Did you know you can secure funds to build your intellectual property AND retain ownership?
Sound impossible? Not according to one Indiana small business that’s making it happen.
“The Small Business Innovation Research (SBIR) Program has really helped us to move our research forward, and new technology helps our warfighters. What’s so great about it is we receive funding AND still own the intellectual property,” said Jeff Erickson, Principal Investigator, Erickson Motors & Engine Research Associates, Inc. He is part owner of this family-owned business that received total awards of $6.3 million through the SBIR Program.
What IS the SBIR and STTR Program?
The SBIR and STTR (Small Business Technology Transfer) Program is part of America’s SEED Fund, powered by the U.S. Small Business Administration.
“Through a competitive awards-based program, SBIR and STTR enable small businesses to explore their technological potential and provide the incentive to profit from its commercialization. By including qualified small businesses in the nation’s R&D arena, high-tech innovation is stimulated, and the United States gains entrepreneurial spirit as it meets its specific research and development needs.” Sbir.gov
Erickson’s Top 5 Tips for Small Businesses Applying for SBIR/STIR Funds
Erickson shared his expertise with fellow entrepreneurs at a recent 3rd Thursday Client Connect lunch at NIIC. “We’ve bid on over 33 SBIRs and have been awarded $6.3 million. This includes eight SBIR Phase 1 contracts and five SBIR Phase II contracts.,” said Erickson.
Are you interested in learning more?