Grant Opportunities for Iowa Companies
Do you have a novel, innovative idea to solve a problem in technology, energy, medicine, agriculture, transportation, education, or for the military? If you do, one of 11 federal agencies might award up to $1.7 million in grant money to your for-profit company to develop the idea, and The Iowa Innovation Corporation can help you try to get it. The money would come from a pool of over $2.6 billion in grants issued through the Small Business Innovation Research (SBIR) and the Small Business Technology Transfer (STTR) programs each year.
SBIR and STTR are both designed as 3-phase programs. In total, a company can get up to $1.7M for each proposal, depending on the agency, in the form of grants that won’t dilute your equity and do not have to be paid back. The 3 phases are:
- Phase I
- Proof-of-concept/feasibility study
- Up to $150-$225K for a 6 month project
- Phase II
- Full Research/R&D effort
- Up to $1.0-$1.5M for a 2 year project
- Some applicants may be able to apply directly to Phase II (DoD, NIH and ED only)
- Phase III
- Commercialization phase
- There are no SBIR/STTR funds for this phase. Outside capital is required.
So how do you submit a proposal for the program? First, identify a relevant topic that is a good fit for your idea from a currently open solicitation or from a recent solicitation from one of the granting agencies (e.g., NSF, NIH, DOE, USDA, ED). You can find these at sbir.gov, zyn.com, or any of the individual agency websites. After you find a topic, you need to identify the proposal due dates, and submit a complete, well-crafted proposal before the final deadline.
The Iowa Innovation Corporation’s SBIR/STTR Outreach Program is designed to help you complete this process effectively. We help you identify the right topic and answer any questions you have about the program. Additionally, we have 2 programs to strengthen your proposal and support your idea’s commercialization.
- Professional Grant Writing Support – Covers 2/3 of the cost of hiring a professional grant writer to help you write the proposal or a reviewer to help you edit it.
- Commitment to Match – Receive up to $25,000 in matching funds for a Phase 1 award and a letter of support to strengthen your proposal (must apply before Phase 1 submittal).
For more information about the SBIR or STTR programs feel free to contact me at [email protected].