Winning your SBIR award is the first step, Now you need to stay compliant.

Uncategorized, SBIR Grants Management

Here are a few things you need to put in place: An accounting system that separates cost types (direct, indirect and unallowable) and grants from other projects Financial policies and procedures – internal controls (travel, employee policies) Timekeeping system –...

After the Award: Organize or Die

SBIR Grants Management, SBIR/STTR Budgets

Why your new company needs a strong backbone. In a strong organization, “responsibility” is not meant to be a way to point fingers. Instead, it is used to identify areas that need improvement. That’s the secret to a company’s future — organization that leads to...

After the Award #4 : Avoiding the Red Flags

SBIR Grants Management

Avoiding the Red Flags Prevention is the best method of making sure you’re considered a “best bet” to complete the work. The following questions are the ones on the minds of the agency considering you for an award. They’re also often employed by outside investors,...

After the Award #3: Will an audit be required?

SBIR Grants Management, SBIR/STTR Budgets

Will an audit be required? The short answer? Yes. And no. It depends on the agency granting the award. But why do SBIR agencies even require audits after the award? Simple. They want to ensure that your financial system is free from misstatements, fraud or errors;...

After the Award #2 Read the award notice. Carefully.

SBIR Grants Management, SBIR/STTR Budgets

After the excitement of receiving your award settles down, be sure to read the award notice or contract carefully. Then do it again. Government grant awards might seem like free money, but they do come with some strings attached. Those strings are determined by the...

What happens after the award?

BBC General, SBIR related, STTR related, SBIR Grants Management

#1: Hire the employees You can’t do everything yourself. You need the right people to help you move your company forward. But hiring the right people goes beyond simply finding them. Here are a few important things to consider: 1. Employee offer letter or employment...

SBIR/STTR Awards: Free Money?

SBIR Grants Management

We often hear, and say ourselves, that SBIR/STTR funding is “free” money. While the funds are non-dilutive, requiring no repayment, we should clarify that SBIR/STTR awards are certainly not a “gift”. When a grant has been awarded the recipient...