November 7, 2023
Last month, as part of the Knowledge Exchange webinar series of the annual Biotech Innovation Gallery pre-accelerator program, Venture Catalyst hosted Stephanie Davis, program coordinator of the SBIR/STTR (Small Business Innovation Research and Small Business Technology Transfer) for the National Heart, Lung, and Blood Institute (NHLBI). The webinar enabled participants to gain insights on submitting a successful grant application, upcoming funding opportunities and other specific resources and programs for researchers and entrepreneurs.
The NHLBI supports the development of heart, lung, blood, and sleep-focused biomedical technologies through the federally-funded SBIR and STTR programs for US based for-profit businesses with 500 or fewer employees. Technologies funded by the NHLBI small business program include developing therapeutics, supportive and monitoring devices, digital health, in-vitro diagnostics, etc.
The SBIR is intended for small business concerns to engage in federal research and development (R&D) efforts, whereas the STTR is to facilitate cooperative R&D between small businesses and US research institutions, with the end goal to potentially commercialize the technology for both the programs. The work is usually divided into two phases, with Phase I intended for feasibility study over 1-2 years for about $295K grant, whereas Phase II is intended for full R&D over 1-3 years for about $1.9 million grant. There is also a fast-track option to directly apply to Phase II. The review criteria for these programs include the significance of the real-world problem and commercialization potential, as well as the innovation, approach, available facilities/resources and diversity and application phase-specific considerations.
For more information, watch the recording of the webinar here.