Leveraging Small Business to Bring Life-Saving Innovations to the Market.
A key part of the National Institutes of Health (NIH) and the National Science Foundation (NSF)’s mission is the translation of basic discoveries into innovative technologies that improve human health, and the NIH and NSF Small Business Innovation Research and Small Business Technology Transfer (SBIR/STTR) programs strive to do just that.
NIH is the premier biomedical research funding organization in the world, and has a 2014 SBIR/STTR budget of approximately $750 million dedicated solely to funding small businesses in the life science sector. NSF also funds companies in the life science sector, as well as other transformative high-risk/high-reward technologies in a range of areas that have the potential for significant societal or commercial impacts. Together, the NIH SBIR and STTR and NSF SBIR and STTR programs have combined annual budgets of nearly $1 billion.
The U.S.-owned and operated firms that receive NIH and NSF SBIR/STTR dollars bring innovative solutions to the health markets and into the hands of patients and caregivers alike through a range of drug, device, diagnostic or behavioral interventions that save and improve lives.
A cornerstone of the SBIR/STTR programs to help companies move along the path of commercialization, with an emphasis on reducing technology risk and increasing the value proposition. Funded SBIR/STTR companies successfully leverage this federal non-dilutive initial investment by attracting private investors, establishing strategic partnerships and becoming profitable from first customer sales all the way to successful exits like mergers and acquisitions.
As such, NIH and NSF have formed a new partnership with BIO, where nearly 50 of the most promising SBIR/STTR grantees will showcase and discuss their technologies in the exciting Innovation Zone, a premier partnering opportunity, at the BIO International Convention on June 23-26, 2014, in San Diego, Calif.
Featured companies will have the opportunity to tell their stories and have access to business development executives and investors from around the globe. Innovation Zone exhibitors will also have access to the BIO One-on-One Partnering™ System, an online tool that allows companies to schedule private meetings with potential partners or investors.
For more information about NIH’s SBIR and STTR programs, attend the session “The Small Business Innovation Research (SBIR) Program: New Funding Opportunities and Key Agency Innovations session,” featuring NIH’s SBIR/STTR Assistant Program Manager, Lenka Fedorkova, PhD. , or stop by the NIH booth to chat with several institute program managers on site. Dr. Fedorkova, leading the Innovation Zone effort for NIH, will discuss the recent advances and policy changes to NIH’s SBIR and STTR programs and how this seed funding can help your small business along the path of commercialization!
To learn more about NSF’s SBIR/STTR programs, stop by the NSF booth to talk with program staff, including Jesus Soriano, MD, PhD, MBA, program director for biomedical technologies and NSF lead for the Innovation Zone.
For details and a list of companies exhibiting, please visit http://convention.bio.org/innovationzone/.