Getting funding from the SBA
The federal government has $2.5 billion that it can give to small business owners every year. Mark Walsh, the head of investment and innovation at the SBA, and Nina Tandon, the co-founder and CEO of Epibone, talk about accessing this funding.
Largest Seed Fund on the Road
At the SBA, we oversee America's Largest Seed Fund, formally known as the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs.
These highly competitive programs provide the needed impetus for many advanced technology firms to move from ideation to commercialization, supporting our country's innovation driven economy. Since the programs' inception, there have been over 150,000 awards totaling about $40 billion to help this country's innovators and de-risk technology investments needed to keep our country competitive. Annually, thousands of American innovators gain access to $2.5 billion in non-dilutive seed capital through the SBIR/STTR programs. While these programs are national in scope, not all communities have fully utilized this opportunity.
We recognize that American innovation is not restricted by geographic boundaries, and to ensure that all of America's future innovators are aware of this advantageous funding opportunity, SBA and 11 federal agencies are taking the show on the road and embarking on an 18 state SBIR Road Tour.
The SBIR Road Tour "Seeding America's Future Innovations", is a nationally focused outreach initiative targeting advanced technology communities, including women-owned and minority-owned firms, in states that have underutilized this funding opportunity. Over the course of 2015, I am glad to announce that more than 20 individual program managers from the 11 participating agencies will travel by motor coach to convey the non-dilutive technology seed fund opportunity. Each SBIR Road Tour stop is hosted by a local organization committed to supporting technology-based entrepreneurship, and will provide attendees with a coveted local opportunity to hear directly from federal agency program managers, and meet one-on-one with program decision makers.
The first series will take place the week of March 23rd, with stops in Louisville, KY, Nashville, TN, Atlanta, GA, and Columbia, SC. The next stop is the week of April 27th in Long Beach, MS, Ruston, LA, Oklahoma City, OK, Wichita, KS, and Columbia, MO. Trips to the North Central region is planned for July and the last to the Northwest in August.
It's like a rock band tour with a twist - the rock stars are America's innovators and we want to give you a stage to explore these amazing programs.
If you're a small technology firm, innovator, scientist or researcher, I encourage you to take advantage of this opportunity. Since the SBIR/STTR programs inception, it has provided seed funding to companies including Qualcomm, iRobot, Symantec, and Genzyme. Through this outreach initiative, I am confident we will continue to expand on the program's success, and am excited to see what innovation we seed next.
For more information on the SBIR Road Tour and the SBIR program visit www.sbir.gov.
item for us?