The NIH allocates $1.2 billion annually to fund biomedical tech through SBIR and STTR programs. Stacy Chin explains why these initiatives are critical for getting new healthcare innovations from the lab to market.
In fact, the US government budgets about $1.2 billion each year just for the National Institute of Health, or NIH, to support R&D efforts to bring new biomedical technologies towards commercialization. And because of that, the NIH SBIR and STTR programs are so critical to advance biomedical technologies in healthcare and medicine for 4 reasons.
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