Securing funding through the SBIR or STTR program can be a game-changer for small businesses looking to advance their innovative projects; however, the path to a successful SBIR/STTR application requires careful planning and a realistic understanding of the funding timeline from start to funding.
Preparation Period
The way you decide to allocate your time toward preparing your SBIR/STTR application depends on many factors: how many team members can assist, do you have a designated grant writer, what agency are you applying to, have you completed the general registration before, and more. Despite how you may answer these questions it is best to always give yourself ample time for this process. We recommend 8-12 weeks. This timeline may vary depending on how you choose to prepare and write your application. If you choose to do it 100% yourself you should plan on being on the farther end of the estimated time. If you choose to use TurboSBIR, our SBIR and STTR writing software you can save anywhere between 40% (using the DIY plan the offers custom workflows, samples and templates) to 70% (using the Unicorn plan which offers hands on SBIR/STTR writing support from start to submission alongside the workflows, samples, and templates)
Step 1: Identify Relevant Funding Opportunities (~1 Week)
The first step in preparing an SBIR/STTR application is to identify the relevant funding opportunities. This involves researching the agencies that offer SBIRs/STTRs and reviewing their solicitations to determine if your innovation aligns with their objectives. Take the time to explore different agencies and their specific research topics to find the most suitable fit for your innovation. The time you begin your application depends on the solicitation you are looking to apply for.
This process can be highly time consuming if you have never applied for an SBIR or STTR in the past. Each agency has their own topics, award amounts, application requirements, etc. A helpful tip is to consider using TurboSBIR. TurboSBIR has found a way to make this process simple and efficient for the inexperienced and experienced SBIR/STTR applicants. With the use of TurboSBIR’s innovative AI search tool you can discover funding opportunities for your specific innovation quickly and effectively.
To learn more schedule a free 30 minute call today!
Step 2: Project Set up, Registrations and Assemble Your Team (~2 weeks)
Once you have identified a funding opportunity that aligns with your project, it's crucial to thoroughly read and understand the application guidelines and requirements. Each agency may have specific guidelines regarding proposal length, formatting, and content, so be sure to study these requirements carefully to ensure compliance.
SBIR and STTR applications also come with a series of required registrations. Some of these registrations can take up to 6 weeks to acquire, which is why we consider this one of the first steps in your application process. These registration processes can also be very tedious. TurboSBIR offers SBIR and STTR expert support to ensure that all preliminary registrations have been completed for your chosen application. To learn more about the generally required registrations read more here: SBIR/STTR Application Requirements.
Building a formidable team is vital for a successful SBIR/STTR application. Identify the key individuals who will contribute to your project's success, such as researchers, engineers, and business development experts. Collaborating with individuals who possess the necessary expertise and experience can enhance your application's strength and credibility. A skilled and knowledgeable PI (Principal Investigator) is imperative for a successful SBIR or STTR application. For more information on the role of the PI visit Understanding the Role of a Principle Investigator. For STTRs specifically, collaboration with an accredited academic institution is required.
TurboSBIR has an educational resource available that breaks down who should be on your team, why, and how to use each team member most effectively on your application. For a solid foundation to build your team on visit How to Assemble a Strong SBIR/STTR Proposal Team.
Once you have identified a funding opportunity that aligns with your project, it's crucial to thoroughly read and understand the application guidelines and requirements. Each agency may have specific guidelines regarding proposal length, formatting, and content, so be sure to study these requirements carefully to ensure compliance.
Establishing a strong team can be a large task for many startups who are just entering the field of innovation and the SBIR/STTR application space. One tool that can streamline and simplify this process is TurboInnovate. TurboInnovate identifies the top experts in your field in innovation rapidly and effectively. You can connect with them in minutes via the information generated through the tool and jumpstart your perfect SBIR/STTR team.
There are many detailed requirements that vary from agency to agency. Many of which have some overlap, however. For a deeper dive on these SBIR/STTR requirements click here!
Step 3: Develop an Overall Project Plan (~1 Week)
With a clear understanding of the requirements, it's time to start developing your project plan. This includes outlining the research objectives, methodologies, expected outcomes, and a detailed timeline. Your project plan should demonstrate the technical feasibility and potential impact of your innovation, so take the time to carefully articulate these aspects in your proposal.
You can create your project plan based off the solicitation outline or you can use TurboSBIRs custom workflows. These workflows not only break each step of the application into easy-to-follow sections, but they also come with samples and templates that can further guide you through your project.
Step 4: Budgeting and Financial Planning (~1 Week)
The way you decide to allocate your time toward preparing your SBIR/STTR application depends on many factors: how many team members can assist, do you have a designated grant writer, what agency are you applying to, have you completed the general registration before, and more. Despite how you may answer these questions it is best to always give yourself ample time for this process. We recommend 8-12 weeks. This timeline may vary depending on how you choose to prepare and write your application. If you choose to do it 100% yourself you should plan on being on the farther end of the estimated time. If you choose to use TurboSBIR, our SBIR and STTR writing software you can save anywhere between 40% (using the DIY plan the offers custom workflows, samples and templates) to 70% (using the Unicorn plan which offers hands on SBIR/STTR writing support from start to submission alongside the workflows, samples, and templates)
This can be one of the more complicated portions of the application. Not all expenses can be added into the budget and almost all budgets must be made within or at the solicitation funding cap. It is imperative that you research the best way to create your budget since your funding amount will be based on this portion of your application (if you are chosen for funding). TurboSBIRs workflows come with budget template to help guide you through this process and ensure compliance. To learn more about the budget read more here: Understanding the SBIR/STTR Budget Proposal.
You can create your project plan based off the solicitation outline or you can use TurboSBIRs custom workflows. These workflows not only break each step of the application into easy-to-follow sections, but they also come with samples and templates that can further guide you through your project.
Step 5: Writing and Reviewing (~3-4 Weeks)
Once you have gathered all the necessary components, it is time to start writing your application. Utilize a clear and concise writing style while effectively addressing all the required sections, including the problem statement, approach, commercialization plan, and anticipated outcomes. This can be particularly challenging especially if the writer has never completed an SBIR/STTR application before. This is a large reason many organizations look to hire a grant writer who has written successful SBIR/STTR applications before. TurboSBIR offers grant writers as one of our many support options. These SBIR/STTR experts can offer support starting from foundational help in crafting structure and positioning to fully curating your grant proposal. If the cost is of concern TurboSBIR also offers a fully DIY writing option. This would be the time where you would utilize TurboSBIRs samples and templates. These support documents offer a better understanding of what your chosen agency wants in regard to writing style, format, and detail. Additionally, TurboSBIR has developed an AI writing tool we call Vestra. This tool requires only 2-3 sentences that explain your project to generate relevant articles and content in your field that you can use to aid your DIY grant writing process.
Another tool you may find useful during this process is TurboInnovate. TurboInnovate can be used to identify past successful applications to your chosen agency and in your field of innovation. These proposals can provide critical insights into what your chosen agency is looking for and how to best pitch your own proposal.
It is also essential that you make sure to leave ample time for thorough review and editing to ensure clarity, coherence, and error-free content. A compliance check is also essential to your review process since most grants are denied due to compliance errors. Give yourself plenty of time to read your completed application with a fine-toothed comb.
Step 6: Submission and Follow-up
As the submission deadline approaches, carefully review all components of your application to ensure accuracy and completeness. Submit your application before the designated deadline and make note of any confirmation emails or receipts to ensure proper documentation. After the submission, you may want to contact the agency to confirm receipt and ask about the review timeline. It only benefits you and your application to follow up with the agency.
Review Period
After submitting your SBIR/STTR application, the next crucial stage in the process is the application review period. During this time, your proposal will undergo a thorough evaluation to determine its technical merit, commercial potential, and alignment with the agency's objectives. This process takes anywhere between 1-3 months total after the application close date.
Stage 1: Initial Administrative Review
Once the submission deadline has passed, the agency will begin the review process by conducting an initial administrative review. This stage ensures that your application meets all the basic requirements, such as proper formatting, adherence to page limits, and inclusion of all necessary documents. This is the stage where most applications are denied. It is often the simplest but biggest mistake an applicant can make.
Stage 2: Technical Evaluation
Following the administrative review, your proposal will undergo a comprehensive technical evaluation by experts in the field. This evaluation typically involves a panel or a group of reviewers who possess the relevant expertise to assess the scientific and technical aspects of your project. They will evaluate the feasibility, innovativeness, and potential impact of your proposed solution.
Stage 3: Peer Review
Many SBIR/STTR programs include a peer review component, but it is important to keep in mind that there are always exceptions (e.g., DoD). This involves external experts in the field providing independent assessments of your proposal. Peer reviewers will provide valuable feedback on the scientific and technical aspects of your project, helping to identify strengths and weaknesses and providing recommendations for improvement.
Stage 4: Funding Decision
After the reviewer discussion, the funding agency will decide whether to award funding to your project. This decision is based on multiple factors, including the rankings and assessments provided by the reviewers. The agency will consider the technical merit of your proposal, its alignment with the agency's goals, and the availability of funds. The funding decision is typically communicated to applicants through award notifications.
Some agencies include a “Selected but Not Funded” option (e.g. AFWERX). This means that the agency found your proposal acceptable; however, due to the availability of funds, they were unable to offer funding. To learn more about the “Selected but Not Funded” meaning and process access our playbook here: AFWERX Selected but Not Funded.
Stage 5: Post-Review Feedback
Following the funding decision, many agencies provide post-review feedback to unsuccessful applicants. This feedback typically includes the strengths and weaknesses of your proposal, providing valuable insights into future applications. Pay close attention to this feedback, as it can help you refine and improve your proposal for future funding opportunities. In our experience, almost half, if not more, SBIR winners win on their second or third attempts.
The duration of the SBIR application review process can vary from agency to agency. Typically, it takes several months from the submission deadline to the funding decision, with additional time allocated for applicant notification and initiation of awarded projects. It's essential to be patient throughout this period and take advantage of any feedback or guidance provided by the agency to enhance your future applications.
Funding Period
Congratulations! Your SBIR or STTR proposal has been selected for funding. This is an exciting achievement that opens up a world of opportunities for your innovative project; however, securing funding is just the beginning of the journey. Depending on whether you are awarded a grant or contract, the funding process varies. For contracts there are agreed upon milestones and deliverables. Funding will be provided per deliverable/milestone. For grant funding there are no required milestones that must first be met. Funding is instead distributed over the communicated funding period: Phase Is are often 3-6 months and Phase IIs are generally 12 months.
Step 1: Award Acceptance
Once your application has been selected to be funded you will formally accept the award. This may require signing and returning required agreements and related documents, including a formal acceptance, depending on the specific process of the funding agency.
Step 2: Project Kickoff and Planning
With the award accepted, it is time to kick off your SBIR-funded project. Review and revisit your project plan outlined in the proposal, making any necessary adjustments based on the feedback and guidance received during the application process. Develop a detailed project schedule, outlining key tasks, milestones, and deadlines. Consider engaging your team, stakeholders, and any collaborators to ensure everyone is aligned and aware of their roles and responsibilities.
Step 3: Leveraging Agency Resources and Support
Throughout executing your SBIR/STTR-funded project, take advantage of the funding agency's resources and support. Stay informed about any workshops, training programs, or networking opportunities that may be available to you. Engage with agency program managers and seek their guidance and advice when needed. The agency is invested in your success and can provide valuable insights and connections to help advance your project and enhance its commercialization potential.
Step 4: Commercialization Planning and Strategy
While executing your project, it is important to concurrently focus on commercialization planning and strategy. Seek opportunities to engage potential partners, investors, or customers who can benefit from your innovation. Conduct market research to validate your solution and identify potential markets or applications. Explore options for intellectual property protection and consider seeking additional funding or investment to support commercialization efforts beyond the scope of the SBIR award. An invaluable resource to streamline this process is TurboInnovate. TurboInnovate can generate a comprehensive market research report in minutes at a fraction of the cost of our competitors. You will be able to access and review all IPs, funding trends for your specific innovation, competitors, discover potential leads, find potential investors, and more. To learn more about how exactly TurboInnovate can assist you read more here: TurboInnovate Track & Predict the Future of Innovation.
Step 5: Project Completion and Beyond
As you complete your SBIR-funded project, ensure that all deliverables and reporting requirements are met. Use this opportunity to reflect on your achievements, lessons learned, and next steps. Assess the impact of your project and the potential for further development or expansion. Keep in mind, you are not limited to one SBIR/STTR award. If you are interested in applying for additional SBIRs/STTRs you can learn more about this process here: Applying to Multiple SBIR/STTRs.
Remember, the funding you have received is not just a financial boost but also an endorsement of the value and potential of your innovation. If you were awarded a Phase I SBIR or STTR consider applying for a Phase II. Embrace the journey, seize the opportunities, and stay connected with the SBIR/STTR agency. Leverage the experience gained and the network established during the funding process to propel your small business to greater heights of success.
Preparing a SBIR/STTR grant application requires careful planning, attention to detail, and awareness of the time the full process may take. The SBIR/STTR program provides an excellent opportunity for small businesses to transform their groundbreaking ideas into tangible results. Securing funding is a significant achievement, but it is your dedication, perseverance, and commitment to excellence that will determine the ultimate success of your innovation.
