Funding your company through Federal & State $$ Robbie Melton High Technology Development Corp.

Federal Funding Opportunities Grants Small Business Innovation Research Grants (SBIR) Broad Agency Announcements (BAA) Contracts 8(a) Loans SBA USDA

Small Business Innovation Research Program (SBIR)

So What is SBIR? A federally mandated program in 11 agencies Meet Federal research and development needs Relies on Companies to do R&D of critical need to the U.S. Stimulate technological innovation www.sbir.gov

Why SBIR? FREE MONEY! Over $2 billion annually for small business 3 Funding Phases: Ph I – feasibility/market potential $150,000 Ph II – Development phase $1,000,000 Ph III commercialization (no SBIR $)

Participating Agencies Department of Agriculture Department of Commerce- NOAA NIST Department of Defense Department of Education Department of Energy

Participating Agencies Department of Health & Human Services Department of Homeland Security Department of Transportation Environmental Protection Agency National Aeronautics and Space Administration National Science Foundation

SBIR Eligibility Must be a small business independently owned and operated for profit < 500 employees Principal place of business in US, 51% owned by US Citizen The PI must be primarily employed by the small business 2/3 of the work must be conducted by the business in Ph I

Caveats SBIR doesn’t fund: Mere product improvements Only product development (w/o high risk research) Proposals not in areas of critical national need Research teams lacking credibility (in eyes of reviewers) Poorly-written proposals

Less than 20% of all applications get funded Want to know more? Check out currently open solicitations www.sbir.gov, www.zyn.com, www.grants.gov Proposal must include: Business Plan, Executive Summary, Cost Proposal, Technical Proposal Less than 20% of all applications get funded

Hawaii SBIR Champions

Hawaii SBIR Matching Grant A program of HTDC

Hawaii SBIR Awards 96 Hawaii Companies 332 Awards totally $106 million $36 million Phase 1 $70 million Phase 2 Attracted $72 million in additional funding to Hawaii

Leverages the Federal $$$ Pay for expenses restricted by the Federal Grant Travel to meet customers or attend conferences Market research and business planning Purchase additional equipment Hire employees Helps companies develop their product faster

Hawaii SBIR Matching Funds Phase 0 (application) $3,000 Phase 1 up to $75,000 Phase 2 up to $500,000 Phase 3 up to $500,000 IT’S A GRANT! Potential free funding for your product Up to $1.5 million

Hawaii SBIR Matching Funds Application Process Apply on line www.htdc.org A 2 tier review process Make presentations Must have received Federal SBIR award notice to qualify Economic Development for company Awards are competitive Applications are now being accepted

SBIR Application Assistance SBIR program has strict application requirements Innovate Hawaii provides: SBIR orientation/qualification Proposal writing assistance Training workshops and conferences Product development assistance

Additional Assistance Finding qualified researchers Conducting Market Research Commercialization assistance (biz planning, product development, sourcing suppliers, etc.)

Manufacturing Assistance Program Another Grant! Matching grant up to 20% to a maximum of $100,000 of Costs Eligible Expenses purchasing equipment, training employees on equipment, energy efficiency improvements, feasibility studies for establishing manufacturing Must be manufacturing in HI & have appropriate NAICS codes.

THANK YOU sbir@htdc.org 808-539-3603