Together, we take the first step: Evaluation
If you’re new to the start-up world, welcome. Wisconsin is a great place to start a technology-based business, and the Center for Technology Commercialization (CTC) is a great place to start. Our consultants serve as your guides through this complex landscape, and work alongside you, augmenting your team at that earliest time when resources are scarce. The Center for Technology Commercialization is one that has a very specific and simple mission: to guide you through the funding process and organizational development for your new business.
Funding Your Technology Business
Of course, funding is an initial, primary challenge for many small businesses. That's why the CTC has in-house experts in federal Small Business Innovation Research/Small Business Technology Transfer programs. SBIR/STTR funding plays a critical role in fostering innovation in the United States. By assisting small businesses, like yours, with significant non-dilutive, early funding to advance your technology through the R&D phase, you will have aquired credibility amongst your peers competing for this same source of funding without giving up equity in your firm to advance your research. In securing federal SBIR/STTR funds, we are creating competitive advantage for Wisconsin companies on the national and even global scene.
Demonstrating Technical and Business Feasibility
This being said, our first step in our process is to evaluate where you are right now and to make sure you meet the initial requirements for SBIR/STTR funding. Check out the following list to see if you meet the required scenario. If you do, you're ready to for the next step, contacting us with a formal request for a meeting, when we'll finish the initial evaluation and help you plan your next step.
Your first step in developing a funding strategy that relies on SBIR/STTR funding is to make sure you meet the requirements.
Funding to De-Risk Your Business: Eligibility
Here are the top-level requirements:
- Aimed at small businesses of no more than 500 employees
- American-owned and independently operated
- The principal researcher must be employed at least in part by the business at the time of the award
Get organized for your meeting request
Next, to help us understand your innovation, it’s helpful to have a summary description (Executive Summary) prepared. Don’t worry if you don’t have a business plan, we help with those too. In fact, many of our clients come to us with just a small amount of preliminary data or just an idea and a vision. This is fine since SBIR/STTR funding helps you advance to the proof of concept stage.
Creating a summary description will help us get our bearings as we start the process. In your summary, please answer the following questions:
- How would you describe your idea or innovation and the customer/market need it addresses?
- What industry are you in? (for example: energy, biomedical, information technology)
- Who are your potential customers?
- How far are you in the discovery/development process?
- Have you filed a patent or made a disclosure?
- What is your background and who is on your team?
Ask questions & learn more
We recognize that many innovations are complex and each company's situation is unique, so please ask questions. Do you have a quick question about our assistance or SBIR/STTR funding? Our Consultants are here to help.
Or, if you're ready to discuss our services in detail, go straight to our Electronic Request for Assistance form, which we'll need to begin the intake process. Remember, our evaluative and planning services are complimentary, so take advantage of this great Wisconsin resource.
Want to learn more about our next step for startups? Find out more about our planning/funding strategy services.