Invention Grants and Financing
Grant ProgramsInvention grants and financing are available from government sources, however, they are not just sitting there waiting to hand money to you. There is a process to follow just like any other funding process. Governments at all levels have an interest in supporting research, development and commercialization of technologies related to the environment, energy, health sciences and high-tech. With the "meltdown" of economies and the proliferation of "bailouts", governments realize there is a need for change.
Criteria Government programs are often very specific as to what types of inventions they will fund and what criteria is required to apply. There are numerous databases for grants, which include available resources and funding requirements. The criteria for qualifying varies depending on the source of funding. Understanding the process and preparing qualified applications is important. For example, the Small Business Innovation Research (SBIR) program provides grants to small businesses with innovations that have the potential to be profitability commercialized. The criteria for these grants includes a business plan and a technical evaluation of your invention.
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