The National Institutes of Health (NIH), has $40 million per year available for health IT grants, according to Victor Prikhodko, MBA business development, at the recent U.S. Health and Human Services opioid code-a-thon in Washington, D.C. Through the “$100,000 for Start a SUD Startup,” a government “Challenges” program, NIH plans to award 10 winners.
According to DrugAbuse.gov, “the Challenge goal is to support research ideas that further an understanding of neurobiology as it relates to substance use disorders (SUD) and that are intended to be the basis for the development of a new and potentially successful start-up.”
NIH is focusing on health technology, funding startups to get products to the marketplace and in the hands of state and local government. The government does not take equity, and also provides robust mentoring through its funding programs. There is more than $400M of non-dilute equity capital available over the next 10 years, according to Prikhodko.
For the Start a SUD Startup Challenge, winners will receive business mentoring from industry experts working with the National Institute on Drug Abuse (NIDA) in LEAN product development, along with a six-week course.
Applications include a four-page proposal and a YouTube video, are due December 22, 2017. Winners will be announced February 7, 2018.
SUD Startups Can Pursue Additional Health IT Grants
The contest enables scientists and developers to foster a biotech startup, and create startups that can successfully compete for additional funding through NIDA’s Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) funding. NIDA’s small business program has an eight-step application process, which provides funding over three phases. Applications are due January 5, April 5 and September 5, 2018.