed and read by potential funding sources at the federal, state, university and contracting levels.
Ready to make some money through innovation? Often the first phase of funding for an SBIR includes you putting in extra effort, even losing money on the first round. That why, according to professionals, you need to be thinking long-range through the second and third potential rounds of federal funding.
Want more information? E-mail me at msnyder@themekgroup.com for a full summary from the conference.
By Michael Snyder, Managing Principal, The MEK Group
About Michael Snyder and The MEK Group – As the Indianapolis Star stated in major profile coverage, “Michael Snyder knows brands.” Snyder today is managing principal of The MEK Group, an award-winning marketing, branding and PR firm known for creating transformational high-impact outcomes. For more information, please visit www.themekgroup.com