The Small Business Innovation Research (SBIR) program encourages U.S.-based small businesses, including healthcare startups, to engage in research and development. Through the competitive, awards-based program (find out if you're eligible here), healthcare entrepreneurs can receive non-dilutive funding to explore the commercialization potential of their product or service.
Eleven federal agencies participate in the SBIR program, including the Department of Health and Human Services and the National Science Foundation. The goal of the program is to stimulate high-tech innovation and foster entrepreneurial spirit.
Definitions are a weekly feature on eMed for current and aspiring healthcare entrepreneurs.