I remember looking into and applying for SBIRs many years ago. My comments reflect the programs as last I interacted with them, so they may be dated in underst

I remember looking into and applying for SBIRs many years ago. My comments reflect the programs as last I interacted with them, so they may be dated in understanding. There are many issues, not the least of which are the very long lead times. From submission to decision/notifications can be 6+ months. Another issue is the Phase I/II gap. Sure, you can get more money, but there is another (at least) 6 month interval for that. And there is no guarantee that you will get the Phase II. You have to show very specific positive forward motion in Phase I to get Phase II. And Phase III, commercialization, is similar in that you need to show a nascent market. Back when I was looking into and applying for these, the VCs I spoke with suggested that they were a signal, albeit not a strong signal, that there was "something there". Not enough on its own to pull them off the couch to write a check, but enough to keep them interested if others did. This said, having participated in my fair share of government sponsored small business innovation programs, and seeing the most politically connected applicants get funded for fairly poor ideas, I'm kind of jaded about these programs. As bad as they are VCs have the right incentive (profit) albeit in the wrong structure IMO, to invest. The government is all about box checking to show their effectiveness.