Many inventors and companies have a product essentially ready for production that they want the government to buy. Others have a few bugs to work out and need a few thousand dollars to make the product ready for production. This is more along the lines of procurement, does not qualify as a research idea, and is therefore not suitable for the federal R&D grant programs. In addition, the work must be truly innovative or "leading edge" in application if not discovery. Applicants must be well aware of similar work past and present, and therefore must do their homework thoroughly.
Federal R&D grant proposals MUST demonstrate that the proposed technology meets, needs or solves vital problems that can be deemed "in the national interests," at least for some major segment of our society or economy. One good way to judge this is to assure that the project advances the mission and goals of the sponsoring agency.
By the time you apply and receive an award, it can take six to twelve months before you see any federal research funding from the government. It can take three-and-a-half to four years or more, from first application to complete development, testing, production and sales. If your target industry moves quickly, like developing computer software, you may also need to pursue other funding mechanisms.
Because of the competitive nature of the award process, federal agencies place a great deal of emphasis on whether applicants can actually perform the work described in their proposal. If you do not have work experience or education in the field you are researching, consider partnering with another company or university or hire a consultant to perform some of the work for you. See the program rules for how much work can be contracted out and who can perform it for you.
An inventor is an individual who has been tinkering with something and wants to see if they can get free money to finish it. An entrepreneur is someone with a business (or who wants to create a business) from the product with a goal of making a profit from his/her innovative products or services. The entrepreneur is a more suitable candidate for the federal R&D grant programs because the goal of the programs is to commercialize technology, grow the company, and stimulate the economy through job creation. It is also helpful if the entrepreneur has a steady revenue stream from the company’s current sales while developing new products. Keep in mind, to prevent causing excess strain on the business, the entrepreneur should be developing new products that are within the same venue as the existing business.
Those who do best in the federal grant program are existing small companies with credentials in the field of the proposal or who partner with recognized experts - companies for whom the federal grant fits and advances their business plan. Occasionally, a lone innovator or small partnership can start a company based on federal grants, but because of their competitive nature, the principals had better have a lot going for them as well as a backup plan. An inventor who wants grant money to tinker at home and make models, but has no real intention of making a paying business with the product, shouldn't waste his/her or the agency's energy. His/her chances are nil, but the serious professional who has an appropriate project, is capable of true innovation and commercialization, and who submits a superior proposal that meets the agency’s needs has about a 30 to 70 percent chance of getting funded.
Who is your product’s target customer? Why do they need your product? What have they been using instead? These questions are important to answer about your technology. While one of your customers may be the federal government, you may also need to consider applications in the private industry.
Has anyone else thought of this idea before? What research have they done? If they are no longer doing research on the product, why not? Search the Internet and journal publications to see what information is out there on the subject. Don’t be afraid to call other companies (even the competition) and inquire about their activities. Most researchers love to talk about their work and may like to collaborate with you on your project. They may also give information about how to avoid the mistakes they made and might provide you with crucial information about the industry and competition.
Competing for a federal grant award is a time consuming process. Some experts estimate it takes over 80 hours to write the actual proposal, which does not include performing the background research, market analysis, team building or contacting the federal program manager. If you are consumed with running your business or other activities and do not have the time to devote to writing a competitive proposal, you may not have the time to perform the research. If you think the federal R&D grant programs are for you, do as much of the preparatory work ahead of time as you possibly can. The solicitation open periods can be as short as 60 days, which gives little time for proposal review and correction by others if all of the time is consumed doing the background work.