Billy Boyle Blog

Here are the key features highlighted in David Connells report “Secrets” of the World’s Largest Seed Capital Fund

1. Regular solicitations at fixed dates during the year;
   
2. Awards directed at the best submissions from across the US; no state or regional quotas;
   
3. Complete transparency in terms of topics, awards winners and amounts;
   
4. Standard contracts; companies own the intellectual property developed;
   
5. Clear linkage to agency R&D interests and priorities; strong focus on commercialisation;
   
6. Companies do not have to be established until awards have been won;
   
7. 100% funding of all contract costs plus a profit element;
   
8. Flexible mechanisms to encourage involvement of academics and support academic spin-outs and technology transfer;
   
9. Phased awards to manage risk, typically with $100k for a Phase I feasibility study and 50% of Phase I award winners going on to win a $750k Phase II development award;
   
10. Phase III SBIR awards funded from mainstream (i.e. non SBIR budgets), and adding probably as much again to overall federal R&D expenditure on SBIR projects;
    
11. Phase III projects bring businesses the opportunity to win valuable sole supplier contracts with federal agencies;
    
12. Prime contractors are encouraged to take up SBIR developed products.