DEFENSE DEPARTMENT TO OFFER UP TO 4X MATCH FOR PRIVATE SECTOR INVESTMENTS IN SMALL TECHNOLOGY COMPANIES

Date: Wed, 04 Oct 95 16:22:39 -0700
From: Webmaster
Organization: Foresight Science & Technology
Subject: DoD Program

DoD's Small Business Innovation Research (SBIR) program expects to fund $450 million in early-stage R&D projects at small technology companies in the next fiscal year. Awards will be made in technology areas that have defense and commercial applications. Starting this fall, DoD will give its highest priority in making SBIR awards to small companies that are able to attract independent third-party investors -- such as venture capital firms, large companies, or "angel" investors.

If selected for award, these small companies will receive uninterrupted DoD funding of up to $850,000 over a two-and-a-half year period. In practice, this means that an investor that offers to help fund an early-stage technology project at a small company can obtain a match of between $1 and $4 in DoD SBIR funds for every $1 the investor puts in.

This new policy -- the SBIR "Fast Track" -- was approved for implementation by Under Secretary of Defense (Acquisition & Technology) Dr. Paul Kaminski in early June. Its purpose is to significantly increase DoD's success in converting SBIR research into affordable, high-performance products which serve military and commercial customers.

For more information:

see the page entitled "DoD SBIR Fast Track" on the World Wide Web at http://www.seeport.com/SBIR/fasttrk.htm
call 1-800-382-4634
contact our DoD Fast Track listserver by e-mailing list@seeport.com with the message join DoD on the first line of your e-mail.

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