Stacy Chin breaks down the four NIH SBIR/STTR funding pathways: Phase I, Phase II, Direct-to-Phase II, and Fast-Track. Each has different competitive dynamics, so choosing the right one for your development stage matters when applying for non-dilutive funding.
If you want to pursue an NIH SBIR or STTR application, there are 4 options for you to consider: a Phase I, a Phase II, a Direct-to-Phase II, or a Fast-Track application. Here's what you need to know so that you pick the best option. And the answer at its core just comes down to where you currently are in your developments, along with what are your short and long-term goals for your startup. Many times founders have asked me, is there one that's less competitive than the other? And unfortunately, my response is no. Each NIH SBIR or CTR application is just as competitive as the other, each for their own unique reasons. However, it's important for you to pick the right opportunity so that you can prepare a really strong grant application to increase your chances of award. Check out the long-form video on my YouTube channel to learn more. Check out our website at keepyourequity.co so you'll have more advice, templates, and resources to help you secure non-dilutive funding for your fundraising journey.
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