SBIR/STTR Training July 2018
aMDI organizes training on applying for SBIR/STTR grants
applied Medical Device Institute (aMDI) organized a half-day long training on July 12, to introduce a small invited group to the SBIR/STTR program and how to leverage the grant dollars to bring their product to market. The Federal SBIR/STTR programs award over $2.6 billion in high risk R&D funding annually to qualified small businesses. The process for applying can be complex, but with training and assistance, SBIR/STTR can become a catalyst for launching a company.
The training was conducted by Austin Dean, Principal Consultant at BBC Entrepreneurial Training & Consulting. Austin joined BBCetc in 2017 with a background in business incubation, acceleration services and early-stage investing. Most recently, he served as the Operations Director for Grand Rapids-based Start Garden Inc., the leading business incubator for IoT companies in West Michigan.
Prior to his role at Start Garden, he managed an accelerator program, served as gatekeeper for statewide capital programs, and supported a portfolio of high-growth companies on behalf of Michigan’s Grand Rapids SmartZone. Austin has owned and operated businesses in enterprise SaaS, consumer products, and human resources. He received a BA and an MBA in Finance from Grand Valley, and has formerly worked as a business analyst for Merrill Lynch and Charter Capital Partners.
The session covered all aspects of writing SBIR/STTR grants focused on life science technologies including: eligibility, sources of funding, agency differences, peer review process, and NIH proposal sections/components. A comprehensive agenda sought to provide attendees clarity on:
- SBIR/STTR program overview
- Strategies for targeting a proposal to meet the mission and requirements of the NIH
- Common problems and pitfalls and how to avoid them
- Building a competitive team
- Utilizing sub-awardees, and consultants
- Creating a fundraising timeline that fits their goals
- What to do once they learn they are going to be funded (and what to do if they’re not)
The event also provided networking opportunities over breakfast and coffee, and was sponsored by BBCetc, applied Medical Device Institute (aMDI), and Padnos College of Engineering and Computing.