MoFAST: Moving Missouri's Innovations to Market
Did you know that our federal government is the largest single source
of early-stage technology financing in the United States? Each year
it provides thousands of research topics ranging from medicine, human
development, education, military applications, environment, agriculture
and transportation to solicit proposals from entrepreneurs, small technology
companies and research institutes for funding innovative ideas. It's
true!
Ten federal agencies provide funds to the Small Business Innovation
Research (SBIR) program with approximately $1.5 billion each year
available for early stage research and development (R&D) projects
at U.S. technology companies with 500 or fewer
employees. The purpose of the SBIR program is to harness the innovative
talents of small technology companies and entrepreneurs for the benefit
of the U.S. private sector and government markets.
As part of the SBIR program, each federal agency issues SBIR research
solicitations once or twice a year, describing its R&D needs and
inviting R&D proposals from small companies—firms organized
for profit with 500 or fewer employees. In addition to research solicitations,
several agencies will post new program announcements and requests for
proposals sometimes on a weekly basis throughout the year. To review
a complied list of agencies' announcements, register on the MoFAST web
site at www.mofast.net and follow
the link from the Gateway to Success page to the SBIR/STTR New
Program Announcements.
Many SBIR awards are made to small companies or entrepreneurs who
demonstrate in a competitive proposal process that they can perform
innovative R&D that serves the federal agency and that may have
important commercial applications. An SBIR award provides up to $850,000
in funding directly to small technology companies through a three-phase
process.
Phase I: Entrepreneurs or small companies apply first for a
six-month Phase I award up to $100,000 to test the scientific, technical
and commercial merit and feasibility of a particular innovation. An
entrepreneur can apply for a Phase I award without forming a company,
but she will need to form a legal entity prior to accepting a Phase
I award.
Phase II: If Phase I proves successful, the company may be
invited to apply for a two-year Phase II award of up to $750,000 to
further develop the innovation usually to the prototype stage.
Phase I and Phase II proposals are judged competitively on the basis
of scientific, technical and commercial merit. A pool of reviewers judging
the merits of the proposal can include technical scientists as well
as business people.
Phase III: Following the completion of Phase II, small companies
are expected to obtain funding from the private sector and/or non-SBIR
government sources to develop the innovation into a product for sale
in private sector and/or government markets.
A parallel program—the Small Business Technology Transfer
(STTR) program—provides up to $600,000 in R&D funding directly
to small companies working cooperatively with researchers at universities
and other research institutions. Selecting solicitation topics and submitting
proposals are very similar to the SBIR three-phase process.
For busy entrepreneurs and researchers, MoFAST has created a comprehensive
website to assist Missouri's companies in developing competitive proposals
to submit for SBIR/STTR funding opportunities. This website includes
detailed information on the different programs, agency links, new program
announcements, dates and assistance services.
To help Missouri innovators take advantage of these opportunities,
University of Missouri Extension Business Development Programs
and the Missouri Small Business Development Centers created the Missouri
Federal and State Technology Partnership program (MoFAST).
The goal of the MoFAST program is to help Missouri companies get SBIR/STTR
awards by providing assistance, mentoring and financial support. The
MoFAST staff can help you find
solicitation topic(s) for your innovation, assist in the development
of proposal(s) and submit competitive proposals to get SBIR/STTR awards
that will provide funding to commercialize your innovations. Seasoned
business specialists provide these services with specific expertise
in SBIR programs, business assistance and development, corporate management
and federal procurement procedures.
To learn more about how to access the MoFAST assistance centers, register
on the Gateway to Success at www.mofast.net.
Please share this site with anyone you think may find it of benefit.
This is a new site, and we appreciate feedback as to how we can make
it even more beneficial for the user.
Send this article to a friend
Authored by: John Parfet, Business and Industry
Specialist, University of Missouri Extension
Source: Creating Quality Newsletter, Volume
11, Number 11, November 2002
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