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Seeing Green

Often overlooked by investors, small fund may lead to buried treasure

This story appears in the October 1998 issue of

If at first you don't succeed, try, try again."Entrepreneurs applying for grants from the Small BusinessInnovation (SBIR) and the TechnologyTransfer Research (STTR) programs should keep this adage in mind.Only one in eight applications submitted survive the rigorousapproval gauntlet, according to Daniel O. Hill, assistantadministrator for the SBA Office of .

Scott Thompson knows the process well. It took 11 attempts--from1992 to 1996--and the formation of several companies before theowner of CHT Engineering Systems Inc. in Hermosa, South Dakota,obtained SBIR for his human target tracking system.

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