Companies often have a problem that can be uniquely solved by a university partnership. They will invest in external research to achieve an innovative solution for a new product or process that has great commercialization or market potential. But why would an academic want to be involved with addressing current business challenges?
New Hampshire ranks 22nd in total federal dollars awarded to small companies that have early-stage and high risk technologies with high potential for commercialization. Through the federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, New Hampshire companies have received over $425M since the program’s inception. To increase the financing of New Hampshire’s entrepreneurial initiatives, NH Inspires Innovation will offer a series of SBIR/STTR workshops around the state.
On June 26, Dartmouth College hosted the Annual Meeting of the NHIRC where Marc Sedam, Executive Director emphasized that the State Budget for the program increased due to NHIRC Day and the compelling metrics of job & economic impact. Board member Chris Way, DRED highlighted the efficiencies that will occur with a new implementation for managing the program finances.
What happens when you have a round-table discussion among entrepreneurs and early stage companies in Durham’s incubator Idea Greenhouse, led by the Seacoast regional manager of the Small Business Development Center, with experts who know how to write a winning SBIR proposal, know how to reduce the roadblocks related to intellectual property and have state funding to seed research/business partnerships? You have all the ingredients of a collaborative program that offers a pathway from innovation to commercialization and job creation for NH.