Local Small Business Resources

Today on one my listgroups, there was a question about how to get on a schedule for the government. Personally I don't think a schedule is always that useful at least for a company that is starting out but it is another way for a customer to get to you if you want to sell within the public sector. Today I'll show you some local resources that any small business can reach-out to get yes "FREE" help. This is not completely true across the board as some charge minor fees. But the costs are fairly low.

If you want to work in the defense sector, you can contact a Procurement Technical Assistance Center (PTAC).
http://www.dla.mil/db/procurem.htm

For any small business, you can contact a Small Business Development Center.
http://www.sba.gov/aboutsba/sbaprograms/sbdc/index.html

For woman-owned businesses, you may contact a women's business center.
(The SBA website is broken) so I would google WBC or look them up in your local phonebook. They are not in every location.

Also a final resource is SCORE,
http://www.score.org/

Hopefully this is helpful advice to my average readers.

Small Business Technology

Today, a business associate showed some interesting technology relative to security. While it was interesting, it appeared to be not quite ready for prime-time as I put it. It was not evident from the technical papers that there was actually a developed product or that it was a paper product. There is unfortunately a big difference for most investors. I couldn't tell where it really was in the development cycle (we refer to it as the maturity level) and had to have them get more information back to me. I had seen what appeared on the surface relatively similar technology that was already commercialized. I also found out they had no patents or copyrights - and told them to get some research concerning their rights. So I sent back a set of questions to address, we'll see what their answers are.

But interestingly enough some of my "FREE" advice had to do with getting government funding - pay attention here all you inventors because I'm giving you the same free advice. Their particular technology was applicable to homeland security applications. I discussed with their representative that we might want to team with them to identify some research funding if this was only at the paper level after we got more information. These programs would help an investor reduce their risk slightly of starting with a paper product to explore the commercialization of it. Added benefit, you get to keep your technology also! So if you want to know more about the small business research programs you can go to the provided header link or go to http://www.sba.gov/SBIR. The two programs are:

• The SMALL BUSINESS INNOVATIVE RESEARCH (SBIR) and only small businesses can apply.
• The SMALL BUSINESS TECHNOLOGY TRANSFER (STTR) which is still small business but now they need a university partner to win the award.

Another critical factor for award is that the company really NEEDS to have an investor / company who wants to take the product commercial and can see the use of the technology both in the government and commercial sector. The larger investor / company doesn't get to play until later phases of the programs - they just need to provide you a letter stating they want it and they can provide the additional commercial funding side of the program at the later phase.

I'll talk a little about a good technology investment company role. They should have a wide range of product portfolios across risky to non-risky investments. It can't all be non-risky because if it was, the investment won't make as much money. The key is to invest in break-through and disruptive technology to maximize the return on investment (ROI) early in the game. To recognize that it is, or maybe to even recognize that it might be applied in the wrong sector is almost an art form. Technology that might not quite be on the cusp is less risky but you end up needing more investment money potentially to get it commercially completed or marketed. Because inventors tend to spend all their money creating their "baby", they don't tend to have the marketing resources to get the $$ rolling in. That is the role of any good technology investment team. Creation of a "win-win" situation for everyone and not just the investor.

Pretty darned cool but realize at the same time this can be a pain in the backside if you haven't dealt with government agencies - but hey you get to keep this money without losing any of your company - can't complain too much!