What is NIST?
The NIST is the acronym for a division of the Department of Commerce called the National Institute of Standards and Technology. NIST’s purpose is advancing measurement science, standards, and technology in ways that enhance economic security and improve our quality of life. To advance innovation in this field, the NIST participates in the Small Business Innovation Research (SBIR) program. In the 6th month Phase I part of the trial, research and development R&D will be performed to support the hypothesis. Phase II will focus on commercialization.
As with all SBIR programs, you must be a for-profit business with fewer than 500 employees and offer an innovative approach to solving a problem with a product or idea. And don’t forget your required registrations. To be eligible to receive an award you must obtain an EIN and DUNS number. You must also register with grants.gov, the System for Award Management (SAM), and the SBA company registry. Remember, some of these registrations can take up to 5 weeks to complete, so do not wait until the last minute to complete registrations.
The funding award for NIST SBIR is up to $150,000, however, awards of up to $225,000 have been documented. This grant opportunity is open to US small businesses with projects that adhere to the topic list. The funds do not need to be paid back. This can be a great opportunity to raise capital to fund R&D on a product or project. The release will take place in mid-January and all submissions must be in by April 3rd. Here is a list of key dates to be aware of:
01/16/2020 Solicitation Release
04/03/2020 Solicitation Close
04/10/2020 Administrative Screening Complete
04/11/2020 Phase I Proposals Distributed for Evaluation
05/11/2020 Phase I Evaluations Complete
05/15/2020 Phase I Selections Complete
06/22/2020 Notice to Awardees
06/22/2020 Notice to Non-Awardees
Creating a successful #SBIR proposal requires the collection of a few key pieces of information. Items of import include a hypothesis, an idea of who will be on your research team, budget expectations, and stakeholders or colleagues you can reach out to as references. These four simple things will allow your consultant to craft a cohesive proposal for you.
If you think you or someone you know would be a good candidate for NIST SBIR now is the time to start preparing your application!
We help high-growth startups find and apply for non-dilutive funding. Schedule a consult call with us HERE.