by fostering and encouraging participation by socially and economically disadvantaged and women-owned small businesses. These NSF SBIR/STTR Fast-Track pilot programs provide fixed amount cooperative agreements for thedevelopment of a broad range of technologiesbased on discoveries in science and engineeringwith potential for societal and economic impacts. Unlike fundamental or basic research activities that focus on scientific and engineering discovery itself, the NSF SBIR/STTR Fast-Track pilot programs support the creation of opportunities to move use-inspired and translational discoveries out of the lab and into the market or other use at scale, through startups and small businesses.The NSF SBIR/STTR Fast-Track pilot programs do not solicit specific technologies or procure goods and services from startups and small businesses.Any invention conceivedorreduced to practice with the assistance ofSBIR/STTR fundingis subject to the Bayh-Dole Act. For more information refer toSBIR/STTR Frequently Asked Questions #75. NSF promotes inclusion by encouraging proposals from diverse populations and geographic locations. The traditional NSF SBIR/STTR programs include two funding Phases – Phase I and Phase II. All proposers to the programs must first apply for Phase I funding – there is no direct-to-Phase II option. Under a traditional NSF SBIR/STTR Phase I award, a small business can receive non-dilutive funding for research and development (R&D) to demonstrate technical feasibility over 6 to 12 months and then, after completion of a Phase I project, companies may apply for Phase II funding to further develop the proposed technology. There aresignificantbenefits for SBIR/STTRFast-Track recipients:the submission of only oneproposalfor Phase I and Phase IIand a faster transition from Phase I to Phase II.While startups and small businesses face many challenges, NSF SBIR/STTR Fast-Track funding is intended to specifically focus on challenges associated with technological innovation; that is, on the creation of new products, services, and other scalable solutions based on fundamental science or engineering. A successful Fast-Track proposal must demonstrate how NSF funding will help the small business create a proof-of-concept or prototype by retiring technical risk. NSF seeks unproven, leading-edge, technology innovations that demonstrate the following characteristics:

• The innovations are underpinned and enabled by a new scientific discovery or meaningful engineering innovation.
• The innovations still require intensive technical research and development to be fully embedded in a reliable product or service.
• The innovations have not yet been reduced to practice by anyone and it is not guaranteed, at present, that doing so is technically possible.
• The innovations provide a strong competitive advantage that are not easily replicable by competitors (even technically proficient ones).
• Once reduced to practice, the innovations are expected to result in a product or service that would either be disruptive to existing markets or create new markets/new market segments.

The NSF SBIR/STTR Fast-Track pilot programs focus on stimulating technical innovation from diverse entrepreneurs and start-ups by translating new scientific and engineering concepts into products and services that can be scaled and commercialized into sustainable businesses with significant societal benefits. The programs provide non-dilutive funding for research and development (R&D) of use-inspired scientific and engineering activities at the earliest stages of the company and technology development. During the course of the award, the emphasis is expected to shift from de-risking those aspects preventing the innovation from reaching technical feasibility and driving the intended impact to a greater focus on commercially relevant development activities that will allow the company to differentiate itself and drive new value propositions to the market and society. NSF encourages input and participation from the full spectrum of diverse talent that society has to offer which includes underrepresented and underserved communities. These NSF programs are governed by15 USC 638and the National Science Foundation Act of 1950, as amended (42 USC §1861, et seq.). Introduction to the Program The NSF SBIR/STTR programs focus on stimulating technical innovation from diverse entrepreneurs and startups by translating new scientific and engineering discoveries emerging from the private sector, federal labs, and academia into products and services that can be scaled and commercialized into sustainable businesses with significant societal benefits. These NSF SBIR/STTR Fast-Track pilot programs enable companies based on previous NSF awards (NSF award lineage) to submita single proposalthat, if awarded, can provide a faster pathway from Phase I to Phase II funding.Receipt of full funding under the Fast-Track pilot programs is contingent on the results of a company’s Phase II transition review. The NSF SBIR/STTR Fast-Track pilot programs are part of theDirectorate for Technology, Innovation and Partnerships (TIP), which was recently launched to accelerate innovation and enhance economic competitiveness by catalyzing partnerships and investments that strengthen the links between fundamental research and technology development, deployment, and use.