The IRISBF provides grants of up to $3,000 to assist small businesses offset the costs associated with preparing a competitive Phase I SBIR/STTR.
Donor Name: Rhode Island Science and Technology Advisory Council
State: Rhode Island
County: All Counties
Type of Grant: Grant
Deadline: 06/30/2023
Size of the Grant: up to $3,000
Details:
The federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Programs represent the largest source of early-stage, high-risk technology financing in the United States. Eleven federal agencies participate in this program which provides over $2 billion for early stage research and development projects leading to commercialization of resulting products or services. The programs are designed to benefit entrepreneurs and small businesses — while increasing the competitiveness of the U.S. economy — by funding the development of innovative products and services. Agencies award grants to explore the technical merit of an idea or technology in response to a specific agency topical need. The IRISBF provides grants of up to $3,000 to assist small businesses offset the costs associated with preparing a competitive Phase I SBIR/STTR.
Funding Information
The Innovate Rhode Island Small Business Account is a special revenue fund to be administered by the Rhode Island Science & Technology Advisory Council in the amount of $1,000,000 for FY 20.
Amount of Award and Restrictions
Applicants may receive a grant as reimbursement for up to 50% of eligible direct costs up to a maximum of $3000.00 associated with preparing and submitting a Phase I SBIR/STTR grant application.
A business may receive only (1) Grant per calendar year and may receive only (1) grant with respect to each federal proposal submission.
Costs that may be reimbursed include:
- proposal review and editing
- electronic submittal of proposals
- budget preparation and review
- project related supplies
Applicants must certify that professionals retained by the applicant and for whose services reimbursement is sought are qualified to provide the services as defined by any combination of the following competencies:
- familiar with federal regulations, proposal development
- subcontract management experience in government or civilian contracting
- technical writing expertise
- experience defining existing market opportunities and assessing potential markets
- experience commercializing technology products and services
- knowledge of federal accounting systems and reporting requirements
- experience in grant application review
- marketing, product management, business process redesign.
Eligibility Criteria
In order to be eligible for a grant, a business must satisfy the following conditions:
- Is a for-profit Rhode Island-based business with fifty (50) or fewer employees. For purposes of this program, a Rhode Island-based business is one that has its principal place of business and at least fifty-one percent (51%) of its employees residing in this state;
- Has submitted a qualified SBIR/STTR Phase I proposal to a participating federal agency in response to a specific federal solicitation.
Applicants meeting the above eligibility criteria must also:
- Satisfy all federal SBIR/STTR requirements;
- Certified that at least fifty-one percent of the research described in the SBIR/STTR Phase I proposal will be conducted in Rhode Island and that the business will remain a Rhode Island based business for the duration of the SBIR/STTR Phase I project;
- Demonstrated Freedom to Operate;
- Pledges it has not received and will not seek concurrent funding support from other sources that duplicate the purpose of the matching grant;
For more information, visit RISTAC.
