The SBIR proposal – Small Business Innovation Research program is a boon for early-stage startups that aim to raise funds for their business. Although the process might seem overwhelming, the right proposal can help you get faster results. Read on as we spill beans on the secrets of writing a professional SBIR proposal.
Small firms are given grants under the SBIR program to encourage innovation and research that will eventually be used commercially. The purpose of this program is to promote technological innovation. It also aims to use small businesses to meet federal research and development needs.
Moreover, it wants to assist socially and economically disadvantaged small businesses in technological innovation from federal research and development. Startups that receive SBIR funding greatly benefit from its non-dilutive nature, as no equity is required in exchange for the cash.
SBIR Program is Different from Academic and STTR Grants
Please understand that the SBIR is different from academic grants. An academic grant focuses on discovery and innovation. At the same time, SBIR is more about commercializing business ideas.
Similarly, STTR is ideal for seeking opportunities with the Department of Energy, the Department of Defense, the Department of Health and Human Services, NASA, or the National Science Foundation. Make sure you keep it in mind while crafting your proposal for SBIR. You can also consult an expert to understand which is better, SBIR Vs. STTR.
Talk to the SBIR Managers
It is one of the best ways to boost your chances of winning an SBIR grant for your small business. Contact the SBIR managers to know more about this program, its benefits, and chances of winning. You can also discuss your start-up idea, profits, vision, and mission.
It will help you immensely in writing the perfect proposal for this program. Remember, he or she can be the person who will handle your proposal in the long run. So, ensure you don’t leave any stone unturned in taking them in confidence.
Understand the Reviewers
Reviewers spend only 3 to 4 minutes on a proposal. So, ensure you don’t take their time and stress them. And how can you do that? By writing in a simple, easy-to-understand language. Apart from this, ensure you provide all the relevant and must-have details in your proposal to the review team. Search for the top SBIR proposal examples for a better clarity.
Avoid Common Mistakes
Proposals are frequently turned down because the applicants didn’t follow instructions or asked the appropriate institute or study area to assess them. By speaking with the program manager before submitting the proposal, the bulk of these problems can be avoided.
Lack of originality, lack of sound science, a shoddy research plan, an illogical experimental strategy, a lack of experience with the suggested methods, an impossible amount of work for the time available, a lack of objective metrics, a dearth of statistical analysis, and a lack of persuading commercial or societal impact are additional reasons for rejection.
Prepare Yourself
First, determine if SBIR is apt for your business or not. Here are some basics for you. The first phase SBIR grant is $150k to $225k for 6 to 12 months. If you feel that the first phase may not cover all your expenses, you should consider preparing for the second phase. The SBIR proposal can also demand between 150 to 450 hours of work.
Finally, the registration process can take another six to eight weeks. Some businesses may not have that bandwidth and consider other funding types. So, consider all these factors while writing for an SBIR program.
Write as per the Review Criteria
Every SBIR grant agency follows different criteria. So, keeping these factors in mind while drafting a proposal can help you immensely. Here are some common examples to consider while crafting phase one SBIR work plan:
- Significance of the project
- Expertise and experience of the team
- Are the aims innovative and novel?
- Type of business approach
- Business facilities and equipment
- Strengths and weakness of the business proposal
Phase two proposals seek higher credibility and promising commercialization prospects.
Utilize your Resources
SBIR bids are difficult and time-consuming. Startups can hire various experts and services to aid in the process if it proves too much for them to handle. However, a scientist-entrepreneur would benefit greatly from learning how to write a good SBIR. Fortunately, several resources are available for individuals who are drafting SBIR for the first time. You can watch some tutorials on the SBIR website for some latest SBIR templates.
Bottom Line
So, it was all about writing to win an SBIR program. Remember, the competition is very high, and you should put your best foot forward to get the maximum grant. It is a golden opportunity for all the budding business projects that have the potential to become successful commercial projects in the coming times.