Economic Development Investment Strategy - City of Las Vegas

C i t y o f L a s V e g a s | E c o n o m i c D e v e l o p m e n t I n v e s t m e n t S t r a t e g y
6.
GOAL: Target companies receiving federal SBIR/STTR awards for
business recruitment to Las Vegas.
continued
APPROACH
STRATEGY. Initiate a recruitment campaign that targets
companies that have been awarded SBIR/STTR grants
from the federal government.
→ Targeted companies should be contacted via a
combination of direct mail and visitation.
→ With almost 29,000 awards since 2003, firms
located in California, especially in target
industries, represent a logical pool of candidates
for pursuing.
STRATEGY. Companies should be individually researched
and contacted with customized information that addresses
potential needs.
STRATEGY. A relocation/incentive package should be
tailored to the company’s needs, including:
→ Space,
→ Data storage access,
→ Talent recruitment,
→ Workforce training, and
→ R&D linkages & facilities
STRATEGY. SBIR/STTR companies should also be a
target for business retention and expansion.
→ Call on companies located in Las Vegas that
have received SBIR/STTR awards.
→ Offer customized assistance for expansion.
STRATEGY. Encourage Las Vegas companies to work
with the Governor’s Office of Economic Development to
pursue federal SBIR and STTR grants, as well as other
federal research and innovation funds.
TIMELINE
< 12 mos 1-2 years 3-5 years 5-10 years
7 GOAL: UTILIZE NEW INCENTIVE TOOLS…
ABOUT THE SBIR PROGRAM
The Small Business Innovation Research (SBIR)
Program is structured in three phases:
Phase I. The objective of Phase I is to establish
the technical merit, feasibility, and commercial
potential of the proposed R/R&D efforts and to
determine the quality of performance of the small
business awardee organization prior to providing
further federal support in Phase II. SBIR Phase I
awards normally do not exceed $150,000 total
costs for 6 months.
Phase II. The objective of Phase II is to continue
the R/R&D efforts initiated in Phase I. Funding is
based on the results achieved in Phase I and the
scientific and technical merit and commercial
potential of the project proposed in Phase II.
Only Phase I awardees are eligible for a Phase II
award. SBIR Phase II awards normally do not
exceed $1,000,000 total costs for 2 years.
Phase III. The objective of Phase III, where
appropriate, is for the small business to pursue
commercialization objectives resulting from the
Phase I/II R/R&D activities. The SBIR program
does not fund Phase III. For some federal
agencies, Phase III may involve follow-on non-
SBIR funded R&D or production contracts for
products, processes, or services intended for
use by the US government.
Source: www.sbir.gov
POTENTIAL PARTNERS
City of Las Vegas • Las Vegas Global Economic Alliance •
GOED • Las Vegas Metro Chamber • UNLV • Vegas
Young Professionals
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