Part of the requirements of an STTR project is an intellectual property agreement. This understanding is recorded in an Allocation of Rights Agreement (ARA) prior to the awarding of a prize by the federal authority to the small business. The company or pi will contact OPAS as soon as this document is requested by the federal authority. OPAS will engage UMII (University of Massachusetts Innovation Institute), which will enter into the university`s standard ARA-Boilerplate agreement and return it to the small company. All negotiations are conducted by UMII staff, in consultation with the Legal Counsel, if necessary. In addition to the transmission of the ARA, OPAS will also make available to the company a boilerplate financing agreement specially designed for the STTR project, which the company can use to subcontract to the university. All negotiations on this agreement are conducted by OPAS staff. The IP terms agreed during Phase I as evidence in the ARA are transferred to the Phase II program in case of award. . Applications for the university`s participation in an SBIR project are submitted by OPAS and treated in the same way as any subcontracting proposal. The UMass PI should not be mentioned as the IP of the entire project. Among the components of the proposal are the following: the STTR program is an extremely competitive program that reserves a certain percentage of federal R&D funds for awards to small businesses and non-profit academic partners. Small businesses have been the place where innovation and innovators thrive, but the risk and cost of a serious R&D effort can be beyond the means of many small businesses.
Non-profit academic institutions play an important role in the development of high-tech innovation. Often, this innovation is limited to theory, not practice. The STTR combines the strengths of both companies by linking these two groups in financing opportunities. Technologies and products are transferred from the laboratory to the market. The small business benefits from commercialization, which, in turn, stimulates the economy. . The SBIR program is aimed at the entrepreneurial sector, where most innovations and innovators thrive. The risk and cost of a serious R&D effort is often beyond the means of many small businesses. SBIR funds startups and critical developing countries and encourages the commercialization of the technology, product or service, which helps boost the economy. *Note: If the lead auditor or a direct family member has a financial interest in the business, including consulting contracts, disclosure of a conflict of interest must be submitted to the Head of Department and Vice Chancellor of Research and also indicated on the internal processing form. .