Stacy L ChinFounder, KeepYourEquity · I get the government to write you checks

Are SBIR Grants Falling Short: Discover What You Need to Do When the Funding Falls Short!

26 May 2023 · 1 min

Watch on YouTube

0:39

In this segment, Stacy Chin advises startups that SBIR Phase II budgets are often insufficient to bring a product to market, so they must clearly articulate additional financing needs. She recommends describing concrete plans to raise extra capital—such as engaging angel investors, venture capitalists, or industry partners—and suggests creating a Gantt chart that maps short‑ and long‑term fundraising milestones alongside SBIR activities to demonstrate a realistic path to commercialization and revenue generation.

Chapters

In the startup world, you'll likely need more money than the allocated SBIR budget limits in order to successfully bring your product to the commercial market. So in this section, you'll want to explain the necessary financing that you require to commercialize your innovation. To do so, you'll want to describe your plan to raise additional funding so that you can prepare to launch your product and begin generating revenue. So for example, you can mention whether you have started talking to angel investors or venture capitalists or industry partnerships might be interested in investing in your startup upon completion of your Phase II efforts. Here, I encourage startups to prepare a Gantt chart of their short and long-term financing and fundraising goals in relation to their SBIR efforts.