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Is Your Business Eligible for a Government Grant?

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This story appears in the February 2014 issue of Entrepreneur. Subscribe »

Nonprofits aren't the only businesses eligible for government grants. Since 2010, for-profit company Canopy Apps has received $2 million in National Institutes of Health (NIH) grants to develop translation technology for medical professionals working with patients who don't speak English.

Jerrit Tan, CEO of New York City-based Canopy, believes more entrepreneurs should take advantage of the billions of dollars in business grants offered by government agencies, which can buy a startup valuable R&D time and boost credibility.

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