You’ll ought to practice again, but this time round could be a good deal less difficult: your Phase I award have to include a timeline for your Phase II utility, commonly between 8 and 20 months later. Phase II awards are given primarily based at the effects of your Phase I tests and studies and are meant to fund the creation of an real, practicable prototype. SBIR Funding In other phrases, Phase II is while you flow from idea to product.
This level of the program remaining for around years and you may get over $1 million in federal investment. The average financing is more or less $920,000 normal, but it relies upon for your concept as well as your federal business enterprise.
The Navy, for example, gives Phase II SBIR program awardees everywhere among $500,000 and $1,500,000, in addition to the chance to secure a second Phase II spherical of funding in case you nonetheless need extra cash and finances. On the alternative hand, the National Science Foundation offers Phase II winners as much as $750,000.
This is the authentic call for whilst you renew your Phase II utility for some other round of funding—like what the Navy offers. Other federal businesses provide this possibility, too—like the Department of Health & Human Services—for research and development proposals that need a particularly lengthy quantity of time and huge amount of money to get from idea to prototype.
One not unusual purpose for a Phase IIB renewal is the need for approval from a distinct authorities corporation, just like the FDA, to continue with studies. If you suspect your product might want that greater time and financing, make certain to speak together with your agency’s SBIR application representatives well in advance.