Sttr Agreement

STTR Agreement: Explained for Small Businesses

Small businesses often face a lot of challenges when it comes to growing their businesses and accessing funding opportunities. One way that small businesses can access funding is through the Small Business Technology Transfer (STTR) program. But what is an STTR agreement, and how can it help your small business?

What is an STTR Agreement?

An STTR agreement is a type of contract that is used by the federal government to facilitate the transfer of technology from research institutions like universities and government laboratories to small businesses. The program is designed to help small businesses develop innovative products and services while also advancing scientific research in the United States.

The STTR program is similar to the Small Business Innovation Research (SBIR) program, but with one key difference: the STTR program requires the small business to collaborate with a research institution. Specifically, small businesses must partner with an academic institution or a nonprofit research organization to develop their technology.

How does an STTR Agreement Work?

The STTR program works by awarding grants to small businesses that are developing new technologies. The grants are intended to help the small business cover the costs of developing their technology and taking it to market. The small business must also provide matching funds in order to receive the grant.

Once the grant is awarded, the small business enters into an STTR agreement with the research institution that it is partnering with. The agreement outlines the terms of the collaboration, including how the technology will be developed, who will own the intellectual property rights, and how any profits will be shared.

Benefits of an STTR Agreement

The STTR program can be a great opportunity for small businesses to develop innovative technologies and access funding that they might not otherwise be able to obtain. The program also encourages collaboration between small businesses and research institutions, which can lead to new discoveries and advancements in scientific research.

In addition to the funding and collaboration opportunities, the STTR program also offers small businesses a chance to protect their intellectual property rights. The agreement provides a framework for how the intellectual property will be owned and shared, so that both the small business and the research institution are protected.

Conclusion

In summary, the STTR program is a great opportunity for small businesses to access funding and collaborate with research institutions to develop new technologies. If you`re interested in applying for an STTR grant, it`s important to understand the terms of the agreement and how it works. With the right partner and a solid plan, an STTR agreement could be the key to taking your small business to the next level.