National Institute of Health (NIH) SBIR/STTR Phase I & II Budget Limits: Maximize Your 2024 Funding!
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- เผยแพร่เมื่อ 23 ม.ค. 2024
- In today's video, we will discuss the critical topic of NIH SBIR Phase I & II Budget Limits for 2024! This will be a comprehensive guide on planning an effective budget, understanding the nuances of NIH funding, and strategies to maximize success in securing non-dilutive funding. We will discuss the importance of direct costs, indirect costs, and the Small Business Fee in budget planning, breaking down each category for easy understanding along with practical examples and mathematical breakdowns to simplify the complex process of budget creation. Finally, we will share what are the maximum budget limits for NIH SBIR Phase I, II, and Fast Track applications for 2024. This resource is invaluable for startups looking to navigate federal grant and contract opportunities, and it's packed with tips and templates available on KeepYourEquity.co to assist in preparing successful NIH SBIR grant applications!
KeepYourEquity.co’s mission is to support scientists, engineers, and clinicians in their start-up journeys by helping Founders secure SBIR/STTR grants. The goal of this TH-cam channel is to educate Founders on how to raise non-dilutive federal funding to get the resources they need to commercialize innovative ideas to solve today’s biggest global problems. To date, we’ve helped to raise over $12.5 M of SBIR/STTR funding across start-ups across medicine, engineering, environment, energy, military, and much more!
Resources
- Learn about the SBIR/STTR program: • SBIR/STTR Grant Fundin...
- NIH SBIR/STTR 2024 budget limits: seed.nih.gov/small-business-f...
- NSF SBIR/STTR 2024 budget limits: • National Science Found...
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About Stacy Chin, Ph.D.
Stacy combines her entrepreneurial spirit and passion for research to help start-ups commercialize their innovations. With 10+ years of grant writing experience, she has secured over $12.5 M in SBIR/STTR grant funding for clients spanning from a wide variety of sectors. She's consulted start-ups spun out by Founders, professors, medical doctors, start-up executives and collaborators from MIT, Mass General Hospital, Columbia Univ., Univ. of Co3lorado, UCLA, Brown Univ., Boston Univ., New York Univ., Univ. of Texas, UCSD, and more. Stacy is a TechStars SBIR/STTR mentor, a highly competitive and nationally reputable tech start-up accelerator. She previously served as an NIH and NSF SBIR reviewer and study section co-chair. Stacy received her PhD in chemistry, holds multiple patents and authored multiple academic research articles. She also brings 8+ years of experience as a start-up founder and was been recognized for her entrepreneurial achievements through a number of awards.
Read about her entrepreneurial journey in Train Like a Scientist, Think Like an Entrepreneur: tinyurl.com/frunjcfe
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Very Informative
Can a PI and/or a Business partner(s) forgo receiving any salary, as a way to invest more in R&D, equipment, travel, IP protection?! To some, not taking a salary id look unfavorably (applicant not knowing what he/she is doing). Any advice on that?
The PI at least is required to have a salary but you can make it small if you'd like to reinvest back into R&D. hope that helps!
There is another rationale PI must be properly salaried. Because with no salary or below average compensations, most people will question the commitment level of the PI in your project.
@@keepyourequityco Thank you for your insight and quick response.
@@sorcererstone3303 Thank you as well for your opinion. In my case, the PI is the Owner of the Company submitting the proposal (bidding process). Deciding the best option is not obvious. Perhaps a lower salary during phase II, rather than phase I, could be justified under certain conditions: Scaling up efforts (establishing a predictive model, away from a qualitative one) can be unexpectedly long.
Great insights!@@sorcererstone3303