Program Description
The Small Business Research Loans support applied research projects critical to the development of technologies marked for commercialization.
The program is similar in spirit and scope to the federal Small Business Innovation Research Phase I grant program. The Small Business Research Loan is available to North Carolina companies developing biotechnology-related products, processes and services.
A candidate research project should have clear business significance and be conceived so as to provide the company with data to guide its next technology development decision. It is expected that the company will ultimately secure other forms of support for the continued development and commercialization of projects initiated with Biotechnology Center resources.
Support
A company may request up to $350,000 to support research activities lasting up to 12 months. These funds may be applied to the direct costs associated with research that advances a biotechnology toward commercialization.
Due to legal constraints, funds provided under the SRL Program cannot be used for certain purposes. Prohibited charges include (but are not limited to):
- Purchase or lease of real estate, building construction or renovations;
- Salary for administrative personnel (for entrepreneurs serving in both administrative and research capacities, salary funds may be requested for the portion of time the individual actually devotes to technical and research-related activities);
- Overhead or indirect costs;
- Patenting costs;
- Subcontracts in excess of $500 for personnel, facilities, equipment or services located outside North Carolina unless approved in advance, in writing, by the Biotechnology Center staff.
Additionally, basic (academic) research aimed primarily at discovering new scientific information is not eligible for Small Business Research Loan program support. Likewise, product marketing or production activities are also ineligible for program support.
Fifty percent of the loan amount will be distributed following loan approval by the Executive Committee. An additional 40 percent will be released upon receipt and approval of a mid-term project report. The final 10 percent will be distributed upon receipt of a final project report.
Contact
Contact Shobha Parthasarathi at (919) 541-9366 or shobha_parthasarathi@ncbiotech.org with questions regarding this program or to schedule a preliminary meeting.