It is the largest seed fund in the world for STEM small businesses, providing over $2.8 B in non-dilutive funding per year for US small businesses. The small businesses primarily receive funding through two Phases for a given project. Phase I is a feasibility/proof of concept study and the award is on average $150K; Phase II is a full research and development study, and the award is on average $750K.
The SBIR/STTR Program is a US Government Federal Program overseen by the SBA, with funding contributed from 11 federal agencies with large R&D budgets.
The State of Indiana has an SBIR/STTR Program in place that aims to increase applications across the state of IN as a source of non-dilutive R&D investment for IN small businesses. Through this program, State of IN SBIR/STTR-eligible businesses receive comprehensive support across the program lifecycle, from aid with finding the best grant/agency fit to apply to, to writing the grant (both Phases), to aid with audits at the end of Phase II. The program also matches Phase I grants awarded to a company $.50 /$1.00 of Federal funds awarded up to $100K – providing an additional $50K in non-dilutive funding to awardees.
The State of IN SBIR/STTR Program Office operates out of the Purdue Foundry, with the Program Director and staff utilizing Purdue Foundry meeting space and resources to best align clients for success in SBIR/STTR application. The office location at Purdue is strategic, so that cross-pollination occurs with closely aligned SBIR/STTR resources located at Purdue, including NSF I-Corps, National Laboratory liaisons, and the MEP/TAP program.
Individuals wishing to pursue SBIR/STTR funding will work jointly with the Purdue Foundry and State of Indiana SBIR/STTR Program to find and pursue the best grant from the Federal Agency best aligned to their small business and project/technology.
Applicants will need to demonstrate that they are an IN-based company to access the State of IN SBIR/STTR Program offerings, and show their plans to pursue STEM R&D work in the state.
The Best SBIR/STTR Applicants will: