Small Business Innovation Research Program Provides Seed Funding for R&D
Hinetics has been awarded a National Science Foundation (NSF) Small Business Innovation Research (SBIR) grant for $219,444.00 to conduct research and development (R&D) work on actively shielded generators for large wind turbines.
Wind energy is the fastest growing clean energy solution in world. Hinetics’ fundamental research in superconducting machines will enable turbines of much larger power rating than currently in practice. These revolutionary compact and high-efficiency turbines should increase the adoption of offshore wind energy to lessen our dependency on fossil fuels and promote a cleaner environment.
“The National Science Foundation supports small businesses with the most innovative, cutting-edge ideas that have the potential to become great commercial successes and make huge societal impacts,” said Barry Johnson, Director of the NSF’s Division of Industrial Innovation and Partnerships. “We hope that this seed funding will spark solutions to some of the most important challenges of our time across all areas of science and technology.”
“This NSF grant enables us to investigate promising superconducting technology with the potential for game-changing performance with a 10X increase in power density. We are excited to have this opportunity and look forward to making a positive impact on the world.” said Andy Yoon, Principal Electrical Engineer at Hinetics and Principal Investigator for this SBIR grant.
Once a small business is awarded a Phase I SBIR/STTR grant (up to $225,000), it becomes eligible to apply for a Phase II grant (up to $750,000). Small businesses with Phase II grants are eligible to receive up to $500,000 in additional matching funds with qualifying third-party investment or sales.
NSF accepts Phase I proposals from small businesses twice annually in June and December. Small businesses with innovative science and technology solutions, and commercial potential are encouraged to apply. All proposals submitted to the NSF SBIR/STTR program undergo a rigorous merit-based review process.
To learn more about America’s Seed Fund powered by NSF, visit: https://seedfund.nsf.gov/
About the National Science Foundation’s Small Business Programs: America’s Seed Fund powered by NSF awards $200 million annually to startups and small businesses, transforming scientific discovery into products and services with commercial and societal impact. Startups working across almost all areas of science and technology can receive up to $1.5 million in non-dilutive funds to support research and development (R&D), helping de-risk technology for commercial success. America’s Seed Fund is congressionally mandated through the Small Business Innovation Research (SBIR) program. The NSF is an independent federal agency with a budget of about $7.8 billion that supports fundamental research and education across all fields of science and engineering.