SAN DIEGO, June 7, 2022 /PRNewswire/ -- OmniSync announces receiving a Small Business Innovation Research (SBIR) Phase 2 contract from the US Air Force and a commercial development contract from a large community development group to build and deploy its dual-use innovation discovery, due-diligence research, and funding platforms to increase the efficiency with which public and private capital is invested into unique, requirement-aligned technologies.
As a progression of its Phase 1 award received in 2021, OmniSync's Phase 2 contract was also awarded under the US Air Force's AFWERX SBIR/STTR program – these are highly competitive awards that support the development of innovative dual-use technologies that solve an important defense need, while also having strong commercialization potential.
Historically, the government's innovation acquisition process has relied on cumbersome, laborious, and often expensive market research to assess the current state-of-the-art. OmniSync will equip Air Force contracting officers and innovation cells with a novel tool that will provide deep knowledge of existing and upcoming cutting-edge technologies across the Air Force and industry, relevant to their requirements, ongoing missions, and projects, within seconds.
On a separate contract, a national group has also partnered with OmniSync to build a platform that aims to provide its startup community a single sign-on software system for raising dilutive and non-dilutive funding in parallel, while also offering funders, investors, grantmakers, and donors a systematic way to scout the best-fit technology, depending on their strategic focus.
"We love seeing technology get built by innovators and used by society. However, the lack of funding often hinders deep technology development, while the lack of its awareness can result in funding being spent/over-spent on duplicative projects. We want to help create a world in which innovation capital deployment is ably supported by deep, objective, data-driven knowledge of the current state-of-the-art of a technology area, as opposed to more traditional, limiting, and often biased approaches that may rely on anecdotal information or knowing the right people. Our AI/NLP algorithms take a more unbiased approach towards deciphering the objectives of projects, missions, and requirements, and discover new, non-obvious technical efforts that can contribute, augment, modify or at-times, abrogate the need for those projects completely, if repetitive," said Dr. Rupak Doshi, CEO of OmniSync Incorporated.
OmniSync is currently in technology-implementation discussions with Federal agencies, as well as with commercial entities, for whom, timely and accurate innovation tracking can better-support up to $billions in meaningful R&D funding allocations.
Air Force Research Laboratories (AFRL) and AFWERX, Air Force's innovation arm, have partnered to streamline the Small Business Innovation Research (SBIR) process in an attempt to speed up the experience, broaden the pool of potential applicants and decrease bureaucratic overhead. Beginning in SBIR 18.2, and now in 21.1, the Air Force has begun offering 'The Open Topic' SBIR/STTR program that is faster, leaner and open to a broader range of innovations.
OmniSync is a San Diego-based startup that uses a combination of best-in-class AI/NLP-powered innovation discovery tools, process automation software, and efficient expert-driven support systems to help democratize access to public/private innovation funds. Its flagship product, TurboSBIR is used by thousands of deep tech and life science startups to access agency-wide Small Business Innovation Research (SBIR)/Small Business Technology Transfer (STTR) grants and contracts to fund product development. OmniSync is VC-backed by strategically aligned firms, such as Govtech Fund, Longley Capital, and General Inception, among other innovation-focused family offices and angel investors. The company was selected among the top-performing tech startups in San Diego, twice in a row by San Diego Connect, and receives support from the ex-Googler founded venture studio, Launch Factory, and premier accelerators, Capital Factory and EvoNexus. Read more about OmniSync.
SOURCE OmniSync Incorporated