Issuu

ISSUE

Nō 09

TALK TO US

EXECUTIVE EDITOR

Comments/questions phase3editor@dawnbreaker.com dawnbreaker.com

@Dawnbreaker

Jenny Servo, Ph.D.

20 19

DESIGNER

Holly Reader, MFA

This mini-mag is a companion to the Phase III magazine that Dawnbreaker has produced since 2008. We felt that another publication that shared information regarding the Small Business Innovation Research (SBIR) program would help those who aspire to Phase III commercialization success. As commercialization is also a metric of success for organizations involved with technology transfer, topics of interest to universities and federal labs will also be included.

FEATURES

FINANCE Financing Your Startup at Every Stage

MARKET Exascale Computing and Hyperscale Data Centers

COMMERCIALIZATION Are You Doing Enough?

DIVERSITY Arkansas

TECH TRANSFER Has Your Organization’s Invention Machine Stalled?

OTHER Spanish Podcast Series

CURRENT SBIR/STTR SOLICITATIONS

DoD

Department of Defense SBIR/STTR BAA

USDA

United States Department of Agriculture Solicitations

DOE

Department of Energy SBIR/STTR Solicitation

DAWNBREAKER®

HHS

Health and Human Services Solicitations

F IN A NCE

MINI-MAG

Visit Dawnbreaker Webinars

Financing your startup at Every Stage By Dan Keeley, MBA, M.Eng.

hen an entrepreneur dreams of starting and building their own company, they rarely look forward to the problem solving associated with funding their venture. For even the most quantitative and technical founder, raising capital can be a difficult and confusing process. Nonetheless, every startup will likely require some form of funding at each stage of growth. Familiarity with these stages and financial instruments will help entrepreneurs prepare for the long road of financing ahead. Generally, a round of funding is a discrete securities offering, where a startup company receives cash in exchange for an equity stake in its business. It’s important to note that each round of funding is loosely tied to a startup’s stage of maturity. As a company develops a product, acquires its first customer and establishes product-market fit, it will enable the opportunity for ever-increasing rounds of funding. From seed investments to initial public offerings, each round of funding is different in both scale and purpose.

PRE - SEED STAGE

SEED STAGE

At this stage, most companies are simply one or two founders with an idea and a dream. The money from this round goes towards the founders’ earliest expenses such as company email addresses and business cards, a place to do business and the legal work required to form a company.

The most commonly discussed place to find seed stage capital is through angel investors. An angel investor is a high net worth individual who is interested in high-risk early stage investments. Most seed stage angel investors are inundated with so many messages from entrepreneurs or others that they are unlikely to follow up with you directly. To get in touch with these individuals you should look to your local professional network for personal introductions. Many cities have a number of “angel groups” that you can reach out to. These groups will screen entrepreneurs before bringing them in to present to the group. Be sure to reach out when you’re ready, as most often you’ll only get a single opportunity to impress them. Most individual angels will invest anywhere from $10k up to $50k per company. Angel groups may aggregately fund anywhere from $100k-$500k depending on the strength of the company.

“Pre-seed” money most often refers to any spending that occurs before the founders start to look for external investment. This money usually comes from the founders’ personal finances — a process commonly referred to as “bootstrapping,” or as small loans from friends and family. Generally, the conditions of the loan are determined by a handshake agreement rather than through a banker or lawyer.

Round Size: <$50k Where to look: • Personal Finances • Close Friends and Family

Seed stage investment is a startup company’s first official round of financing and usually is comprised of anywhere from $200k to $2M of investment. During this time, the company should be developing its core team, building and testing prototypes, and seeking product-market fit. At this stage of development, a business model is proposed, but as any good founder knows, is subject to change.

MINI-MAG

F IN A NCE A second source of seed stage capital is through the Small Business Innovation Research (SBIR) program and the Small Business Technology Transfer (STTR) program, both of which offer a unique form of non-dilutive funding provided to U.S.based small companies working on research and development activities. This type of funding is coordinated by the Small Business Administration and is provided in the form of a grant or contract to qualified participants. To qualify, a startup must be a small business with 500 or fewer employees. The company must be independently owned and operated and organized for profit. In addition, the company must be at least 51% owned by U.S. citizens or lawfully admitted permanent residents.

While SBIR/STTR funding comes in the form of a grant or contract, convertible debt notes are the most common financing instrument during seed stage financing. Other popular mechanisms for funding at this stage are SAFE (simple agreement for future equity) and KISS (keep it simple security).

While the qualifications for participating in the programs are uniform, there are subtle differences between each federal agency so it is important to investigate these differences before applying.

SERIES A

Generally, these programs are organized into three phases. Phase I awards fund up to $250k for six months of research to explore “the technical merit or feasibility of an idea or technology.” Phase II awards grant up to $1M for up to two years and are based on Phase I performance. These grants are meant to fund continuing development efforts and commercialization activities. Phase III grants fund ongoing commercialization activities and are only available in the SBIR program. The details of these phase grants vary by agency. To learn more about these grants you can visit SBIR.gov. Startup accelerator programs offer a third opportunity for seed stage investment. These types of programs have risen in popularity over the past decade, as accelerators such as Y Combinator and TechStars have invested in early stage companies including Airbnb, Dropbox, Reddit, Stripe, Twitch and others. The success of these companies, and their robust financial returns, have provided the funding for subsequent investments. As is common in a round of startup funding, an accelerator offers founders a small amount of money in exchange for equity. What is most unique about an accelerator is that the organization normally provides some form of mentoring and education in addition to cash investment. Many accelerator programs recruit companies from across the U.S. (or even the world) one or more times a year to form cohorts. The companies in each cohort commonly co-locate in a single city for the length of the program and then either return to their point of origin or move their company to wherever their accelerator program resides. Most companies find the networking opportunities provided by these programs to be the most valuable aspect of participation. Programs frequently culminate with a public pitch event or “demo day” to promote the companies and introduce them to other investors who can help with subsequent rounds of funding.

MINI-MAG

Round Size: <$200k - $2M Where to look: Angels: Local angel groups, your personal network SBIR/STTR: NSF, NIH, DOE, etc. Accelerator programs: Y Combinator, TechStars, Fortune 500 startups, MassChallenge

A typical startup company seeking Series A financing has committed founders as well as a tried and tested business model. Strong companies have established product-market fit through extensive customer interviews, initial sales, pre-sales or letters of intent. By now, the company has built a functioning prototype but will continue to tweak its product or service. Funds in this round are used to build out the core team, finalize product design and start to scale operations. Series A funding marks the first round of institutional investment. Depending on where your company is located or the extent of your personal network, you may be lucky enough to have access to “super angel” investors. These angels are normally ultra-high net worth individuals who are serial investors in early stage ventures. Most often located in a major startup hub such as Boston, New York City, Austin or Silicon Valley, many of these angels initially made their money as entrepreneurs but have growth their wealth through providing seed and Series A stage investments to other companies. Unlike other angel investors, early stage investing is often their primary profession. Important major differences between regular angels and super angels are accessibility and “check size.” Most super angels are not active participants in local angel groups but instead either source deals through targeted referrals or leverage a personal family office. They are often difficult to get a meeting with unless one is able to leverage a personal connection. Super angels often have the ability to write individual checks for anywhere from $250k to $500k per company. A Series A round is normally an entrepreneur’s first introduction to the world of venture capital. Venture capital (VC) firms typically raise large funds on the scale of tens to hundreds of millions of dollars from their general partners and limited partners (other high net worth individuals, family offices, endowments, foundations, fund of funds, etc.). VC firms use money from their fund to invest in high-risk startup companies. VCs fill the gap between angels who are unable or unwilling to write million-dollar checks and banks that are uncomfortable with such high-risk investments. Series A funding is most often issued as a typical exchange of cash for equity such that those participating in such a round essentially are trading money for a certain percentage of the

company. By now a startup will have established some preinvestment valuation and will issue shares of the company at a cost related to this valuation at the conclusion of the round. Round Size: $2M - $15M Where to look: Super angel investors: Peter Thiel, Sean Parker, etc. VC early stage: Sequoia Capital, Insight Partners, Accel, Tencent

SERIES B

By the time a company is exploring a Series B round, it should have some well-established customers and indicators of positive growth. Companies that have reached a Series B round will have a clear product and functioning business model. Their teams will have expanded beyond their core members and will require larger teams to expand operations. Funds in this round are used to continue to scale the product, develop a robust supply chain and to further establish the company’s product in the marketplace. To close a Series B round, startups often go back to prior investors and invite them to participate in another round before they seek additional external investment. Often each round of funding requires more and more capital. While prior investors may choose to invest more in subsequent rounds, many will not want to become over-exposed to a single investment. This means that the entrepreneur will need to look for additional VC firms interested in exchanging cash for a stake in their company. There are a number of VC firms that prefer and specialize in this stage of investment. These VCs will have the resources to write checks for millions or tens of millions of dollars. Round Size: $20M+ Where to look: VC later stage: Bain Capital Ventures, Citi Ventures

SERIES C & BEYOND

Companies that reach Series C and beyond have a growing customer base and firmly-accepted business models. They may employ tens or hundreds of individuals in highly specialized jobs and have a number of offices in different cities. Once a startup company is onto its third round of institutional funding it likely has a strong foothold in its industry with steady revenue and indicators of future growth. While companies will continue to return to their institutional investors for subsequent rounds of funding, as a company matures and has steady cash flow, new funding sources with a lesser appetite for risk, such as banks, become sources of investment. Banks often require hard assets or accounts receivable before they are willing to make a loan. While these loans are harder to get, their primary advantage is that they do not dilute the investments of other equity investors.

As a company ages, early stage investors may become anxious to convert their equity investments into cash. An investment by a private equity (PE) firm or an Initial Public offering (IPO) will allow early stage investors an exit opportunity in addition to the potential to raise additional capital. Private equity firms vary greatly in scale, financial goals and appetite for risk, but when they invest in startups they typically only seek out late-stage startups that have grown into mature companies. In most cases a company will only seek this type of investment when they are seeking an exit since many PE firms only invest in companies where they can have a controlling stake. An IPO allows company stock to be listed on a public exchange such that anyone is able to invest in a company. This event happens with the support of a large investment bank that files the required paperwork, performs a detailed audit and finances this monumental activity. While an IPO allows the company to raise additional capital, it is frequently used as an instrument to drive a liquidity event so that early stage investors and angels can more easily exchange their equity investments for cash. Round Size: $35M+ Where to look: Bank loans: Goldman Sachs, Citibank, Deutsche Bank Private equity: Blackstone, KKR, Carlyle Group, TPG IPO: NYSE, Nasdaq

CONCLUSION

While we’ve discussed a startup’s primary funding mechanisms, from company formation through exit, it is important to note that this is not the path that every startup will, or should, take. While some founders may dream of becoming the next Jeff Bezos, others are content managing a small or mid-size, financiallysustainable enterprise. Each sequential round of funding requires the founders to hand over some percentage of control in exchange for cash. The founder must decide if they are willing to make this trade-off. Is such a transaction still in line with the company values and vision? If not, founders (and associated shareholders) may choose to reinvest profits or wait for a line of credit to fund growth. A second reason many companies do not continue to fundraise is because the founders have found a comfortable exit. In many cases, this early arrangement is advantageous for both parties. For example, a founder may be more interested in inventing a new technology than in managing people. If this is the case, often they will choose to license their technology or sell their company to a larger entity at a very early stage. In such a scenario, the acquiring company pays relatively less for the tech they seek and the founder is free to move onto their next venture. As a founder, choosing the mechanism and amount of funding for your startup is never an easy task. It is vital that entrepreneurs understand each round of financing and the impact it will have on the enterprise. Founders who choose a financing path that aligns with the company’s strengths and vision will find that they create value for themselves, their employees and their customers well beyond financial returns. MINI-MAG

MAR K ET

Extreme-scale or exascale computing that is 50 to 100 times faster than the fastest systems of today is planned to be available in the 2021-2023 timeframe and will enable major advances in a broad range of fields including: the discovery of new materials, accurate prediction of severe weather events, reducing pollution, investigating new treatments for cancer, and enabling faster and more accurate engineering designs. Advancements in this area will in turn form the basis for the next generation of widely-deployed systems in data centers serving the commercial and academic sectors.

MINI-MAG

Visit Dawnbreaker Market Research

By Eliza Gough, MLS

market, the networking devices segment is expected to witness Hyperscale data centers are a growing market, and some see these as an enabling technology for exascale computing. BCC the fastest growth by providing organizations with optimum networking solutions that help them overcome the issues of Research reports that the global market for hyperscale data traditional networks that are highly static and associated with centers will grow from $39.0 billion in 2017 to $98.2 billion by 2022 with a compound annual growth rate (CAGR) of 20.3% for high operational overhead and manual intervention. Regionally, North America is estimated to have the largest market size in the period of 2017-2022. While relatively new to the mainstream 2017, owing to the presence of a large number of vendors and data center market, hyperscale data centers have long been rapid adoption of HPC solutions in this region. The Asia-Pacific used by Internet companies to manage the massive volumes of data that companies use to store information and scale up (APAC) market is expected to grow at the highest CAGR during the forecast period. The primary driving their business infrastructure. While initially forces for this growth are the increasing only serving a few, hyperscale data centers The High Performance awareness and adoption of effective and are expanding into mainstream data centers, Market (HPM) is scalable solutions in this region. Some of the led by large enterprises in financial services, expected to grow from major technology vendors in the HPC market telecommunications and retail who need $32.11B in 2017 to include AMD (US), Atos (France), AWS (US), the economies of scale and flexibility the Cisco Systems (US), Cray (US), DDN (US), technologies provide. This expansion is $44.98B by 2022 Dell (US), Fujitsu (Japan), Hitachi Vantara being driven by firms transforming their IT organizations and networks to enable their own cloud (US), HPE (US), Huawei (China), IBM (US), Inspur (China), Intel computing environments, whereas others are designing parallel (US), Lenovo (US), Microsoft (US), NEC (Japan), NetApp (US), NVIDIA (US), Oracle (US), Panasas (US), Penguin Computing (US), infrastructures to work more seamlessly with the major cloud Spectra Logic (US), Sugon (China), and Xilinx (US). providers through private cloud, public cloud or hybrid cloud models. According to BCC Research, the demand for this kind of flexible scalability is expected to grow from $21.5 billion in 2016 The Exascale Computing Project (ECP) is a collaborative effort between two U.S. Department of Energy organizationsâ€“the to $98.2 billion by 2022 at a CAGR of 20.3%. Office of Science (DOE-SC) and the National Nuclear Security According to the Markets and Markets the High Performance Administration (NNSA) focused on accelerating the delivery Computing (HPC) market is expected to grow from $32.11 of a capable exascale computing ecosystem that delivers billion in 2017 to $44.98 billion by 2022, at a CAGR of 7.0% fifty times more computational science and data analytic during the forecast period. This growth is being driven by an application power than possible with DOE HPC systems such increasing need for efficient computing, enhanced scalability, as Titan (ORNL) and Sequoia (LLNL). The ultimate goal of the and reliable storage. HPC offerings can handle large volumes of ECP is to launch a U.S. exascale ecosystem by 2021. The ECP data with ease and can extensively support higher processing annual meeting will be held in Houston, Texas from February power and speed for data analysis. This has further fueled the 3-7, 2020, and a calendar of upcoming HPC events may also demand for these solutions among end users. Within the HPC be viewed for further learning opportunities.

MINI-MAG

C O M MERCI AL I ZATI ON

Am I doing enough with

commercializatio

MINI-MAG

on?

By Jenny C. Servo, Ph.D.

Are you doing enough to commercialize your technology? That’s a great question … one that I wish everyone would ask themselves. You worked hard to develop a commercialization plan in the format required by the agency. Now that you’ve won your SBIR or STTR award, you’re totally focused on technology development. In all likelihood the commercialization plan lies dormant — especially if the firm you work for employs a handful of people. So … what should you be doing? What is enough attention to commercialization? Let’s approach this question, by examining what needs to happen when you finish your Phase II award in order to commercialize your technology. In all likelihood, technology development will be incomplete. If you developed an excellent work plan at the outset and didn’t encounter any unexpected hurdles along the way, you may finish your Phase II award at Technology Readiness Level (TRL) 6. At TRL 6 potential partners and investors begin to feel more confident with the technology’s performance and may consider becoming a source of future funding for continued test and evaluation. Test and evaluation (T&E) is required to mature the technology to TRL 9. However, technical performance is not the only factor of importance to potential partners and investors. They will want and demand confirmation of the size of the market opportunity. Although you may have engaged in customer discovery at the beginning of this process, best practice dictates that interaction with potential customers and endusers should continue as you mature your technology. So … yes, you will need to gather more information to confirm interest in the form, fit and function of your emerging product so that you can make appropriate design adjustments. As you finalize your design, be sure to protect your intellectual property in the manner most appropriate for your product. As you gather more information about the buying behavior of targeted customers, you must begin to assess production quantities. It is rare for sales to suddenly “take off.” You don’t want to over or underspend at this point—so you will need to be as realistic as possible about production quantities. Now it’s time to consider the “make-buy” decision. In other words, will you scale up to produce the product yourself or will you outsource all or part of the production to another entity? At this point, you may also opt to license out the technology to another firm that will accept responsibility for production, marketing and sales. Before you introduce your product you will need to develop a marketing plan, so that your product is not “hiding under a bushel” when released. The market needs to know about your product in advance and anticipate the introduction of your new product. Branding, press releases, spec sheets, tradeshow booths are among the items you will need. MINI-MAG

If much of this needs to be in place by the end of Phase II, what should you do now — especially with a lean staff. 1

The founder needs to lead by example and at least every two weeks should schedule a meeting to discuss commercialization tasks that he or she has undertaken and/or assigned to other members of the team.

Advanced technologies have a voracious appetite for money — so a fundamentally important task is to evaluate different sources of potential funding. This is not an academic task. One should visit the SBA office in their area to learn about loans; attend local meetings hosted by business angel networks; talk with banks about lines of credit; meet with other successful entrepreneurs in your area to discuss their experiences with investment and licensing; learn about other opportunities to secure local, state or federal funding; as well as opportunities for test and evaluation. This is not accomplished all at one time, but over an extended period–frequently a year or more. These are data gathering and relationship-building activities — both of which are vitally important.

If you are working with a mission agency such as the Department of Defense or the National Aeronautics and Space Administration learn as much as you can about those programs that require your product/technology. Examine the federal budgets for procurement and ask questions so that you understand when new technologies will be required. Look for opportunities to network within the agencies and their prime contractors.

Develop a relationship with your local representatives so that they can become a champion for the work you are doing within their district.

Concerning continued customer feedback, select a couple of key conferences or tradeshows that you can attend during the year to network and gather more information. If you don’t have the funds to attend a conference, see if there are local chapters of relevant associations in your area. Ask if you can attend a meeting and perhaps use that as an opportunity to gather feedback on your technology/product.

Learn as much as you can about the dynamics of the market niche you will be entering. Understand how the supply chain works and where you will fit in. Learn about your competitors and strengthen your value proposition.

Enhance your website and develop marketing materials. Learn more about distributors and sales representatives. Discover what kind of customer support your competitors are providing and determine how you will handle that.

Meet with your local Manufacturing Extension Program (MEP) and begin to ask questions about production and the assistance they can provide. Meet with local manufacturers to ask questions and develop relationships.

Just like your research, commercialization activities will demand your attention and require your time. Therefore, to be well prepared for commercialization, start these activities early in Phase II and begin to weave commercialization into your culture. No matter how small the activity you undertake, consistent attention to any of these commercialization elements will yield benefits. Bi-weekly meetings during Phase II to discuss the results of your commercialization networking and fact-finding will yield tremendous benefit by making commercialization a part of your culture, rather than having it be an afterthought. Throughout Phase II, networking will be of primary importance — shifting your understanding of commercialization from an academic exercise to a practice that will help you execute strategic decisions. Other activities to weave into your bi-weekly discussions are outlined in the accompanying figure. So, we come back to the initial question: Are you doing enough to commercialize your product? If a month or a quarter goes by and you have not had a single discussion within your team about commercialization of your Phase II SBIR/STTR technology — then, “No, you are NOT doing enough.” However, if you establish the habit of discussing commercialization issues every two weeks and focus on the types of activities outlined here — you are on the right track.

Figure 1: Suggested Commercialization Tasks During Phase II 10

MINI-MAG

Visit Dawnbreaker TABA

Arkansas

D IVER SIT Y

an under-represented state

CURRENT ECONOMY

QUICK FACTS

1,363,167

3.4%

Jobs

Unemployment Rate

1st

Approximately in Total Population

North America “Diamond Rush” in

$45,869

Median Household Income– 3.5% Growth

Est.

1805

1906

18.1%

Poverty Rate

60,000+

Acres of Lakes

9,700

River & Stream Miles

Did You Know?

Top 5 Industries in Arkansas: Which Parts of the Economy are Strongest? By Scott Hinderer

The top five industries in Arkansas are a diverse mix of traditional sectors of the economy and new technologies. While manufacturing is a key part of Arkansas’ economy in a broad sense, reportedly employing up to 13 percent of its workforce, there are specific manufacturing sectors that make up some of the top industries in Arkansas and lead the nation. 1 According to the Farm Bureau, agriculture is still the top industry in Arkansas, and was credited with “adding around $16 billion to the state’s economy annually.” While cotton was once king among Arkansas’ crops, rice is Arkansas’ largest agricultural export currently, producing about half of all rice in the U.S. 2 Given its central location within the United States, it’s no surprise that transportation and logistics figure prominently in Arkansas’ economy, which is home to some of the Nation’s most trusted names in shipping. According to the Arkansas Economic Development Commission (EDC), “more than 85,000 Arkansans are employed at more than 80 distribution centers and 22 major trucking companies in the state.” The EDC also claims that a fifth of Arkansas’ employers are connected to the transport of goods.

In addition, the manufacture of transportation equipment added another 12,000 jobs to the Arkansas economy. 3 Alongside Arkansas’ massive agriculture industry, food manufacturing goes beyond the sourcing of agricultural products to include the processing and packaging. The EDC reported that “nearly 50,000 people are employed in the food manufacturing industry in Arkansas,” which, according to Arkansas Department of Workforce Services, accounted for nearly a third of all manufacturing jobs in the state. 4 Because of a heavily forested landscape, the production of paper and timber products is a top industry in Arkansas. The EDC reported nearly 25,000 people were employed in Arkansas’ forestry industry, which produces the fourth-largest amount of timber in the Nation. 5 Perhaps unexpectedly, the No.1 export in Arkansas is aerospace, which added $1.8 billion and 10,000 jobs to the economy, according to Arkansas Aerospace & Defense Alliance. The aerospace industry in Arkansas also included industry leaders in rocket and defense systems. MINI-MAG

TECH TR ANSFER

HAS YOUR ORGANIZATIONâ€™S

Invention Machine Stalled? By Martin Oehlbeck, CLP, PMP

MINI-MAG

Visit Dawnbreaker Tech Transfer

nhappy with the lack of inventions coming out of your R&D expenditures? If so, deciding what to do next can be a complex issue. Depending on the importance of inventions driving current and future business, restarting the Invention Machine can be table stakes for many organizations and/or careers. Restarting the Invention Machine within your organization can involve numerous challenges. We’ll explore a few popular choices for creating positive change. Imagine a new R&D leader coming into a role where the organization inventive pipeline has dried up. A leadership mandate is that he/she expects at least one inventive idea per: [group, employee, project, $1 million spend, etc.] can re-start inventive reporting. This is useful, even if it is just to remind people about the reporting process and to provide a refresher on how to execute the steps required. It isn’t necessarily tied to great inventions as people will tend to report anything/everything to stay off the radar. The new mandate might strike fear. However, fear is not a long-term solution, but rather a way to prime the pump for a restart. Motivation is the key to sustainable success to keep the Invention Machine churning. People inherently are happier when they are contributing, so it is important to develop a culture where they can contribute easily and then see the positive impact on them personally. Ask yourself:

• • •

Does your organization push technology boundaries? Do you “punish” risk takers when they aren’t successful? Do you celebrate success? What other aspects of your organization either impede or positively contribute to a culture where inventive attitudes flourish?

Imagine the shift in perspectives when that same new R&D leader shifts from “I expect new ideas from everyone,” to “I will tangibly reward people who contribute inventions.” This could take many forms including performance appraisals, promotions, recognition, restricted stock grants, etc.

Other aspects of the culture change should be aimed at making the reporting process less cumbersome. Consider the following: • Do you have a defined process? • Is it simple and flexible? • Have employees been trained? If you said “no” to any of these, it will be more difficult to achieve motivation goals. Motivation can also be influenced by recognition and/or reward programs. Organizations that pride themselves on the number of annual patents (IBM is one example) give a great deal of weight to financial rewards for patented inventions. Recognition programs structured with some financial and other nonfinancial rewards are also prevalent throughout most industries. A well-thought-out program usually recognizes new inventors and frequent contributors differently to provide proper stimulus for continued motivation. Often the status quo is in the way of progress. Complacency, lack of time or direction, or a desire not to perturb the troops can inhibit change. However, done properly change will improve morale (along with getting the Invention Machine supercharged). Albert Einstein once said, “No problem can be solved from the same state of consciousness that created it.” The Dawnbreaker team can help organizations struggling with these issues by providing a fresh and objective perspective. We have a datadriven process to identify critical change drivers that will be most effective within an organization. Contact us to kick off a discussion on jumpstarting your Invention Machine!

SPANISH PODCAST SERIES

Buscando cientĂficos e ingenieros innovadores Dawnbreaker aims to extend the reach of the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) program to include more entrepreneurs from advanced technology firms in the Latino community â€” one podcast at a time.

Podcasts An Introduction to the Small Business Innovation Research (SBIR) program and the Small Business Technology Transfer (STTR) program Am I eligible to participate in the Small Business Innovation Research (SBIR) program? How does one apply to the SBIR program? What are the odds of winning an SBIR/STTR award?

MINI-MAG