Every fledgling company has one thing in common no matter what industry they’re in: they are looking for funding. Sirit is committed to help find funds for technology companies in Eastern Washington in many ways, but especially through federal government programs targeting technology.
Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) are two types of grants that are annually awarded to qualifying businesses. These grants are designed to provide a path for technology advancements to leave the lab and enter the marketplace via a small business. These programs target the small business technology entrepreneurial sector because that is where most innovation thrives.
The programs are overseen by the Small Business Administration (SBA). Eleven federal agencies now set aside a small percentage of their R&D budgets, including the Department of Agriculture, the Department of Commerce, the Department of Defense, the Department of Education, the Department of Energy, the Department of Health and Human Services, the Department of Homeland Security, the Department of Transportation, the Environmental Protection Agency, the National Aeronautics and Space Administration, and the National Science Foundation. Annually, the grants now amount to $1.5 billion.
The Office of Advocacy of the SBA published The Small Business Economy; a federal government report outlining the state of small business and the role small business plays in the economy. Among the report’s highlights was the finding that some of America’s best-known companies are university spin-offs.
Sirti aids in this process via its proven client services innovation continuum process and grants and contracts expertise. We sponsor workshops, presentations and work one-on-one with companies seeking SBIR/STTR funding. In addition, SIRTI belongs to the WaFAST coalition, a collaboration of eight Washington state institutions that provide training and coaching to small businesses to obtain the grants.
Several Sirti clients and alumni have received SBIR awards over the past 10 years. Multiple winners include Airway Heights’ New Light Industries and Richland’s InnovaTek. Other Sirti alumni receiving the awards have been BioOriGyn and Quantum Northwest. Current Sirti incubator clients, MatriCal and Aegis Biosciences, have received awards.
