NIH SBIR Conference Cleveland Medical Devices Inc Cleveland
NIH SBIR Conference Cleveland Medical Devices Inc. Cleveland, OH July 13, 2006 Robert N. Schmidt, Chairman Rschmidt@Cleve. Med. com 216 -619 -5925 4415 Euclid Ave. , Suite 400 Cleveland, OH 44106
Cleveland Medical Devices Inc. • Founded in December, 1990 • Use the Thomas Edison Model, Invention Factory • Stock owned by employees • 2006 Sales ~$ 5. 3 Million, Profitable • Awards • Inc. 500, 2000, 812% five year growth • Inc. Inner City 100, 2000 (34), 2001 (15), 2002 (27) • Weatherhead 100, (NE Ohio), 1999, 2000/01/03/04/05 • Ohio Emerging Technology Award • SBA Tibbetts Award, Best SBIR Technologies/Companies • NIH Success Story (NIH Website) NIH SBIR Conference, Proposal Preparation July 13, 2006
Are you sure you want to start a company? Here are my SBIR Company Rules. 1. Never quit a good job to start a company. 2. This is the best way to loose your house. 3. If you are lucky and don’t go bankrupt, be prepared to starve for 5 -10 years. 4. It takes 7 -10 years and 10 million dollars to make a medical device product. Lots more if it is a drug. 5. If you have an engineering prototype (form, fit and function), then you may be as much as 5% of the way to commercialization. NIH SBIR Conference, Proposal Preparation July 13, 2006
If this is your first SBIR proposal 1. Set aside at least 400 hours for the proposal. [Once you are a pro, you can get it down to 200 hours. ] 2. Start at least 2 months, preferably 3 months, before the proposal is due. 3. Get your team together, you do not have enough knowledge to do this by yourself. NIH SBIR Conference, Proposal Preparation July 13, 2006
Proposal Preparation 1. 2. Review the potential topics you may want to address. Select Preliminary Idea. IN BROAD TERMS, define the problem, your company’s solution, and the research needed to achieve this solution. 3. Discuss with the NIH Program Manager 4. Finalize which topic(s) you will bid [at least two months before the proposals are due. ] 5. Select Primary Author and Assemble a team to organize proposal preparation process. 6. Obtain References 7. Discuss with Potential Consultants 8. Finalize Idea NIH SBIR Conference, Proposal Preparation July 13, 2006
Proposal Preparation (Continued) 9. • • • Sketch Figure 1 Drawing of your proposed concept Show details that are important Features (What do you have, both what others have, and what is new! Show all functional details, novel features, and critical components. ) Benefits (Why should anyone care!) Full page or half page? Completed a month before the proposal is due. Remember, this is worth a thousand words It is the most important thing you can do in your proposal! NIH SBIR Conference, Proposal Preparation July 13, 2006
Proposal Preparation (Continued) 10. Finalize Consultants and Review Idea and Fig. 1 with Consultants 11. Obtain Resume (NIH Bio. Sketch) and Background papers from consultants 12. Discuss preliminary Statement of Work (SOW) and preliminary cost with consultants 13. Prepare Tables and Figures 14. Go, No Go Decision with Management If you don’t have a good concept and SOW, cut your losses short – quit now at least three weeks before the proposal is due! NIH SBIR Conference, Proposal Preparation July 13, 2006
Proposal Preparation (Continued) 15. Prepare written SOW for Consultants 16. Prepare Table of Contents with Assignments for Sections – this should be at the ¼ page level - every page should be planned out, what will it say, and who will write it 17. Obtain equipment/facilities & comments on SOW from Consultants 18. Prepare first draft of proposal for review – 15 days before your proposal is due. [Don’t – Don’t write your first words until your tables and figures are finished. ] If your consultants aren’t interested now, it will never get any better! Switch consultants now or quit altogether. NIH SBIR Conference, Proposal Preparation July 13, 2006
Proposal Preparation (Continued) 19. Obtain Letter of Support and final cost proposal with consultants 20. Management to complete cost proposal 21. 2 nd draft of proposal – 10 days before the proposal is due. This draft should be pretty good. NIH SBIR Conference, Proposal Preparation July 13, 2006
Proposal Preparation (Continued) 22. In-house review by non-author appropriate by consultant(s) and where 23. Final draft 24. Proof Read and incorporate proof readers comments – Note: the author must not be the proof reader!! 25. Submit Electronically Have you answered the mail? Did you go through and answer each and every requirement of the FOA? NIH SBIR Conference, Proposal Preparation July 13, 2006
Summary 1. Never quit a good job to start an SBIR company. 2. Start your proposals 2 -3 months in advance and budget at least 400 hours. 3. In the proposal, answer the mail! 4. Network! Join local/regional organizations to keep updated on SBIR/STTR news NIH SBIR Conference, Proposal Preparation July 13, 2006
NIH SBIR Conference Cleveland Medical Devices Inc. Cleveland, OH July 13, 2006 Robert N. Schmidt, CEO Rschmidt@Cleve. Med. com 216 -619 -5925 4415 Euclid Ave. , Suite 400 Cleveland, OH 44106 Questions ?
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