America’s Seed Fund is an award-based program which provides funding to startups for Research and Development projects with commercialization potential. This program exists across the United States, with multiple awarding agencies offering funding. The US National Science Foundation (NSF) is one such agency which provides funding for scientific and engineering innovations. They award $200 million each year to US startups for Research and Development through the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs.
SBIR is available to US small businesses with under 500 employees who are engaging in research and development activities. In contrast, STTR is only available to US small businesses that are conducting R&D in collaboration with a non-profit research institution partner. The SBIR/STTR application has three main stages, beginning with a project pitch, advancing to a full project proposal, and finally receiving a full review and decision regarding funding. If successful, funding is offered in two stages. Phase I Funding is for concept development, with a project timeline of 6 months to 1 year. Funding for Phase I ranges from $50,000 to $250,000. Phase II funding is for prototype development and involves a project timeline of 24 months. The funding for this phase is $500,000 to $1.5 million.
In this article, we highlight two successful recipients for Phase I funding for digital technology innovations. This includes research areas of Software as a Service (SAAS), Augmented Reality (AR), Artificial Intelligence (AI), Internet of Things (IoT), and more.
CANETIA ANALYTICS, INC.
Funding Received: $255,999
Canetia Analytics received funding for the development of a technology which can detect structural anomalies in buildings through the application of IoT and AI. This technology will allow for cost effective risk assessment and building management. This innovation fills a gap in the market left by the uneconomical reality of current risk assessment methods for smaller structures. By developing this product, dramatic human, environmental, and economic losses can be avoided. By demonstrating a novel use of technology which can benefit the economy and society, Canetia Analytics was awarded SBIR Phase 1 funding.
Gyropalm LLC
Funding Received: $256,000
Gyropalm was awarded STTR Phase 1 funding for their research into Augmented Reality (AR). The targeted outcome of this AR project would enable skilled employees to work from home while remaining physically connected through a wearable wrist and AR glasses set. This innovation allows for the decrease of human error and increase fulfillment ability across a variety of industries including manufacturing, training, and emergency simulations. Gyropalm’s demonstration of the widespread applications of this project and potential for future growth was successful in attaining STTR funding.
Deadline
The NSF accepts project pitches on a year-round basis. Need help defining your pitch?
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