SBIR is a competitive federal government grant program that funds small businesses in developing innovative, high-risk technologies with the goal of increasing private sector commercialization into the marketplace. SBIR is a highly specialized form of funding for small firms (less than 500 employees) to perform cutting-edge R&D that addresses the nation's most critical scientific, engineering and technology needs.
Enacted by Congress in 1982, there are 11 federal agencies that have R&D budgets of $100 million or more. Each agency is required by statue to set-aside 2.5% of these funds to SBIR/STTR incentives, creating a great opportunity for small and innovative businesses to apply for these funds. This translates to nearly $2.5 billion available annually for awarding grants/contracts under this program.
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