The MSI STEM Research & Development Consortium (MSRDC) is pleased to announce our strategic alliance memorandum with the Small Business Administration (SBA). As well, MSRDC is pleased to announce the 2020 SBIR Road Tour, which will be a virtual event this year due to the global pandemic. Due to this alliance MSRDC, SBA, and various universities will be working together on the SBIR road tour which starts August 10th-14th, dubbed “SBIR Week in the Rockies". For additional details, contact Ahsan Choudary, Assistant Director of Research Development for MSRDC, at firstname.lastname@example.org.
About the 2020 SBIR Road Tour
The 2020 Regional SBIR Weeks are virtual, collaborative outreach efforts connecting entrepreneurs working on advanced technologies to the country’s largest source of early stage funding – the SBIR/STTR programs. Also known as America’s Seed Fund, the SBIR/STTR programs provide over $3.7 billion in funding to small businesses each year in a wide variety of technology areas.
Each virtual event, hosted by a local organization, will provide attendees with an opportunity to hear directly from the participating federal agency program managers that administer over 5,500 new awards annually and to meet virtually one-on-one with program decision makers.
Tour Dates & Locations
Even though the event is virtual, the format will remain similar:
ABOUT SBIR/STTR The Small Business Innovation Research (SBIR) program is a highly competitive United States Government non-dilutive funding source, coordinated by the Small Business Administration. It is intended to encourage domestic small businesses to engage in high-growth research and development (R&D). Funding takes the form of contracts or grants and the awardee projects must have the potential for commercialization while meeting specific U.S. Government R&D requirements.
The SBIR program was created to support scientific excellence and technological innovation through the investment of federal research funds in critical American priorities to build a strong national economy. In the words of program founder Roland Tibbetts: “to provide funding for some of the best early-stage innovation ideas — ideas that, however promising, are still too high risk for private investors, including venture capital firms.”
For the purposes of the SBIR program, the term “small business” is defined as a for-profit business with fewer than 500 employees, owned by one or more individuals who are citizens of, or permanent resident aliens in, the United States of America. Funds are obtained by allocating a certain percentage of the total extramural (R&D) budgets of the 11 federal agencies with extramural research budgets in excess of $100 million. Approximately, $3.7 billion is awarded through the program each year with each agency administering its own individual program within the guidelines established by Congress.