Your business stands to gain significantly from this unique funding opportunity. This program offers additional funding for projects that have already received SBIR or STTR Phase II support, specifically aimed at bridging the financial gap that often hampers the transition from product development to commercialization. By applying, you can advance your product or technology toward Federal regulatory approval or bring complex research tools to market more effectively.

Participating in this program allows you to form partnerships with strategic investors or collaborators, creating a stronger support system for your project. The focus on securing independent third-party financing means you won't be solely reliant on one funding source, allowing for a more robust financial foundation. This strategy can enhance your chances of successfully bringing your innovations to market and realizing your business goals.

Overall, the ease of qualification alongside the potential for substantial financial support makes this program a compelling option for businesses like yours. Don't miss out on a chance to elevate your project and position it for success.

The financing offered through this program is primarily in the form of grants and non-repayable funds. These funds assist in bridging the gap between the SBIR/STTR Phase II award and the commercialization stage.

Repayment Terms and Interest Rates

There are no repayment terms or interest rates associated with grant funding in this program. This means you won't have to pay back the funds, allowing you to focus on developing your project without the burden of debt.

Eligible Expenses

The funds can be used for a range of eligible expenses, including:

• Research and Development Costs: To further advance and refine your product or technology.
• Regulatory Approval Expenses: Costs related to obtaining federal approval for your medical biotechnology products.
• Partnership Development: Expenses for securing third-party investments or strategic partnerships to support your project's commercialization.

Limitations on Fund Use

It's important to note that the funds cannot be used for:

• Non-commercial activities or projects unrelated to your primary goal.

• Any personal expenses unrelated to business operations.

  Associated Fees

  There are no upfront fees to access the funds. However, maintaining compliance with program guidelines is essential to ensure continued eligibility for funding throughout the project.

• Must have previously received SBIR or STTR Phase II funding.
• Geographical Availability: Open to businesses across the country.
• Sectors: All sectors are eligible to apply.
• Minimum Employees: No minimum number of employees required.
• Maximum Employees: No maximum number of employees required.
• Minimum Company Revenue: No minimum revenue requirements.
• Maximum Company Revenue: No maximum revenue requirements.
• Legal Structure: All legal structures are applicable.
• Profit Structure: All profit structures are applicable.

Disqualifications:

• Projects must have received SBIR or STTR Phase II funding; those without this prior funding are disqualified.

Your business could greatly benefit from this program, designed to provide additional funding for projects that have already received SBIR or STTR Phase II support. This funding helps you bridge the financial gap often faced when moving from development to commercialization. It’s particularly focused on projects in medical biotechnology that need that extra push to reach the market.

The funding can be used to advance your product or technology toward Federal regulatory approval or to bring complex research tools into the marketplace. It's a chance to form partnerships with strategic investors or collaborators, making it easier for you to get the support you need during the transition phase.

Importantly, the conditions of the funding encourage securing independent third-party financing. This means you’re not just relying on one source and can build a stronger financial foundation for your project. Taking advantage of this program can help you achieve your commercialization goals more effectively.