Updated SBIR Grants May Already Need A Fix To Keep Up With The Times

Just as the Small Business Innovation Research program achieved a congressional fix for the knotty problem of letting companies with VC support apply for the “valley of death” grants, it may have fallen behind again with its de facto exclusion of virtual start-ups. Companies have until July 16 to comment on the program’s updated implementing regulation.

Start-ups with venture capital support will at last be eligible for Small Business Innovation Research funding when provisions of the program’s reauthorization take effect in 2013, but the program’s requirement that a considerable portion of the award be used for work in-house by grantees may create a new class of outcast companies: the growing number of virtual biotechs.

The program grants Phase I awardees $150,000 over six months to establish the commercial feasibility of a project. For Phase...

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