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As mentioned in a previous post, the U.S. Department of Defense Small Business Innovation Research program remains a less known option for funding your business application.

As successful applicant Warren Katz explains:

Under the program, companies can apply for a Phase I award of up to $100,000 to test the scientific, technical, and commercial merit and feasibility of a concept. DoD issues three SBIR solicitations a year for Phase I proposals on various research topics. If Phase I proves successful, the company may be invited to apply for a two-year Phase II award of up to $750,000 to further develop the concept, usually to the prototype stage. More than 40 percent of Phase I projects subsequently are awarded Phase II contracts.

But how does it work?

In a short audio interview for the Kauffman Foundation, another successful applicant suman Saripalli spells out more details.

Join us for our ongoing look at the Kauffman Foundation bootstrapping series next post...

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