This Business News Story Was Uncovered By Us From: http://www.youngupstarts.com/2019/08/03/accepting-a-non-dilutive-government-grant-5-surprising-mistakes-to-avoid/
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Non-dilutive grants are a great way to fund your research, provided you’re working on a project that directly benefits the government according to current needs. Many companies pursue non-dilutive government grants because they don’t require giving away ownership in the company.
According to Upcounsel, typical non-dilutive grants include research grants, translational grants, and SBIR/STTR program contracts. The largest grants are about $150,000 for a phase I award and can reach $1 million for a Phase II award.
Are you pursuing a non-dilutive government grant or contract? If so, you’re pursuing funds from a reliable source. However, be aware of the following mistakes that could cost you the contract:
1. Not meeting contract deliverables.
As the recipient of a grant, you’re required to meet certain deliverables. Not meeting your deliverables can result in a canceled contract. For example, eCivis describes three scenarios where grant recipients’ contracts were canceled. The first grant was revoked because the recipients of school supplies did not meet the requirements set forth in the grant terms. The second recipient was required to show proof of a 20-year lease, but only had 13 years left. The third grant was canceled when staff failed to close ten or more cases per month per contract deliverables.
Before accepting a contract, make sure you’re able and willing to meet all of your deliverables. Grant money is not free money – it’s conditional. The government isn’t lenient when it comes to enforcing contracts, so make sure you can meet all requirements before agreeing to the terms.
2. Erasing rather than crossing out, rewriting, and initialing changes.
It sounds trivial, but all timesheet changes must be crossed out and … Read More
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