Stacy Chin breaks down SBIR funding timelines: start Phase I applications three months before the deadline, Phase II proposals need five to six months, and decisions take four to six months after submission. Don't pursue SBIR if you need money fast.
If you see my other videos, you would know that I usually advise startups to start at least 3 months before the deadline to prepare a Phase I application, and even up to 5 to 6 months if you're preparing a Phase II. Once you submit your application, it can take anywhere from 4 to 6 months to even just hear back whether or not they want to fund your application. So if your startup needs funding to meet a deadline or to seize an opportunity, then SBIR funding is not the best option for you. In this case, you might want to consider other options that can provide you funding in a shorter amount of time.
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