S-B-I-R What?

In simple terms, a government agency submits a request for technology it needs, and small business rise to the challenge.

 

The Small Business Innovation Research and Small Business Technology Transfer programs congressionally require eligible governmental agencies to set aside a percentage of their extramural budgets toward startups in the creation of innovative, disruptive technologies, getting discoveries out of the lab and into the market. Different from other investment opportunities, the SBIR and STTR programs fund early stage research and development and are designed to provide equity-free funding. These investments build a strong national economy by stimulating technological innovation in the private sector; strengthening the role of small business in meeting federal research and development needs; and increasing the commercial application of federally supported research results.