Government funding can be tricky. Small Business Innovation Research (SBIR) grants, for example, are a great opportunity for small businesses to gain substantial funding to help their business grow. However, there are a lot of steps a business needs to take to apply for SBIR and other forms of government funding, and missing one could set your business back substantially, or eliminate your opportunity to apply all together. This is why it is critical that you do not wait until the deadline arrives to look for and fulfill government registration requirements.
Using SBIR as an example, the majority of SBIR grants will require your business to provide both a DUNS number and an Employee Identification Number (EIN). All government grants will require some sort of registration on a government portal, such as Sam.gov, SBIR.gov, or grants.gov. Certain government agencies, such as the Environmental Protection Agency, or the National Institute of Health, may have their own registration portals. The Department of Defense, for example, requires applicants to register on its own DOD SBIR portal, in addition to grants.gov and Sam.gov. In sum, there are plenty of registration requirements, and meeting all of them is critical to securing funding through SBIR or other government programs.
Because it can be easy to miss a requirement, the best way to ensure you are aware of all information is to start your registrations as soon as you begin the application process. This means you should be starting or updating registrations at least 60 days prior to the application deadline. This will give you sufficient time to meet all of the requirements and give your business the best chance of securing government funding.
We help high-growth startups find and apply for non-dilutive funding. Schedule a consult call with us HERE.