A Potential Financing Source For The Upstart Technology Tycoon

Are you an emerging growth Technology Tycoon leading a fast growth firm and a powerful desire to get development funding for a unique technology?

Or maybe you're a wannabe tycoon upstart that's still in the planning stage of entrepreneurship. You think you have a great technology concept, but just need some start up financing to get rolling!

Well there's a not-so-well-known government program that might provide the start up financing you're seeking.

It's called the SBIR program.

SBIR = Small Business Innovative Research.

At least 11 federal government agencies participate in the program.

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And there's a sister program called STTR.

STTR = Small Business Technology Transfer.

Whereas SBIR facilitates the creation of technology by emerging growth technology firms on behalf of federal agencies, the STTR program facilitates the transfer of technology from non-profit research institutions to small technology businesses.

Both programs are administered by the U.S. Small Business Administration. And the SBA's mission is to help emerging tycoons take their rightful spot in Tycoon Paradise ... maybe someday displacing Bill Gates and Warren Buffett!

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The Criteria

• The eligibility to participate in the SBIR programs includes the following:
• Be an independent American-owned company
• Operate as a for-profit entity
• The primary researcher responsible for the technology development must be an employee of your firm
• You can't have more than 500 employees

STTR has very similar criteria.

How It Works

The SBIR program works in 3 phases.

• Phase I (Start Up). Your company can receive up to $100,000 for approximately 6 months support exploration of the technical merit or feasibility of an idea or technology.
• Phase II (Research and Development). Your company can receive up to $750,000, for as many as 2 years. This is when you'll conduct the detailed research and development work.
• Phase III (Commercialization). This is where the rubber really meets the road. It's time to market your technology and make some money!

Unfortuntaely, you'll not get SBIR funds in Phase III. But, on the upside, you can solicit private funds (e.g., angel financing, venture capital ... etc.) to make this phase successful.

The STTR program has similar phases.

So What's The Catch?

Catch you say?

Oh yea. Glad you asked.

It's quite simple really. You'll just have to compete with other hungreyTechnology Tycoons in order to win an award.

You see, participating federal government agencies (about 11 of them) periodically release solicitations for bids on technology projects that are important to them.

So you'll need to monitor these solicitations and decide which projects fit with your current technology or your change-the-world new concept.

Then you'll need to write a proposal explaning why you should get the deal ... and not some other upstart with a world-beating idea!

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But what the hell ... a little competition can only make you a better Technology Tycoon!

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Listen To My Interviews To Hear The Compelling Tales And Adventures Of Other Emerging Growth Technology Tycoons!