If your startup needs funding, divide your cash on hand by your net monthly burn to see how many months you have, then start the slowest applications first. Cut spending, register for SBIR, and open investor conversations through warm introductions at the same time, because the grant clock is the longest one.
How much runway do you have, and what is your funding gap?
Divide cash on hand by net monthly burn, and leave out any money you only hope to raise. JPMorgan's runway guidance says the calculation should not include anticipated fundraising or other uncertain capital. To find the gap, multiply burn by your target number of months and subtract the cash you hold.
Here is a worked example. Corporate Finance Institute describes a startup with $250,000 in cash that is spending $90,000 each month and bringing in $20,000. Net burn is $90,000 − $20,000 = $70,000. Runway is $250,000 ÷ $70,000, about 3.6 months. The same source notes that companies often aim for at least 6–12 months of runway. To reach 6 months at this burn, the startup needs six times its $70,000 net burn in cash, so the gap is that total minus the $250,000 it already holds.
The timing problem is just as important as the dollar gap. An NSF SBIR notice arrives about six months after you submit, which is longer than this startup's 3.6 months of cash. A grant cannot bridge that gap, so the first move is to cut burn.
What should you do this week?
Calculate your runway, cut burn, and start SAM.gov registration. Registration is free and takes only 10–15 minutes to initiate, but NSF says it can take up to three weeks to complete, and you need it active to submit a proposal.
A time-boxed order, sorted by lead time:
- This week: Work out runway and gap. Pause hires and nonessential spending. Start SAM.gov registration, then register in Research.gov (up to 48 hours) and the SBIR Company Registry.
- Within 30 days: Submit an NSF Project Pitch, which gets a reply in about 1–2 months. Book operator conversations and schedule field tests that produce evidence.
- 60–90 days: Finish the deck, build your investor list, and ask for introductions. Apply to small awards and competitions with short turnarounds.
Which funding sources are realistic, and in what order?
Pursue small awards and competitions first, SBIR alongside them, and accelerators and seed rounds once you have proof. Fit depends on stage, and our guide to bootstrapping a marine tech startup in Florida shows which help matches which stage.
Non-dilutive money, meaning funding that takes no ownership in your company, comes before equity because it produces evidence without selling shares. Accelerators often trade equity for money and mentoring, and our overview of accelerators and incubators for blue tech in Florida compares how they work. Seed rounds follow once field results and operator interest are on paper.
The main non-dilutive options are SBIR/STTR, NSF Tech Accelerators, university pilot awards and competitions, and amounts and catches differ. Florida Atlantic University describes its pilot awards on its newsdesk. Competitions such as Ocean Exchange are decided by the organizers alone. Our guide to stacking non-dilutive awards covers the order.
How long does it take to get paid?
For NSF SBIR, expect about 1–2 months for a Project Pitch reply and about six months from proposal submission to a funding notice, per NSF's get-started page. Add up to three weeks for SAM registration at the front. Count roughly eight months from today to a possible award, and money arrives after that notice. That fits a company with a year of cash, not one with a few months.
Are you eligible for SBIR?
Check eligibility before you spend weeks on a proposal. NSF requires a small business of fewer than 500 employees located in the United States, with at least 50% of equity owned by U.S. citizens or permanent residents. NSF does not fund companies majority-owned by multiple venture capital, private equity or hedge funds.
The principal investigator, your tech lead, must be legally employed at least 20 hours a week by the company and commit at least one month (173 hours) of work on a funded project per six months of project duration. All funded work must take place in the United States. The NSF SBIR/STTR solicitation sets the full rules, and each agency posts its own on SBIR.gov.
What evidence do investors expect before funding?
Investors want proof that the commercial problem is real and that the technology works in real marine conditions. In practice that means field test results and recorded conversations with operators who say they would buy or pilot.
For the next 30–60 days, gather three things: data from at least one on-the-water test, written interest from operators such as pilot commitments, and any award or grant that an outside reviewer granted. Operators trust what they have seen work on the water, so evidence from the field counts for more than projections. Our post on customer discovery with operators explains how to run those interviews.
What belongs in the pitch deck and investor narrative?
Cover the problem, your technical advantage, the market, your evidence and the funding ask, all legible to someone outside your specialty. The U.S. Small Business Administration says a funding request should explain how much you need, whether you want debt or equity, and how you will use the money, such as equipment, salaries or bills until revenue rises.
Turn that into slides. State the amount, split it by use, and tie it to milestones you will reach, such as a second field deployment or a signed pilot. Show what the money buys and what it proves. See our slide-by-slide pitch deck guide for the order.
How do you build an investor list and get warm introductions?
Build a short list of investors who match your stage and sector, then trace shared connections to each one. Start with funds and angels that have backed hardware, ocean or maritime companies at your stage. Then look for the people who already know you: operators you have tested with, advisors, university researchers and people you meet at events. Ask each for a specific introduction, with a two-sentence summary they can forward.
Founding Blue helps founders prepare decks and plan outreach, and we cannot promise any funding outcome. If you want to ask about High Tide events or deck and outreach support, reach out through our site.