Drafting and implementing an effective SBIR IP strategy requires understanding the legal landscape. It also requires executing sound accounting and business practices.
Colorado Springs, CO, Dec. 19, 2021 (GLOBE NEWSWIRE) -- The Small Business Innovative Research (SBIR) and Small Business Technology Transfer (STTR) programs (referred collectively hereafter as SBIR) directly target small innovative companies to participate in federally funded research and development. The SBIR program, established in the Small Business Innovation Development Act, requires agencies conducting substantial R&D to set aside funds earmarked for small business innovation efforts.i
Since its inception, the program has consistently surpassed expectations, leading to continual growth and funding. SBIR grants leverage the well-known fact that the majority of innovation is found in small, not large, companies. And, the more than $50 billion of taxpayer money granted to small businesses has been pushed back into the economy with a more than 22:1 return.
3 Phases of SBIRs
SBIRs are broken into three phases. Simply stated, in phase I, the government pays the business to provide a concept addressing a governmental need or pain point. In phase II, the government likes the concept and provides money to develop a prototype (proof of concept). Finally, in phase III, the government engages with the small business and purchases additional products.
It seems natural to expect that in exchange for an SBIR...
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