10 Years of Helping Small Businesses Make an Impact

In the rapidly evolving world of modern medicine, it is important that the transition of basic scientific discoveries into new medical treatments takes place with both precision and speed. NIH’s Small Business Innovative Research (SBIR) and Small Business Technology Transfer (STTR) programs – which I’ve discussed a few times on the blog before – are a key part of NIH’s translational research portfolio. Each year, the SBIR and STTR programs provide over $750 million dollars to small US-based companies, often with deep roots and collaborations with research institutions, to conduct early stage innovative biomedical research with commercial potential. SBIR and STTR funding helps validate cutting-edge ideas through milestone-driven animal and early clinical studies or prototype development. The programs also help small businesses attract private capital and industry partnerships often needed to cross what’s commonly referred to as “the valley of death.” However, achieving technological feasibility is only one aspect along the path of commercialization. Academically trained principal investigators do not necessarily have the experience or business acumen to run a company. But that’s okay – NIH has several important resources to help them, one of which just celebrated its 10 year anniversary. The NIH SBIR/STTR Commercialization Assistance Program (CAP) is a 9-month mentoring and training program, designed to help NIH SBIR/STTR Phase II grantees develop techn...
Source: NIH Extramural Nexus - Category: Research Authors: Tags: Rock Talk Award Programs SBIR small business STTR Source Type: funding