There are several Federal grants available for small businesses but these grants are targeted at companies in certain fields such as Health, Technology, or Science. If your business is involved in scientific ingenuities or research and development. Or even Climate and environmental enterprises, then the Federal government grant might be helpful to you in covering a part of your business expenses.
In some situations, the Federal Government issues these business grants directly to small business owners, whilst some other time, the Federal government only states the eligibility criteria of businesses seeking grants and then doles the funds to State and Local authorities and these in turn gives the grants directly to the various business owners who wins the business grants.
Below are some top small business grants issued by the Federal government:
Small Trade Innovation Research Program
The Small Business Innovation Research Program shortly termed SBIR is tasked with encouraging small industries involved in development and research and possesses marketable potential. The primary goal of the SBIR program is to encourage scientific innovation and technological entrepreneurship. Up to eleven (11) government agencies are participating in the SBIR program, and each has their own eligibility procedures, different research and development topics for companies, and each presents different procedures for reviewing applications for small business grants.
Minimum grant awarded is $150,000 but if your business shows better potential, you may receive up to 1 million dollars in grant from the Federal Government.
Small Industry Technology Transfer Program
Small Business Technology Transfer Program also called STTR in short form shares similar vision and goals with SBIR. About five federal agencies are participating in this program, each setting aside some monetary budget to work with small businesses. These grants start from $150,000 and climbs up to $1 Million dollars same as it is with the SBIR program.
Some Federal agencies participating in federal programs for small business grants are:
- NASA – The National Aeronautics and Space Administration
NASA is a self-governing organization of the US involved in the research of aeronautics and aerospace. They are also in charge of the civilian space program. Established in 1958, what?s cooler than collaborating with NASA on small business grant as a business owner?! Like, you get paid to work with NASA on the research and development of renewable and efficient energy; finding a better alternative energy source ? or best still, a more proficient way of developing spacecrafts ? 1,2,3, fly-off.
- NSF – National Science Foundation
If you intend sending application to the National Science Foundation for small business grant, then our business should be well positioned in fields such as Medicine, Science, or Engineering. And the required topic of research and development is changed annually. They created a YouTube channel to help applicants with first-hand guides on how to send application for small corporate grants each year.
- Department of Energy in the Offices of Science
The Department Of Energy is also a participant in the two small business grant programs – STTR and SBIR. Their research and development topics ranges from clean energy, to environmental and material sciences. Check out the list of topics here. You can also view their webinar to get more info about their procedures for receiving applications for small business grants.
In our next content, we will list out some more Federal agencies participating in the small business grant programs and some details about the various agencies so you could decide where you wish to get your next business grant from.