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Thursday, January 8, 2015

Tech Companies Have An Advantage When It Comes To Grants

Tech Companies Have An Advantage When It Comes To Grants
Grants represent free money that doesn't have to be repaid. Finding a grant is another matter, especially when it comes to government grants. However, companies doing research and development in high technology fields will find more grants than most small businesses.

The difference with high technology

Although government grants are few and far between, grants are available from both state and federal government for those businesses involved in technology, and research and development. Here are two huge grants available for these types of businesses.

Small Business Innovation Research - The SBIR program provides funding to small, high-tech businesses doing research, design, develop, and testing of new technologies. Their work must be related to needs identified by the government, such as national defense, education, and renewable energy.

Small Business Technology Transfer - The STTR program funds projects for small businesses who partner with educational institutions and research institutes on projects identified by the government that will benefit both the private sector and the military.

Eligibility

Eligible small business owners must be for-profit, U.S.-based businesses with 500 or fewer employees. They must be independently owned and operated by at least 50 percent U.S. citizens or legal residents.

Small business owners may check the government web site at any time for grants as these grants are posted throughout the year as the need arises.

For more information on either of these two programs, visit www.sbir.gov/applicants
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