Unbeknownst to many small businesses engaged in technology is that the SBA Office of Investment & Innovation (SBIR) has $4 billion annually available in grants for the development of commercially viable innovations.   The program, begun in 1982 under President Reagan, has awarded more than $43 billion to research-intensive business in the U.S.

 

Details of hundreds of different grant possibilities overseen by 11 federal agencies are available at www.sbir.gov.  By far, the biggest chunk of the budget goes to the Department of Defense, followed by Health & Human Services, Department of Energy, NASA and National Science Foundation.  The other seven agencies account for the remaining $70+ million.   A  good PowerPoint presentation on the SBIR website can also be downloaded by clicking on “about SBIR”, and then “program overview presentation.”  Competition each year has become more competitive as more small businesses learn about the grant funding 

 

How might you enhance your chances in an increasingly competitive SBIR grant application process and get an SBIR grant?   Here are three suggestions.

 

Once you’ve determined what SBIR grant you’re seeking, read it over thoroughly.  Then print it out and read it two more times, highlighting the critical points and areas.  It’s extremely critical to understand the purpose and objectives for the grant.

 

Second, to enhance your chances of getting an SBIR grant, inventory the strongest assets and skills you bring and which align with the grant objectives.  These are important to the grant application process.

 

Third, know that to get the SBIR grant, you will also need to quantify your work and results.  Be sure to clearly spell out how you will measure your results and at what milestones.  This can make a huge difference in differentiating your company from others in the highly competitive grant application process.