CPA & Business Advisory Blog

Applying for Biomedical Grants is Like Searching for a Job

Funding for biomedical projects, like jobs, is tough to find in a down economy, but the federal government is an often untapped resource. In FY08 and FY09, Congress directed over $150 million dollars for medical research on various topics from prevention of combat-induced injuries to physiological health to cancer. In FY10, Congress has earmarked millions of dollars for various research topics, with breast cancer ($300 million) and prostate cancer ($160 million) as the highest funded. When applying for a federal grant, consider the following key tips from your job-searching days:

 

  • Understand your project and the grant that you're applying for. Focus on grants in research categories your project fits into. Before submitting your white paper, read the grant's specific requirements. Your success depends on how closely your project matches the grant's specific requirements.
  • Write a targeted white paper.  Your white paper should illustrate how your project specifically satisfies the needs of the grant. Also, it's not the top federal experts in your field of science that is reading your submission – it's their staff, so excessive use of scientific language is not necessary.
  • Be persistent. Currently grants may not fit your project, but consistently search for new grant announcements, because federal grant initiatives change from year to year and may eventually be requesting your company's specific technology or product. 

 

If you'd like help identifying grants that fit your project or learn more about applying for grants, please leave a comment or contact our Biotech Group at (440) 449-6800.

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