A Crash Course on SBIR
Within the confines of the National Institute of Health (NIH) Small Business Innovation Research (SBIR) solicitations, there are three main categories to be on the lookout for- Phase I, Phase II, and Fast-Track. Each type of submission has its own rules, regulations, award amounts, and time frame. Recognizing the difference and deciding which one is the best fit for your project can save a lot of time and frustration.
SBIR Phase I Explained
A Phase I SBIR is intended to allow the testing of technical merit and feasibility of a proposed Research and Development (R&D) Project. The award is usually $150,000 and the allocated time frame is 6-12 months. No commercialization plan is needed for this type of submission. If your feasibility studies have already been completed, you can apply for a Direct Phase II, bypassing Phase I.
Phase II Explained
A Phase II SBIR is a full R&D award in the amount of $1,000,000 for two years. The purpose is to fine-tune and commercialize the technology. Phase II SBIR does require a commercialization plan. If your project will take more time and effort to test and develop, you could apply for a Phase IIB SBIR award, which offers 3 years.
For those who like to live on the edge, there is also the Fast-Track option, where you will submit Phase I and Phase II applications together to be reviewed at once. Fast-Track awards can range from $150,000 to $1,000,000 and 2.5-3 years. Fast-Track requires you follow all Phase I and Phase II regulations.
We are your single source for all your non-dilutive grant funding activities. From identification of relevant funding opportunities through the development of a long-term multi-submission approach to successful execution, and subsequent measuring of your outcomes from your award! We can help you locate funding, apply for funding, and help organizations measure & report on outcomes. Schedule a consult call with us HERE.