Oklahoma Small Business Resource Guide - SBA

CAPITAL
First United Venture Capital Corporation
Bert Davison, Sr. Vice President
P.O. Box 19100
Oklahoma City, OK 73144
405-636-4500 • 877-263-1308 Fax
bertd@firstunitedbank.com
Investment Size Range
Preferred Min: $500,000
Preferred Max: $1,000,000
Type of Capital Provided: Equity & Debt
Funding Stage References: Early Stage,
Growth
No Seed Money Investments
Industry Preference: Most Industries
Considered
No High-Tech or Life Sciences
Geographic Preferences: Oklahoma & North
Texas
SMALL BUSINESS
INNOVATION RESEARCH
PROGRAM
The Small Business Innovation
Research (SBIR) program encourages
small businesses to advance their
technical potential from funds
committed by federal agencies with
large extramural research and
development budgets. The SBIR
program serves to fund the critical
startup and development stages
for a technology and encourages
commercialization of the technology,
product or service. In turn, this
stimulates the U.S. economy.
SBIR Requirements
Small businesses must meet
the following eligibility criteria to
participate in the SBIR program.
• Be 51 percent owned and controlled by
one or more individuals who are U.S.
citizens or permanent resident aliens
in the U.S. or be a for-profit business
concern that is at least 51 percent
owned and controlled by another
for-profit business concern that is at
least 51 percent owned and controlled
by one or more individuals who are
citizens of, or permanent resident
aliens in, the U.S.
• Be for-profit.
• Principal researcher must be employed
by the small business.
• Company size cannot exceed 500
employees.
For more information on the SBIR
program visit www.sba.gov/sbir.
Participating Agencies
Each year, the following eleven
federal departments and agencies are
required to reserve 2.5 percent of their
extramural R&D funds for award to
small businesses through the SBIR
program: Departments of Agriculture;
Commerce; Defense; Education;
Energy; Health and Human Services;
Homeland Security; Transportation;
24 — Small Business Resource OKLAHOMA
Environmental Protection Agency;
National Aeronautics and Space
Administration; and National Science
Foundation.
SMALL BUSINESS
TECHNOLOGY TRANSFER
PROGRAM
The Small Business Technology
Transfer (STTR) program reserves
a specific percentage of federal R&D
funding for award to small business and
non-profit research institution partners.
Central to the program is expansion of
the public/private sector partnership to
include the joint venture opportunities
for small business and the nation’s
premier nonprofit research institutions.
Small business has long been where
innovation and innovators thrive, but
the risk and expense of conducting
serious R&D efforts can be beyond
the means of many small businesses.
Non-profit research laboratories
are also instrumental in developing
high-tech innovations, but frequently
innovation is confined to the theoretical.
STTR combines the strengths of both
entities by introducing entrepreneurial
skills to high-tech research efforts.
The technologies and products are
transferred from the laboratory to the
marketplace. The small business profits
from the commercialization, which, in
turn, stimulates the U.S. economy.
STTR Requirements
Small businesses must meet
the following eligibility criteria to
participate in the STTR program.
• Be 51 percent owned and controlled by
one or more individuals who are U.S.
citizens or permanent resident aliens
in the U.S.
• Be for-profit.
• Principal researcher need not be
employed by the small business.
• Company size cannot exceed 500
employees. (No size limit for nonprofit
research institution).
The nonprofit research institution
partner must also meet certain
eligibility criteria:
• Be located in the United States and be
one of the following:
• Nonprofit college or university.
• Domestic nonprofit research
organization.
• Federally funded R&D center.
Participating Agencies
Each year the following five Federal
departments and agencies are required
by STTR to reserve 0.3 percent of their
extramural R&D funds for award to
small business/nonprofit research
institution partnerships: Department
of Defense; Department of Energy;
Department of Health and Human
Services; National Aeronautics and
Space Administration; and National
Science Foundation.
OCAST-Oklahoma Center for the
Advancement of Science and
Technology
Oklahoma’s small technology firms
have much to gain from the OCAST-
Oklahoma Center for the Advancement
of Science and Technology SBIR/STTR
support program. OCAST provides
both financial support and expertise
to help qualifying firms develop their
federal proposals. The program defrays
a portion of the proposal preparation
costs for qualifying firms, providing
up to $3,000 to help offset the costs
of developing a federal proposal; and
provides critical “bridge” funding
between Phase I and Phase II of the
federal project – up to $25,000.
In addition to being the designated
Oklahoma state agency for the SBIR/
STTR programs, OCAST provides
funding opportunities through the
following grant programs:
• Oklahoma Applied Research Support
(OARS)
• Oklahoma Health Research (OHR)
• R & D Intern Partnership (RDIP)
• Oklahoma Plant Science Research
(OPSR)
• Oklahoma Nanotechnology Applications
Project (ONAP)
For additional information, please
visit: www.ocast.ok.gov or contact Tessa
North:
OCAST
755 Research Pkwy., Ste. 110
Oklahoma City, OK 73104-3612
405-319-8410 or 866-265-2215 Toll Free
tessa.north@ocast.ok.gov
The Collaborative
OCAST is improving its resources
to aid Oklahoma’s small businesses
in pursuing federal funding by
launching the Oklahoma SBIR/STTR
Collaborative Project in March of 2011;
referred to as “The Collaborative.” The
Collaborative’s goals are to increase
the quality and quantity of SBIR/STTR
Oklahoma applications submitted to the
participating federal funding agencies
and to improve commercialization in
Oklahoma’s private sector and state
government.
Contact Steven Martinez to learn
more about The Collaborative project
and to see if your company qualifies for
SBIR/STTR funding.
Visit us online: www.sba.gov/ok