About Public Grants for Invention Ideas
At some point in life, almost everyone thinks they have a brilliant idea or concept that will transform the world for the better and make them a truckload of money. Most life-altering invention ideas never make it past the discussion phase but for those who are serious about getting their product or idea to market, the first hurdle they face is funding for patent searches, prototype development and patent lawyer fees.
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Public Grants for Inventions
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The wheel--one of the earliest great inventions. The only inventions currently eligible for public grants are those related to reducing energy consumption. They are offered through Inventions and Innovation (I&I), part of the U.S. Department of Energy's Industrial Technologies Program (ITP), established in 1976.
Private Grants for Inventions
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Privately funded grants are occasionally offered by specific industries and philanthropic groups. Finding funds for non-energy related inventions is difficult and most easily found through contacting manufacturers and special interest groups related to the type of invention. For instance, if the invention were related to educational toys, the USA Toy Library Association would be a good place to start gathering information and contacts. Performing a web search using the key words describing your invention will yield information on organizations and groups that can help in finding appropriate funding sources.
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Applying for Public Grants
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The first step is to register with I&I and become part of its database. This will guarantee notification of upcoming funding and how to apply. It is also advisable to regularly check its website to keep abreast of grant and funding news. When a funding announcement meets the criteria of your invention, develop a proposal per the website guidelines. Submit the proposal online through the DOE's IIPS (Industry Procurement System).
How the I&I System Works
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I&I solicits grant proposals one or two times each year, depending on available funds. Individuals, small businesses, engineers, scientists, etc. submit around 500 proposals of which only 20 to 30 will receive grant money. One category gives money for sound idea development; the other provides funding for working prototypes to be developed.
If your invention is awarded grant money, I&I also assists in industry networking and creating a business plan to market the invention. Additional funding is sometimes available to finance market and strategic analysis. I&I stays with the inventor and invention from inception through the product going to market.
Occasional Invention Grant Sources
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Occasionally, federal agencies announce they are accepting invention grant applications when specialized projects arise and funds are available. In the past, these have included grants from the Environmental Protection Agency, Department of Defense, military branches, the Department of Agriculture and the National Institute of Health. To keep informed on possible grants for inventions, check the U.S. government grant site.
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- Photo Credit Image by Flickr.com, courtesy of Sharat Ganapati Image by Flickr.com, courtesy of Gordana Adamovic-Mladenovic
