START WINNING SMALL BUSINESS INNOVATION RESEARCH FUNDS IN IOWA
Thursday, September 06, 2018
The Small Business Innovation Research (SBIR) program is a competitive program that encourages small businesses in the U.S. to engage in research and development (R&D) with the potential for commercialization. Every federal agency with an R&D budget greater than $1 million dollars must spend a portion of it on work conducted by businesses with fewer than 500 employees. The state of Iowa wants to help Iowa businesses win these federal grants and contracts.
SBIR funding comes in two phases: Phase I and Phase II. Businesses awarded Phase I funding are eligible to apply for Phase II funding. Phase I awards $150,000-$225,000 for 6-12-month projects and Phase II awards up $1 million for businesses to bring a product to commercial scale.