STTR is a highly competitive program that reserves a percentage of federal R&D funding for awards to small businesses and Unites States nonprofit research institutions. Small business has long been where innovation and innovators thrive. But the risk and expense of conducting R&D can be beyond the means of many small businesses. Conversely, nonprofit research laboratories are instrumental in developing high-tech innovations. But frequently, innovation advances theory, rather than the development of innovative practical applications. STTR combines the strengths of both entities by introducing entrepreneurial skills to high-tech research efforts. The technologies and products are transferred from the laboratory to the marketplace. The small business profits from the commercialization, which, in turn, stimulates the U.S. economy.
How Do I Start Writing A Grant Application?adia2019-11-07T17:57:12+00:00
Proposal writing is time-consuming. You must first clearly describe a specific problem found in your community or area of interest, design a program that will address it, and then describe the program in detail for the grant maker (funding source). If this is your organization’s first attempt at applying for a grant, the entire process will benefit your organization. Your goal is to end up with a well-conceived proposal that lays out a strategy to address the problem, as well as the funding to pay for it.
How Should My Organization Manage Our Grant?adia2019-11-07T17:28:47+00:00
Once your organization is awarded a grant it is time to set up a management system to avoid slip-ups along the way. Highlighted below are a few important steps to follow.
Initial Paperwork – Upon being awarded your grant there are a number of documents that will need to be filed, signed and sent back to applicable parties. Be sure to return paperwork by deadlines specified in order to start off strong with your new funding.
Financial House in Order – Establishing good accounting systems for the management of your grant money is an essential part of grant management.
Review Grant Proposal – It is typical for three to nine months to pass between sending in a proposal and receiving the award. Organizations should take an in-depth look at the specifics of the original proposal of what funds should be put toward and goals that need to be met.
Understand Rules and Regulations – When receiving a grant from a federal agency it is imperative to make sure those in charge of managing the grant are aware of regulations surrounding the funding.
Schedule Reports – Depending on the specifics of the grant periodic reporting may or may not be required. However is it good business practice to have reporting system in place to keep your organization on track to leverage funding well.
Are Grants Easy To Get?adia2019-11-07T17:03:12+00:00
Government grants aren’t just handed out left and right, they have to be applied for. Applying for a grant can be a competitive process. Paperwork can be overwhelming, applicants must adequately describe how awarded funds will be used to the benefit to the public. Crafting a proposal is a challenging but often rewarding process, don’t forget there are a number of resources to help your organization out along the road to securing a grant.
Here at Egeria we are here to help get you connected with the grants that match what your organization is about.
Who Is Eligible For Federal Grants?adia2019-11-06T18:14:57+00:00
The Small Business Technology Transfer is a program that expands funding opportunities in the federal innovation research and development arena. Central to the program is expansion of the public/private sector partnership to include the joint venture opportunities for small businesses and nonprofit research institutions. STTR’s most important role is to bridge the gap between performance of basic science and commercialization of resulting innovations.
Are Grants Considered Federal Financial Assistance?adia2019-11-06T18:01:46+00:00
An extension or renewal of existing program funding for one or more additional budget period(s) that would otherwise expire. Continuation grants are typically available to existing recipients of discretionary, multi-year projects; however, new applicants may be considered.
Receipt of a continuation grant is usually based on availability of funds, project performance, and compliance with progress and financial reporting requirements. Applications for continuation may compete with other continuation requests submitted to the awarding agency.
What Is a Discretionary Grant?adia2019-11-06T17:58:16+00:00
A “discretionary” grant is a grant in which a federal agency selects the awardee (i.e., grant recipient) based on merit and eligibility. After you apply for a discretionary grant, the applications are sent to the federal agency for a competitive review process and final funding decision.
Can I pay for grant writing services out of the awarded grant?Sedale Turbovsky2019-11-03T06:07:14+00:00
A grant is an award, usually financial, given by one entity (typically a company, foundation, or government) to another, often an individual or a company, to facilitate a goal or incentivize performance. Grants are essentially gifts that do not have to be paid back, under most conditions. These can include education loans, research money, and stock options. -Investopedia