Episode Notes
Early-stage businesses and growing an existing business require capital infusions at different stages of its growth. Hunting for money goes something like this once a somewhat final draft of our business plans is written. We reprioritize our monies and check with friends and family to check what financial resources might be available. We talk with bankers and look for loan opportunities, potential financial investment angels, and venture capital options. Credit card maximums are re-evaluated. We stretch our financial resources as far as possible and hunt for other resources to get our new products and services into the marketplace.
Government resources are also available. Did you know $100B per year is invested in contracts and grants for research and development of new technologies? To demystify our government funding ecosystem, I turned to a 30+ year treasured innovator in Minnesota’s science and technology, investment, and commercialization arena, Pat Dillon.
Pat Dillon shares one of the largest sources of early-stage capital for technology commercialization in the United States that our tax dollars fund. It is known as America’s Seed Fund. Each state has grants and other funding resources that support a diverse portfolio of early-stage and existing businesses. A capital ecosystem you want to make sure you know about, no matter what industry or creative type of business you are in. There are many ways to get grant monies to support your work.
Pat Dillon, MBA, is the founder and director of Minnesota’s Small Business Innovation Research and the Small Business Technology Transfer Accelerator – known as Minnesota SBIR/STTR Accelerator. Each state has SBIR/STTR programs. We are focusing on Minnesota’s SBIR/STTR Accelerator programs because, obviously, I am here, but once you know the funding history and how these programs work, you can check them out in the state where your business is registered.
Pat has 30+ years of demonstrated knowledge, experience, and relationships that allow hundreds of businesses to apply and win funding. Since 1994, she has facilitated $250M in SBIR/STTR Accelerator funding, resulting in additional investments, patents, jobs, mergers and acquisitions, and new products and services for global markets. She works with 100 start-ups and existing businesses per year as they transform their high-risk, high-impact technologies into marketable products and services. SBA_SBIR_Overview
Other meaningful aspects of our conversation include:
- Two prior Guest Mentors have participated in the SBIR/STTR Accelerator programs and have won awards.
- Allison Hubel, Ph.D., CSO, BlueCube Bio Founder, and Karen Dodson, President
- Co-Founders of HabitAware: Aneela Idnani (Kumar) and Sameer Kumar
- Pat’s two operating values.
- Servant Leadership and what it means to Pat.
- Pat is a retired United States Navy Commander who served 40 years with one 10-month tour in Afghanistan supporting Operation Enduring Freedom. (Thank you for your service!)
- We discuss her Intelligence Officer role and insights into the 2021 collapse of the Afghanistan government, which is now run by Taliban leaders.
- The process of how federal funding gets into states’ hands, in particular, Minnesota companies.
- The history of Congress’ support and nine years of non-support of MN Project Innovation; and the history of the Small Business Innovation Research and the Small Business Technology Transfer Accelerator programs (SBIR/STTR) from the 1990s to now.
- We need to make sure SBIR/STTR continues to get federal support and funding. This funding is not to be taken for granted. It is crucial to our economic development infrastructure that our government invests in the SBIR/STTR Accelerator programs every year.
Thank you, Pat, for your 40 years of service in the Navy and 30+ years of government service in facilitating and educating thousands of emerging and existing high-risk, high-impact technology firms to get their products and services into the marketplace. Without you, Minnesota’s innovation community would not be as vibrant, educated, and well funded. Hear Pat’s journey and how SBIR/STTR programs can help you. DOWNLOAD
NEXT STEP: Challenge yourself and do the Conscious Attentive Leadership Mentoring (C.A.L.M.) Activities, below.
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Episode Resources
Conscious Attentive Leadership Mentoring
After listening, do these three C.A.L.M. Activities:
- Take this risk or do this adventurous task: Learn more about the SBA Office of Innovation and Technology and the opportunities available for you and your company.
- Apply Self-Compassion: Take an energetic meditative walk around your neighborhood and let what you have learned settle. Observe the energy within and all around you. The changes in smell as you walk past each place underfoot. The energy in the wind and trees and budding leaves. The energy within the sounds of your neighborhood. The invisible energy around your hands and the current running through you. Breathe in each moment, letting your observations expand to notice the vastness of the sky. Take a moment to marvel at how we are connected energetically to everything. Return from your walk with a renewed mindset.
- Welcome Appreciation: “I appreciate Pat’s 40 years of service in the Navy and her 30+ years of service to building Minnesota’s science and technology, investment, and commercialization arenas through Minnesota’s Small Business Innovation Research and the Small Business Technology Transfer Accelerator programs. I am grateful for her passion for working with innovators and facilitating their ability to get funding. Working with 100 start-ups and existing small businesses per year in getting funding for their high-risk and high-impact technologies is critical to our innovation ecosystem. I appreciate Pat’s openness and wisdom.”
Your Turn. Start with, “I appreciate what I heard from today’s Guest Mentor, Pat Dillon. I appreciate this week’s adventurous task because….”
“Most of the problems in our lives and world are caused by relational dysfunction, a dysfunction in how we relate: as social groups, as individuals, to animals and the environment, and even to ourselves. Therefore, developing relational literacy—the understanding of and ability to practice healthy ways of relating—is essential for personal, social, and ecological transformation.” —Melanie Joy, psychologist, author, theorist, educator
When WeMentor… your life becomes more meaningful!!! Redefine how you lead and mentor while redesigning your business. Dual Innovation with Mentoring WORKS.
Podcast Guest Mentor
Pat Dillon, MBA, is a treasured innovator in Minnesota’s science and technology, investment, and commercialization arena. She is the founder and director of Minnesota’s Small Business Innovation Research and the Small Business Technology Transfer Accelerator – known as Minnesota SBIR/STTR Accelerator.
The Minnesota SBIR/STTR Accelerator helps a diverse portfolio of start-ups and existing small businesses transform their high-risk, high-impact technologies into marketable products and services. Through education, coaching, and navigating across 11 federal agencies, Pat and her team help small businesses to apply for and secure SBIR/STTR Accelerator funding. These programs are referred to as America’s Seed Fund, one of the largest sources of early-stage capital for technology commercialization in the United States. Taxpayers’ investments in small innovative businesses have supported SBIR/STTR funding since 1982.
Pat has 30+ years of demonstrated knowledge, experience, and relationships that allow hundreds of businesses to apply and win funding. Since 1994, Pat has facilitated $250M in SBIR/STTR Accelerator funding, resulting in additional investments, patents, jobs, mergers and acquisitions, and new products and services for global markets.
Pat is a recipient of the prestigious Small Business Administration Tibbetts Award for excellence in the programs. Pat chairs the Technological Leadership Institute Advisory Board at the University of Minnesota. She is a retired United States Navy Commander who served 40 years with one 10-month tour in Afghanistan supporting Operation Enduring Freedom. Pat earned her undergraduate and graduate degrees from Winona State University, Minnesota.
“Pat Dillon and MNSBIR are incredible assets to the Minnesota tech and start-up community. Nothing can prepare you for putting together an entire grant package and actually submitting it. Pat took the time to read through the entirety of our proposal (letters of support, budget, and justification, 15-page grant, everything!), leaving no stone unturned. Without Minnesota state funding for a program like this and Pat as a passionate professional to help us, we surely would have had a tougher time preparing and winning our NSF SBIR Phase I award of $256K with the potential for $1M+ in Phase II.” Wesley A. Wierson, Ph.D., CEO, LEAH Labs (they develop cancer treatments for dogs
Episode 321: Pat Dillon Demystifies Federal Funding Available to Start-ups and Existing Businesses, Part I
Author: Nancy A. Meyer, M.A.
Nancy A. Meyer, M.A., is a seasoned entrepreneurial leader, business and life mentor/coach/teacher, podcaster, author, and certified mindfulness yoga and meditation integrator (she integrates those skill sets into everything). Nancy’s compassionate and collaborative approach reinforces resilience while maintaining accountable conversations supporting how you redefine your lead while redesigning your business. Nancy calls this “Dual Innovation Leadership.” Nancy founded WeMentor, inc. in 1992 to change the leadership in our country by providing emerging and existing business owners with mentoring in Dual Innovation Leadership. She has mentored thousands and is eager to work with you! Assert self-leadership and get started today! Clients say, “Nancy is a compelling, engaging, and ‘decipher the trees from the forest’ kind of mentor, speaker, and leader. A dedicated entrepreneurial leader and mentor who role models what she preaches. Her style and candor enrich the content she delivers and the results clients experience.” Nancy accepts people where they are while inspiring them to breakthrough into new dimensions: As an Entrepreneurial Leader (Innovator), As a Competent Business Owner (Practitioner) As a Mentor (Role Model) As a Spiritual Being and Self-Leadership Master! Start by subscribing to WeMentor Mondays with Nancy PODCAST. Join your peers and...
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