NSBRI seeks to double the impact of its SMARTCAP grants by requiring each grantee to obtain a 100% match of the award amount. This takes advantage of the fact that investment is often easier to obtain with evidence of a commitment for non-dilutive funding. The goal is to advance the project and thus the company more rapidly than would be possible solely from SMARTCAP funding. Both the company and NSBRI will benefit. Evidence of committed matching funding from one or more non-federal source(s) must accompany the project plans submitted by companies selected to present in Houston.
All contributions including cash and third party in-kind (see FAQ’s) will be accepted as part of the grantee’s matching funding so long as they meet the following requirements:
Q: If I have another award that is supporting similar goals, may I count that towards matching funds for SMARTCAP?
A: We expect that other support will be leveraged, but the work plan for the SMARTCAP project must be clearly distinct from that for other awards.
Q: May I have matching funding that is in-kind, i.e., labor, equipment, software, joint development efforts?
A: In-kind matching funding including labor is acceptable. The value of all in-kind support must be fully documented and verified by matching source’s authorized representative.
Q: Must all matching funding be in place when I submit my application?
A: No. However, the grant will not be made if matching funding cannot be confirmed before the commencement of the grant.
Q: What will suffice as evidence of committed funding?
A: A letter of intent from the funding source indicating that they will provide funding if and when you provide evidence that you have been selected for a SMARTCAP grant.
Q: Does an existing investment count as matching funding?
A: No. The intent of this provision is to leverage the investment being made by NSBRI, specifically for the accomplishment of the project goals. New investment(s) made to match the SMARTCAP award will count.
Q: Can the matching funds be directed to overhead while SMARTCAP funds go towards project costs?
A: Yes, matching funds may support the overhead costs that are incurred during the project