Do I have to be a South Carolina based organization? – YES. The intent of the program is to grow South Carolina companies and to stimulate job creation within the state. You can have operations in locals other than South Carolina, but the work for the grant must be substantially performed within the state.
- Is there a lot of work in preparing a grant application? – YES. The grant review process by the Small Business Innovation Research (SBIR) agencies is rigorous. Nationally less than 15% of Phase 1 Applications are funded annually. A large portion of these applications are rejected without review because they failed to conform with the established guidelines or demonstrated incomplete or sloppy work on the face of the application. In order to win a grant, you must present a compelling story supported by verifiable evidence that your innovation is worth investing in, much like a pitch to a Venture Capitalist. This requires an understanding of your innovation, where it fits in the market, who will buy it and why and proving that your team has the technical chops to solve the problem. Our process helps ensure that your application is comprehensive, complete and subject to a critical review prior to submission with the purpose of dramatically increasing the chance of success.
- Will 3Phase write my application for me? – No. We will assist you in the application process (including editing and supplementing content) but the development of content for the application is the responsibility of the company.
- What can I expect from 3Phase? Participation in the 3Phase program grants you access to a proven process, templates, direction, project management resources and mentorship from a team of individuals that has successfully built and exited companies using SBIR grants as the principle funding methodology.
- When will I know if I have been awarded an SBIR / STTR grant? – Generally, the SBIR Agency will provide notification of award or denial approximately four (4) to six (6) months after the submission deadline.
- When will I get the money? Generally, the SBIR Agency distributes the first payment to awardees approximately six (6) to eight (8) months after the submission deadline.
- Are matching funds available? – Yes – the South Carolina Research Alliance (SCRA) provides the opportunity to earn matching funds. Checkout the full details here.
- What happens if I do not receive the grant? The SBIR Agency provides feedback as to why the grant application was denied. 3Phase will evaluate the feedback jointly with you and assist you in determining if the issues cited by the reviewers can be addressed and an application can be resubmitted.**