PROPEL Grants and Awards
- PROPEL SBIR/STTR Awards Program
- PROPEL Milestone Award Program - including Milestone Awards, Investment Preparation Assistance and Regulatory Planning Assistance
- Grants to Attend BIO International Convention, AdvaMed Conference and Other Conferences
The purpose of the PROPEL SBIR/STTR Awards Program is to increase the number of Illinois’ PROPEL companies that apply for and receive approval of SBIR and/or STTR federal research grants. Through these small grants, PROPEL expects to help its companies submit stronger grant submissions and be more prepared for managing approved SBIR/STTR grants. The federal Small Business Innovation Research (SBIR) program and its parallel Small Business Technology Transfer (STTR) program provide over $2 billion a year to small companies developing leading-edge technologies of interest to 11 federal agencies. Eligible small businesses can secure millions of dollars in nondilutive R&D funding to support the goal of commercialization of technology-based products.
The new PROPEL SBIR/STTR Awards Program consists of two parts: PROPEL Technical Assistance Awards to assist PROPEL companies in the preparation of SBIR or STTR grant submissions and PROPEL Grants Management Toolkit Awards to assist PROPEL companies with the implementation of a grants management program upon approval of an SBIR or STTR grant.
Eligibility and Requirements
- Applicants must be active PROPEL companies for at least 30 days prior to application submission and must remain an active PROPEL company by completing the semiannual tracking for at least 18 months after the award has been paid
- Awardees must have employees (not contractors, consultants, board members, etc.) attend a 2-day SBIR/STTR Grant Writing Workshop within 120 days of award approval or have already attended this workshop previously. It is preferred that attendance occurs prior to application submission.
- Awardee must sign a grant award receipt and agree to use BBCetc for these services. Awardee is responsible for all fees and expenses incurred with BBCetc beyond the approved award amount.
CLICK HERE for detailed information on the PROPEL SBIR/STTR Awards Program.
Applications are available to PROPEL companies upon request.
PROPEL established the PROPEL Milestone Award Program to assist active PROPEL companies with obtaining professional services for:
- Comprehensive business planning assistance
- Preparation for post-seed stage investment
- Development of detailed regulatory planning and strategy
- Other projects that are directly linked to value-enhancing milestone achievement
This program is available only to PROPEL companies that have actively participated in PROPEL's educational programming and is part of the mission and programmatic efforts of PROPEL.
Applications will be reviewed twice each calendar year. The Spring deadline is May 15 and Fall deadline is Oct. 15. Approved awards will be announced in approximately June and November. Eligible PROPEL companies have:
- been active in PROPEL for a minimum of 1 year
- raised a minimum of $150k of non-founder/management investment
- not received this award during the last 12 months
- actively participated in PROPEL's educational programming
The standard funding available per individual grant or award is between $5,000 and $30,000 to be used for eligible projects. In general, for approved awards above $7,500, PROPEL links the value of the award to future equity in the company. Some milestone awards greater than $30,000 may be considered on an individual, case-by-case basis. Some milestone awards will require a company cash match of 100% of the amount awarded.
CLICK HERE for detailed information and application information on the PROPEL Milestone Award Program.
Each year, PROPEL awards its companies with grants to help with registration costs for important conventions and conferences, including the BIO International Convention and the AdvaMed Conference.
CLICK HERE for information on PROPEL's most recent grants to attend the BIO International Convention.
CLICK HERE for information on PROPEL's most recent grants to attend the AdvaMed Convention.
In 2015, PROPEL expanded this program to help with registration costs to other critical conferences or conventions for a PROPEL company's development. Grant applications for other conferences (besides BIO and AdvaMed) are reviewed on a rolling basis. The deadline is no less than 60 days prior to an event's start date, but PROPEL companies are strongly encouraged to apply at least 30 days before an early bird registration deadline, if one exists. CLICK HERE for information on this program.