Who Will Fund My Early Stage Technology Company? [New Video Podcast]

Have you ever had Lasik eye surgery, developed by company IntraLase, in which doctors use blade-free laser technology to improve your vision?

Or maybe you remember the thrill of seeing the first photograph of a black hole using the Event Horizon Telescope back in 2019.

Or perhaps you’ve taken an FDA-approved, at-home COVID-19 test at some point over the past few months, the first of which was produced by diagnostics company Lucira Health.

America’s Seed Fund financially supported each of those pivotal technological endeavors to turn seemingly outlandish concepts — lasers for your eyeballs? A picture of something 55 million light years away? — into tangible reality.

In the latest episode of the Thomas Industry Update Podcast, Program Director and Policy Liaison Ben Schrag sits down with Thomas CEO and President Tony Uphoff to discuss the Fund’s innovation goals, highlight new technologies on the horizon, and share insider strategies for entrepreneurs interested in applying for funding.

“The goal here,” Schrag explains, “is not to try to replace venture capital, but to try to fund in the areas where venture capital maybe is not as effective.” (It’s important to note that because America’s Seed Fund does not get a stake in the business by providing funding, the business’ founders maintain full control of their companies.)

“A lot of times what we see these days is that venture capital tends to not fund things that are either very technically risky — so, very, very technically thorny with new science. That’s something where, in the early stages of those types of companies, the timelines don’t make sense [for investment from venture capitalists]. And… venture capitalists [often] don’t want to fund very, very early,” Schrag says. At America’s Seed Fund, “we try to fund very technically risky, very technically involved things, and we try to fund very early in the company.”

The Fund, a congressionally mandated program operating as part of the National Science Foundation, has been fueling startups and small businesses for 40 years by awarding $200 million annually in funding to budding entrepreneurs nationwide. By focusing on the “high-risk, high-impact” technologies that show substantial potential even at extremely early stages of development, the Fund has been a pivotal factor in the success of many now-recognizable businesses and innovative technologies.

Listen to the full episode to hear more of Schrag and Uphoff’s conversation about America’s Seed Fund, how to apply for funding, and the next generation of innovative technologies. The episode is now available to stream on the following platforms:

• Apple Podcasts
• Spotify
• Soundcloud
• Google Podcasts
• Stitcher

To hear Schrag’s full interview, check out the extended video cut of this podcast episode on YouTube.