iDEa Lab Helps Entrepreneurs Take
Their Ideas to the Next Level!
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Over the past 8 weeks,
a group of Delaware entrepreneurs met weekly to refine their business strategy and approach.
Guided by Delaware Small Business Development Center Tech Business Advisors and advice from each other, these entrepreneurs walk away energized, confident, and understanding the steps needed to take their product to market.
This iDEa Lab Cohort learned to:
· Create a meaningful value proposition
· Determine target markets and customers
· Develop Go-To-Market plan
· Identify any business model and partnership opportunities
· Draft competitive SBIR/STTR proposals
· Confront inevitable roadblocks, and more
While this training is focused on supporting technology or innovation-focused ventures, the program focuses on developing skills needed in managing a quickly-growing small business. One iDEa Lab cohort participant even used their experience to successfully apply for the EDGE Grant - congratulations to A.I.Whoo on their recent win!
Participant Chunhong Li, CEO of 4th Phase Technologies, shared his experience in the first 2023 iDEa Lab cohort:
“Training offered by iDea Lab has allowed us to solidify our mission and understand best fit in the marketplace. Tools we learned help us strategize outreach and understand the market appetite for our products, as well as determine outreach and the channels to scale up/manufacture. The feedback from our instructors as well as fellow entrepreneurs has been invaluable, leading to continued growth and understanding. Lou, Elyce, and Nick have provided extensive support and commitment to establish our path forward, helping us prioritize next steps, as well as contributing their expertise on military bid and proposal efforts. We appreciate their commitment!”
For more information on attending the next iDEa Lab Session, please contact elyceth@udel.edu.
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Delaware EDGE Grant Deadline March 31, 2023
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The Delaware EDGE Grant gives qualified Delaware small businesses a critical edge by offering access to $100,000 of non-dilutive capital for technology companies and $50,000 for non-technology companies.
The deadline to apply is 4:30 pm on March 31st, 2023. The next round will take place in September of 2023.
Learn more about the EDGE Grant by visiting business.delaware.gov or our website to tap into free, confidential, one-on-one advising while you prepare your application! With an extra review of your EDGE Grant from an SBDC Advisor, you can be sure you're set up for success.
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SAVE THE DATE - UPCOMING EVENTS |
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5/3 - SBIR/STTR Overview from the National Cancer Institute
Join us for a webinar on May 3rd from 2:00 -3:00 pm to learn more about the funding opportunities available at the National Cancer Institute (NCI) SBIR Development Center. NCI SBIR Program Directors Jonathan Franca Koh and William Bozza will go over fundamental information on NCI SBIR/STTR funding, as well as commercialization resources and application tips. They will also be available for individual, in-person appointments with webinar attendees on May 10th at the FinTech Building in Newark, Delaware.*
The Federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs are critical sources of non-dilutive financing for early-stage companies. The National Cancer Institute (NCI) SBIR Development Center provides funding, networking, and mentoring support for small businesses developing innovative cancer technologies. NCI SBIR has a Fiscal Year 2022 budget of $182 million to fund small businesses’ commercialization efforts.
At the event, you will learn about:
- SBIR/STTR eligibility requirements
- NIH SBIR/STTR process and new cancer-focused funding opportunities from NCI
- NCI SBIR/STTR initiatives such as the I-Corps at NIH Entrepreneurship Program, Applicant Assistant Program, etc.
- Practical strategies for successfully submitting competitive research proposals
Date: May 3rd, 2023
Time: 2:00 pm - 3:00 pm
*Registration for in-person individual sessions with a Program Director on May 10th will take place during the May 3rd webinar.
For more information, please contact:
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5/18 - How to Attract Investors When Scaling Your Business
Join us in person for a luncheon to learn about the good, bad, and ugly of scaling your business with investors.
Learn to communicate with investors at our May 18th panel discussion hosted by the Delaware Business Times and the Delaware Small Business Development Center. Understand how to deal with investors from the experts - hears from founders and CEOs from venture-funded companies, venture advisors, and investors themselves. This panel will be packed full of takeaways that will help small businesses and growing ventures navigate the realm of investor capital.
Date: May 18th, 2023
Time: 11:30 pm - 1:30 pm
Tickets: $30.00
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3/15 - iEdison Training Webinar
In this session, Bethany Loftin showed attendees how to use the iEdison system (an online reporting system for grantees and contractors who receive federal research funding) to create invention and patent reports that comply with Bayh-Dole reporting requirements.
Click here for more information on iEdison and including detailed training on how to use the system.
3/18 - Dept. of Energy Uncovers the Mystery of SBIR/STTR Grants
U.S. Department of Energy (DOE) SBIR/STTR Program Managers, Dr. Eileen Chant and Dr. Carol Rabke hosted a free webinar on Wednesday, March 8th from 11AM – 1PM. They presented a deep dive into the DOE SBIR/STTR programs, awardee assistance programs and what to consider regarding commercialization and partnering.
See the following links to download the presentation slides:
For more information, please contact:
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DEPARTMENT OF ENERGY
PHASE I:
- Award Notification - Monday, May 15, 2023
- Projected Grant Start Date - Monday, June 26, 2023
- Awardee Webinar - Week of July 10, 2023
- Energy I-Corps Kickoff - September 2023
- Principal Investigator Meeting - October 2023
PHASE II:
- FOA Issued - Monday, February 27, 2023
- LOI (All Phase II applications) Due Wednesday, March 29, 2023 5:00 pm ET
- Applications Due Tuesday, April 18, 2023 11:59 pm ET
- Award Notification Monday, July 10, 2023
- Projected Grant Start Date Monday, August 21, 2023
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There is a wealth of information at SBIR.GOV including tutorials and a few tips from the agency perspective. Take a look at some of their online tutorials that help interested parties learn more about the SBIR & STTR programs:
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TIPS FROM OUR TEAM: Developing your SBIR Budget
Are you seeking quick advice on a well-rounded, effective budget strategy for your SBIR applications? Below are some tips from our SBIR Resource program's Technology Business Advisors.
- Build a spreadsheet
- Do NOT try to develop the budget in the proposal forms
- Separate Labor and Other Direct Costs
- List everything you need to get the job done based on your work plan
- Adjust the budget and or effort accordingly
- The contract personnel will not be happy if you try to make a $100K budget $99,999.99
- Read the solicitation – different agencies treat some costs differently than others
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Take Indirect Costs even if you have to settle for the de minimis
- ALWAYS, ALWAYS TAKE THE 7% FEE!
Want to learn more or ask questions? Our growing SBDC team is always here to help.
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Remember to reach out to your SBDC Advisor or check in on agency websites to ensure you are doing everything right for your proposal. Keep a checklist nearby with your next steps - get in touch with your Advisor or visit our website to Request Counseling >
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EDGE Winner Irene Rombel of BioCurie
Presents to Delaware State Legislators
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Delaware Life Sciences & Small Business Caucus invited Irene Rombel, Co-Founder and CEO of BioCurie to present to the Delaware State Legislators on 3/9/23 to discuss the importance of the local life science industry and its strategic and economic value to the region.
BioCurie, a Delaware-based software platform start-up focuses on helping biopharma and biomanufacturers produce life-saving therapies faster, better, and cheaper. Developing the world’s first AI-based software in this arena, BioCurie seeks to transform the current state of cell and gene therapy (CGT) production from today’s brute-force “hit-or-miss” approach to a new data-driven paradigm. This innovative software will enable biopharma to swiftly and efficiently develop and manufacture CGTs that are safe, effective, and affordable.
Bio Curie is a recent Delaware EDGE grant winner and Small Business Development Center client - their Round 6 EDGE grant win will fund the commercialization of BioCurie’s first software product for gene therapy manufacturing.
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The Delaware SBDC, a unit of the University Of Delaware's Office of Economic Innovation and Partnerships (OEIP), is funded in part through a cooperative agreement with the U.S. Small Business Administration (SBA) and the State of Delaware. All SBA programs and services are provided to the public on a nondiscriminatory basis. Reasonable accommodations for persons with disabilities and accommodations to clients with limited English proficiency will be provided when requested at least two weeks in advance. |
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