The New Mexico Federal and State Technology Partnership Program, housed at New Mexico State University’s Arrowhead Center, will host a Small Business Innovation Research National Institute of Health funding workshop next month in Las Cruces.
The workshop will take place from 8 a.m. to noon Tuesday, June 6, at the Burrell College of Osteopathic Medicine. The workshop is free, and tickets are available at https://nih_funding_workshop.
The workshop will feature NIH SBIR program manager John Kim, who will provide a presentation on current NIH SBIR program initiatives and tips to consider when applying for NIH SBIR funding. NM FAST program specialist Del Mackey will provide an in-depth look at how to prepare and submit a strong proposal.
“I am excited to be able to participate in and help host the NIH-focused SBIR information and assistance seminar at BCOM,” Mackey said. “Growing the capacity of small businesses across New Mexico is one of our guiding goals, and a large thrust in our outreach services. I greatly look forward to speaking with participants on how they can get help in funding their innovation and reaching new market potential through assistance from programs like NM FAST.”
Concurrent to Mackey’s presentation will be private one-on-one sessions with Kim, where attendees can discuss their innovative ideas and how they fit within the NIH SBIR program’s objectives. One-on-one sessions are an incredible opportunity to get in front of a program manager and have questions or concerns answered prior to submitting a full proposal.
Locating the workshop at BCOM supports the growing health-tech interest in southern NM and the surrounding region.
“We are pleased to welcome members of academic and business sectors to the Burrell College of Osteopathic Medicine for this NIH workshop,” said Joseph Benoit, director of research at BCOM. “We are excited about meeting innovative thinkers who are committed to developing translational ventures that put research to work in Southern New Mexico.”
NM FAST program manager Zetdi Sloan sees the workshop as an opportunity for local health-tech firms to take advantage of this funding.
“Businesses can receive up to $1.15 million in each two-phased grant,” Sloan said. “That includes an initial $150,000 for six months to prove a technology’s viability, followed by up to $1 million more for two years to build a working prototype that companies can begin commercializing. There are very few sources of capital that provide non-dilutive financing of this magnitude for early-stage technology and research-focused companies.”
The workshop presents an opportunity for small technology firms to learn how their innovative ideas or capabilities – either technology or services – can be delivered to the NIH. In FY 2016, the NIH invested $870 million into health and life science companies whose innovative technologies are helping to advance their mission of improving health and saving lives.
The NM FAST program, which is supported by a grant from the U.S. Small Business Administration, works to improve the participation of small businesses in federal SBIR and Small Business Technology Transfer programs for innovative, technology-driven small businesses. NM FAST has been gaining traction in New Mexico by offering statewide workshops, mentoring, and micro-grant awards for eligible small businesses.
“It is the goal of NM FAST to help the start-up community grow, become more diversified, and have a real and sustained economic impact in our state,” said Sloan.
The NM FAST Partnership Program provides small businesses with:
– Assistance in identifying appropriate solicitations and topic areas;
– How-to information on agency registrations and electronic proposal submission;
– Guidance on proposal preparation, including assessments of technical objectives and hypotheses and drafting supporting documents such as biographical sketches, resources and budgets;
– Specifics on the target agency’s requirements for commercialization content in Phase I/Phase II proposals; and
– Technical reviews and edits of proposals with feedback.
In addition, NM FAST provides select first-time awardees micro-grants of $650 to cover the expenses of professional services such as commercialization plan assistance, development partner identification assistance, research partner identification assistance, counsel on patents and technology licensing, and indirect cost rate advisement, for proposal development.