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Revisiting the Department of Defense SBIR Fast Track Initiative
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In October 1995, the Department of Defense launched a Fast Track initiative to attract new firms and encourage commercialization of SBIR funded technologies throughout the department.1 The goal of the Fast Track initiative is to improve commercialization through preferential evaluation and efforts to close the funding gap that can occur between Phase I and II of the SBIR program. Reducing this funding gap can help small innovative businesses maintain their momentum while crossing the early-stage funding Valley of Death, a term that describes the period of transition when a developing technology is deemed promising, but too new to validate its commercial potential and thereby attract the capital necessary for its continued development.2. The time-lag between the conclusion of Phase I and the receipt of Phase II funds can create cash-flow problems for small firms. The Fast Track initiative seeks to address the gap by providing expedited review and essentially continuous funding from Phase I to Phase II as long as applying firms can demonstrate that they have obtained third-party financing for their technology.
CHARLES W. WESSNER - Personal Name
978-0-309-13211-4
NONE
Management
English
2009
1-213
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