Sometimes, US-based small startups find their evolving R&D plan, funding, or business collaborations make them suddenly ineligible for SBIR funding they had targeted. For example, clinical trial costs or even lab work would be cheaper overseas, so, just like that, eligibility slips away.
What to do?
It’s a global economy. Explore the myriad non-dilutive funding opportunities the EU and its member states have to offer innovative companies.
New pharma startups in the US tend to look only to the US government for non-dilutive funding through agencies like the NIH and FDA via the cross-cutting SBIR/STTR program. But, when they partner with overseas companies, VCs, and vendors/contractors (incl. clinical trial sites), eligibility for those US programs can get…complicated.
In some cases, the European Union may provide opportunities—supply chain, regulatory, scientific, funding—that better align with a lean startup’s emerging trajectory. Explore, for example, the EU’s Innovative Medicines Initiative.
Individual EU countries, Ireland and the Netherlands for example, have implemented robust support programs for innovative small businesses that may be a surprisingly good fit for your startup. So don’t give up on non-dilutive funding if your business is not a fit for the US SBIR/STTR program—think globally!
Duke City Consulting has experience winning both US and EU funding for pharma clients. So, if you are considering non-dilutive funding for your business, but want a professional to guide you or manage the entire process, contact us for a consultation.