Deep technologies aren’t developed overnight. And venture capital is known to seek out opportunities that can exit within 3-5 years. So what do you do when you have a promising commercially-viable technology that can improve the world, or at least your industry, but you need more money and more time than investors want to give?
You look for non-dilutive grants that will support your research and development. You look at Small Business Innovation and Research (SBIR) and Small Business Technology Transfer (STTR) programs that can enable you to raise your technology readiness level (TRL) while working on your business model and commercialization strategy. With funding from 11 federal agencies, including Health and Human Services (NIH, NIA, FDA, CDC), Department of Defense (DoD), and the National Science Foundation (NSF), this highly competitive program offers significant, non-dilutive funding for businesses that are scalable, have demonstrated market interest and hold the potential to be game-changing.
While the SBIR/STTR program is highly competitive, the Purdue Foundry can give our founders an advantage. Startups with Purdue IP may be eligible for grant writing assistance from one of our experienced, professional consultants. If you have a startup with Purdue IP and you’re interested in learning how we can help, reach out to us at firstname.lastname@example.org.