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Both of these groups, those who took the Innovation Corps class and those who didn’t, applied for government peer-reviewed funding through the SBIR program. The teams that skipped the class and pursued traditional methods of starting a company had an 18% success rate in receiving SBIR Phase I funding. – See more here.
– Consider a separate loan program for very small businesses (fewer than 10 or 20 employees) that’s based on a revenue formula and so long as they use the funds for current expenses (i.e., Expand the Existing SBIR Programs. – Rapidly execute new SBIR awards. Expand the SBA Microloan Program .
Because of complex government regulations and a lengthy incubation period, funding a healthcare startup is more difficult compared to financing a tech startup. That’s why having a revenue-minded focus from the early stages helps to secure funding.
We had the chance to speak with Sassa to learn more about her background, SISU, and the amazing finance pathway SISU has followed. The science team is funded by an SBIR grant from NSF and we are very proud to be among the few companies in the country that actually have been funded. We were in the black already after 2 years!
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