Grants for patents are a help and support through funds to people who need financial support to completely develop their inventions or creations. As we know, a lot of startup investors are there who don’t have the required funds to cover the grant applications as well as to develop their inventions, so for them, grant funds ensure to make it possible for such investors to invest in their creations or business and get a patent as soon as possible.
Various governmental and non-governmental organizations provide grants for patents. One of the best sources to get grants for inventions is the federal government. The private organization also helps by offering to fund but they offer likely when the invention has a positive impact on society. Here, in this article, we would discuss government grants for patents, how to get grants for patents, and much more. Read along!
03 Ways to Get Grants For Patents?
Government organizations and some private organizations are the two places where you can get grants for patents. And as we read above, the federal government is the best source to get grants for patents. Well! Private organizations are more likely to provide funds when the invention can give a positive impact on society. As you need grants for patents, then search both private and public.
- Federal grants for invention.
As being the best source to get grants for inventions, let’s discuss it first. The US government supports development and research efforts when it seems an inventor giving to initiatives that straighten with its objectives. Help is provided through funds that are available in amounts as large as several million dollars. Funds that are given through grants for invention program are not repaid grants.
To get grants for patents just visit the official website grants.gov as it is the main source of getting knowledge about federal government grants. You can also visit the official website of SBIR which stands for small business innovative research. SBIR provides funding through the agencies of the federal government grants for inventions that have enough potential to be commercialized. SBIR grants funding for the startup, development, and commercialization.
Additionally, look for the official website of particular federal agencies to see what grants for inventions they are offering. For example, if your invention is based on ranching then look on the agriculture department website. Submit a request for financial support to the SBIR if you are an inventor with a for-profit, small organization then you have to meet the criteria to avail the grants for patents. SBIR controls over a dozen government agencies and generally, maximum grant values are ranging from $150,000 for initial to $1,000,000 for subsequent phases.
- At least it owned 51% or more than by US citizens or permanent residents.
- It should have 500 or fewer employees.
- Non-profit grants for inventions.
You can also consider non-profit organization grants for inventions. Social enterprise has both for-profit components and social. Non-profit has to tax freedom so you can look for grants that take benefit of that status. Simply, join a club of inventors in your area and network of inventors so you can discover more grants for inventions opportunities. Visit the united inventors association official site to search for inventors clubs in various regions. Nonprofits grants for inventions may give to promote the discoveries in areas they are actively connected.
Even, being a college student or a faculty member of the college you can freely apply for grants for patents from the national collegiate inventors and for innovators alliance which provides grants for inventions that meet the eligibility criteria mentioned below.
- Should have commercial potential.
- Has the ability to impact positively on society.
- Should be an innovative technology.
- Other grant investors for inventions.
If the grantor you are interested in then allows it. Just make a professional idea to present along with your grants for patents application. If you get an interview with the grantor then you can explain to them how dedicated and deserving you are for the grants for patents when you have the acknowledged visuals to display to committee members. It can make a difference in whether you get grants for inventions or not.
Consider once the “angel” investors for invention, they promote innovations but with limited donations that normally range between $20,000 to $100,000. These types of investors for inventions expect repayment that is normally a small portion of control in a new company. Unlikely, they’re involved in the regular running business, but they will introduce the important members of their network to you. To find them contact the alumni association at your chamber of commerce or alma mater.
The other investors of investigation are venture capital companies that may offer you millions of grant dollars since they promote it to a very high level. In exchange, they will ask you to give them a portion of ownership in your startup. These firms are usually connected in a startup’s strategic direction and they are frequently expressed on the director’s board.
Because the grant application process can be a long time consuming and costly deal, and grant money is important for many inventors who have limited funds for their startup or development. By financially backing support that they do not have to pay back the fund so the inventors can completely focus their efforts on their creations.
Getting grants for patents is not an easy task. You have to get more and more information to get them easily. Grants for inventions can be claimed by government and private organizations. In this article, we have discussed grants for patents, investors for inventions and much more. Thanks for reading.
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