Dan Loney (center), host of Knowledge@Wharton Sirius XM 111 was joined this morning by Nate Tibbits, Senior Vice President of Government Affairs at Qualcomm and Natalia Olson-Urtecho, Regional Administrator – Mid-Atlantic Region of the US Small Business Administration (SBA) to discuss SBA grants and programs that help nascent technology businesses commercialize disruptive technologies and grow into global leaders like Qualcomm, in a program arranged by Wharton Small Business Development Center.
Natalia explained that the SBIR/STTR (Small Business Innovation Research/Small Business Technology Transfer) program, managed by SBA, provides grants of $150,000 to over $1.5 million to help small businesses with disruptive technologies commercialize their technologies: the first step in creating jobs and making it very big.
Nate noted that Qualcomm is one of many global businesses whose successes today are rooted in early SBIR/STTR grants. During the first five years after Qualcomm was founded in 1985, the company received $1.5 million in SBIR grants that were critical to enabling the seven scientists who started Qualcomm in a living room to develop and commercialize their technology to improve connectivity. Now Qualcomm has more than 30,000 employees world-wide and a market capitalization of more than $113 billion.
To learn more about the program, go to www.SBA.gov and/or your local Small Business Development Center (SBDC).
SiriusXM subscribers can listen to the segment until June 10 on SiriusXM On Demand.