The National Institutes of Health offers two funding sources for innovative biotechnology companies: the Small Business Innovation Research (SBIR) Program and the Small Business Technology Transfer (STTR) Program. Together these programs award more than $2 billion in funding each year. They have been critical sources of research dollars for numerous biotech companies over the years. However, the application process for SBIR and STTR awards is lengthy, complex, highly competitive and sometimes extremely cumbersome. I recently moderated a panel discussion sponsored by the Hudson Valley (NY) Economic Development Corporation that addressed a number of key issues on obtaining NIH funding. I, along with many GEN site visitors, would be interested in reading responses to two of the questions brought up at the seminar:
For those of you who have received funding via these grants, or are in the process of applying: 1) What have been your biggest obstacles/challenges during the application process for NIH funding?; and 2) If you knew what you know today about securing NIH grants, what would be your most important advice to those just starting out?