In a lingering recession, seed money to develop new technologies in the private marketplace is more difficult to find than ever. But for intrepid entrepreneurs with good—no, make that great—ideas, the federal government is willing to help. An array of programs designed to help move new technology to the marketplace and spur the economy exists across the federal spectrum.
Not surprisingly, the Small Business Administration is at the forefront of this effort with its Small Business Innovation Research (SBIR) and Small Business Technology Transfer programs (STTR).
SBIR allows qualified small businesses to compete for research and development financing by proposing innovations that meet the needs of the federal government. The program is a highly competitive, three-phase award system, specifically designed to fund research and development activities that private sector investors may label “too early” or “too risky.” SBIR, and its sister, STTR, encourage small firms to undertake scientific research that helps meet federal R&D objectives, and have high potential for commercialization if successful.
To read the full, original article click on this link: Where's the Money? | Innovation America
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