Applying for an SBA grant requires significant research.
The U.S. Small Business Administration (SBA) offers two research grants in partnership with federal laboratories. They are designed for small business technology companies that are American-owned and that employ fewer than 500 people. The grants are extremely competitive and the applications require significant preparation. Funding is earmarked for feasibility studies and for research and development leading to commercialization of new technologies.
SBA Search Engine
Sources of venture capital can be located through the SBA's online search engine.
The SBA provides an online search engine for locating loans, grants and seed (start-up) venture capital. The site may be searched by industry (technology), state, energy efficiency, grants to minority or woman-owned businesses, and whether the business is start-up or expansion, among other parameters. The search includes federal, state and local government programs, as well as private sources.
SBIR Grants
The SBA offers technology research grants in partnership with U.S. federal laboratories, such as the departments of Defense, Energy and Commerce. These Small Business Innovation Research (SBIR) grants enable a small business to compete for grants on research topics offered by eleven federal labs. The program encourages small technology businesses to perform research that could lead to commercializing the new technology.
STTR Grants
Under the Small Business Technology Transfer (STTR) program, a business partners with a university or nonprofit research organization that has similar research interests. Together they compete for research solicitations offered by the various federal laboratories. Grantees are chosen on the basis of business qualifications and technology research capabilities. The grant process for companies that win a solicitation is divided into three phases. Phase 1, feasibility, carries an award of $100,000 in 2011. Phase 2, research and development, includes a grant of $750,000. Phase 3 is commercialization or bringing the new product to the marketplace. No funds are provided for this phase.
Eligibility Criteria
The SBA coordinates the two research grant programs, and serves as the contact group for interested small business technology companies. It collects and publishes the solicitations offered by the eleven federal laboratories on a quarterly basis and makes them available for small businesses to review. To be eligible to apply for these grants, a company must be for-profit, American-owned, and with no more than 500 employees. Also, the principal researcher must be an employee of the company.
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