Key elements of federal R&D funding success

business challenge conceptIf you’re a scientist or engineer with a passion for developing your own technology as a small business or innovator – and you don’t want to give away the farm to an investor or venture capital firm – small business government R&D funding may be just your ticket.

Because it’s non-dilutive funding, meaning you’re not trading equity in your innovation for investment dollars, you can use government grants or contracts to grow your business – with the goal of commercialization (yes, this includes exit event potential for founder/owners). Whether you want $150,000 or tens of millions of dollars to underwrite your innovation, small business government R&D funding lets you keep 100 percent of your business.

There’s a tradeoff: Wading through red tape

Like anything, though, there are tradeoffs. And working with the government comes with a process, a system that’s worked for decades, and one that many refer to as red tape.

The key element to successfully working with the government is understanding all the requirements of an awarded contract or grant, and ensuring you meet them by the agreed-to deadlines. When you’ve done that, you’re practically guaranteed that you’ll win more awards and grow your business.

Other key elements include:

  • You must have the best scientific or technical innovation that solves a market problem. Government agencies only want the innovations that will best serve it, our people and our nation.
  • You must have a Ph.D. or be working toward your doctorate. Government agencies choose to work with the finest minds in any industry and they prefer working with those who have advanced degrees.
  • Your cost or prices must be compliant. Selling your product or R&D services for to the government is complex and labor intensive. And if your prices processes aren’t allowable, you won’t be keep the funding.

Green Tape unravels red tape

Green Tape has deep experience in helping innovators win multiple small business government R&D funding awards. We know where to find funding, how to write proposals and help innovators price products and services to win government awards. In fact, our win rate on behalf of clients is well above the industry average.

Want to win a small business government R&D award? Contact us for more information about how we can help you.