A Boston Business Journal article recently highlighted a nationwide annual grant program from the National Science Foundation for early-stage companies and small businesses in search of funding to prove and develop their technology concepts. Each year, NSF, through its America’s Seed Fund, awards more than $200 million to entrepreneurs who “focus on high-risk, high-impact technologies — those that show promise but whose success hasn’t yet been validated.”

The fund, which is a congressionally mandated program, aims to foster innovation and create business and jobs in the United States. Applicants don’t need prior experience applying for federal grants. Further, NSF takes neither equity nor board seats. They do, however, offer help with an experienced team of advisors and mentors.

The American Seed Funds provides quick turnarounds on initial applications. A startup submits a “project pitch” for a grant. The application is then reviewed by an actual, live person who determines if the applicant should continue with the full application process. If approved, the startup advances to a more rigorous proposal option, which takes several months. The initial award is $256,000 over six months. The startup then begins research and development as well as researching regulatory issues, design, testing and prototyping, and general market fit. During Phase 2, applicants can apply for up to $1 million in additional grants.

Since 1977, NSF grant recipients have included Qualcomm, The IntraLase Corporation, and Ginkgo Bioworks, which was recently valued at $15 billion and is going public through a special-purpose-acquisition-company. To learn more about NSF’s and America’s Seed Fund ‘s portfolio of companies, click here.