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

Boost Credibility with Detailed Budget

2 Jan 2025 · 0 min

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0:22

In this instructional segment, Stacy Chin advises startup founders applying for SBIR grants on two key credibility‑building tactics. First, she explains that including solicitation or customer letters in the application demonstrates real‑world demand for the innovation, helping the proposal stand out. Second, she stresses the importance of a detailed budget that breaks down direct costs, indirect costs, and the small‑business fee, showing reviewers that the team has a solid financial plan for executing the project.

For founders, these letters can demonstrate credibility that your innovation has real-world demand, which can make your SBIR application stand out. 10. Prepare a detailed budget. A budget isn't just about your numbers, but rather it's a reflection of how you plan your project out. Breaking down the direct costs, the indirect costs, and the small business fee shows reviewers that you understand the financial side of executing a successful project.