With over $1.3B dollars each year to fund U.S. startups, the National Institutes of Health (NIH) Small Business portfolio consists of life science companies dedicated to developing a full range of advanced technologies and products to improve the human condition.
Eligible small businesses may receive multiple millions of non-dilutive dollars from NIH’s Small Business Innovative Research (SBIR) and Small Business Technology Transfer (STTR) programs. Funding comes in tranches, from $300,000 – $4 million, based upon the stage of development and likelihood of the end product “moving the needle” in healthcare. Only the most innovative projects, with reasonable research plans, a strong team, and access to commercialization resources are funded. NIH-funded companies are often leading the curve in solving the most intractable healthcare challenges.
Once part of the NIH portfolio, companies have access to NIH’s deep scientific expertise and to a wide variety of product development resources through the Small Business Education and Entrepreneurial Development (SEED) office. Programs for customer discovery and gap analysis support research and development efforts and guide companies along the path to commercialization. SEED’s team of specialized advisers also offers focused consultations to help portfolio companies understand:
- Business concepts – competitive analysis to term sheets
- Regulatory pathways – breadboard or lead to clinical deployment
- Reimbursement – pricing strategy to coding and coverage
- Intellectual property – trade secrets to licensing
- Developing a strong pitch deck – and planning for post-pitch conversations
- Identifying and engaging vendors to perform the many activities a startup may outsource
The combination of “free” money and resources makes the NIH Small Business program a vital tool for companies to leverage. Everything you need to know about who to contact, how to apply, and research areas of interest is on the SEED website, and you can subscribe to NIH’s Entrepreneurship News to stay abreast of new programs and funding opportunities. SEED is the name of our office, our website, our focus, and our passion.
About Chris Sasiela
Dr. Chris Sasiela has more than 15 years of experience educating and enabling academic innovators and small businesses engaged in therapeutic, device, and diagnostic product development programs. As the Director of Innovator Support Services in the SEED (Small business Education and Entrepreneurial Development) Office at the National Institutes of Health, Chris coordinates the activities of a team of seasoned professionals with experience in business strategy, business development, fundraising, partnerships, reimbursement, and regulatory affairs and oversees the Company Showcase, TABA Needs Assessment, TABA Consulting Services, and Business, Regulatory, Reimbursement, and SOW Development Consult Programs. Chris is passionate about enabling NIH’s innovator community to progress their discoveries as far as science and human biology permit. Starting her career as a basic science researcher, Chris quickly decided to get closer to human impact in her work and engaged in drug discovery, development, and improvement with several employers before moving even closer to human impact as a regulatory professional. Throughout her tenure at NIH, Chris has worked at the National Institute of Allergy and Infectious Diseases, the National Heart, Lung, and Blood Institute, and is currently in the Office of the Director. In addition to the formal programs mentioned earlier, Chris and her team deliver educational seminars and develop educational resources for internal and external stakeholders supporting solution development addressing a full spectrum of human disease and disorders.
