We have another #SBIRPhaseI round coming at us just around the corner, so I wanted to break down a few key reasons we really like to see this type of funding as an "on-ramp" to bigger DoD dollars:
At Long Capture, we see three main advantages to the SBIR/STTR programs:
1) Non-Dilutive Capital.
Unlike many commercial means of funding, with an SBIR grant, you do not give up equity in your company. What the government gets in return from the R&D effort is a product that benefits the warfighter.
2) Dual-Use Commercialization.
With a solution that benefits and is sold to the government as well as the commercial industry, you can dip into two markets simultaneously, helping to de-risk the solution for government stakeholders while still allowing your company to scale your technology much faster.
3) Sole-Source Eligibility.
The biggest prize from a Phase I win is sole-source eligibility. This system allows companies to bypass some of the tedious processes for doing business with the government and provides the opportunity to shorten acquisitions timelines from years to months or, in some cases, even weeks, compared to the traditional competitive process.
If you're interested in learning more about this upcoming round, or what it takes to get your foot in the door of federal funding in general, feel free to reach out!
Transforming Government R&D + Innovation.
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