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Government grants and contracts can be a significant source of non-dilutive funding for research. Furthermore, the government can be an important client for your technology, products, and services. However, doing business with government and receiving research funding is not without challenges and costs.
Government grants and contracts include terms and conditions for how you do business; how intellectual property (patents, etc.) is owned and used; project management; financial reporting; and, well, just about anything else your business does. When you enter into agreements with the government, it is important to understand what it means to your business – from the submission of a proposal, to receiving the first dollar, to closing out the project and getting paid.
F.O.C.U.S. Resources works with you to understand the impact and implications on your business. The terms and conditions may be written the same for “everyone”, but the impact – operationally, strategically, and financially – differs based on many factors including:
- business size
- stage of business (start-up or established)
- funding/ownership structures
- legal and tax entity
- scope of work
- operating structure
- price and cost structures
- deliverables
Becoming a recipient of government funds is a key strategic decision for most organizations. You invest time and money into developing proposals, executing the scope of work, developing financial budgets and rates, and many other tasks – BEFORE you get your first dollar.
Some would argue those are the easy parts. The hard part comes in redesigning your organization to meet the terms and conditions and ensure compliance. Non-compliance is costly. Compliance is a sound investment.
F.O.C.U.S. Resources works with our clients to minimize the cost and impact of compliance on the business.
When you are ready to prepare a proposal, we work with you to get the budget right and not leave money on the table…
When you need to develop a commercialization plan to support your research funding request…
When you win the award and are trying to figure out “What now?!”…
When the auditor is at your door…
When the next step isn’t clear…
When you aren’t sure whether to pursue government funding…
F.O.C.U.S. Resources is here to provide expert opinions, analysis, and support.
Call us at 919.234.3960. Email us at Info@focusresourcesinc.com.
Also, check out are articles on government funding, audits, and other compliance issues on this website under Articles.
