Tag Archives: Small business

How to Get a Federal Grant for Your Medical Device Startup

What is the best way to get a federal grant for your medical device startup?  Considering that the success rate for companies seeking federal loans hovers only between 11 and 15 percent according to Bhramara Tirupati, of BBCetc, an Ann Arbor, Michigan-based business consulting group, it is best to do everything you can in order to get one of these loans.  She shared these four tips with Brandon Glenn from MedCity News for startups looking to acquire the elusive federal funding: Determine if you’re eligible.  SBIR and STTR grants are open to for-profit companies with fewer than 500 employees that have a U.S. location. Follow the money.  Eleven different government agencies issue SBIR and STTR grants. Think of each one of those 11 as a separate program, as each has...

The Medical Device Industry in Memphis is Moving Mountains

According to the Greater Memphis Chamber more than 70,000 people work in the life science industry in the Memphis area.  However, most of the local residents aren’t even aware of the bounty of technical jobs that exist there.  Some in the industry are hoping to change that.  “Many of the students don't necessarily know what kinds of careers are ahead for them if they focus on math and science in middle and high school”, said the Memphis Academy of Science and Engineering’s executive director, Harold Wingood.  But its mentoring program with Memphis medical device maker Smith & Nephew is helping to light the way. “It's not just engineers that make the bioscience sector move,” said Gibson "Sunny" Morris with the Mid-South Community College's Arkansas Delta Training & Education Consortium.  "You can...

Big Ideas Winner Starts Her Own Company

As Big Ideas rolls around again this year, we thought we would update you on some of the winners from last year.  Jennifer Blankenship, our second place winner, was inspired to start her own company.  Here is an excerpt from her marketing flyer: “In the competitive market of rural nonprofit social services and nonprofits engaging in effective development, grant writing, and program delivering can be exhausting.  MAE is here to help!  We can deliver the FAMILY EFFECTIVENESS TRAINING program, GED tutoring, and Self-sufficiency skills building (including employability skills building) that your clients need.  For help with time consuming development projects we are able to offer proven and experienced contracting to get the job done and bring in the dollars to keep your great programs on track.” When asked...

Who Are Your Competitors and How do You Protect Your Ideas From Them?- The Final Steps to Building The Business Case

This is the final installment of our Building The Business Case series.  We have been looking at the questions entrepreneurs need to ask themselves in order to Build a Business Case. What are the competitive products / technologies / services currently available?: It’s not enough to just design a great product; you also need to be aware of what other products are out there.  Take the time to do the research to see what other people are already offering.  Sure, the new shampoo you developed smells great and makes your hair soft, but were you aware that there are also 500+ other brands of shampoo out there that do the same thing? Why is your product / technology / service better than competitive products?: Once you discover what the other products are,...