In this episode, Dr. Robert Griffin, Professor of Radiation Oncology at UAMS and Vice President for Small Business Concerns and Faculty Affairs at BioVentures, discusses strategies for securing funding for small businesses, the importance of research commercialization, and the role of non-dilutive funding. Non-dilutive funding, which includes grants and select angel investments, enables early-stage businesses to grow without surrendering ownership or equity—an essential factor for protecting the inventor's interests and technology.

Dr. Griffin highlights the necessity of commercializing research, as universities do not market or sell products, and non-dilutive funding provides a crucial bridge to transition discoveries to market applications. He explains the differences between SBIR (Small Business Innovation Research) and STTR (Small Business Technology Transfer) funding, and how in order to qualify for small business funding, researchers must either partner with existing companies or establish their own (with BioVentures offering support throughout the process). Dr. Griffin advises that proposals should be focused and realistic, emphasizing that Phase 1 SBIR funding is about proving core concepts, while Phase 2 is for scaling and further development. Ultimately, he underscores the importance of strategic planning, understanding funding mechanisms, and forming strong industry partnerships for successful commercialization.