Grant-to-startup transition playbook

Moving from government or institutional grants to VC-backed startup.

Before the grant ends

Clarify IP and publication rights with grant agency and institution
Document deliverables and outcomes for final report (reuse for investors)
Identify 2–3 design partners or pilots that prove commercial interest
Incorporate (if not already) and clean cap table; option pool for hires
Draft a 12–18 month roadmap tied to a seed round use of funds

Positioning for VC

Reframe: “grant de-risked technical feasibility” → “now we need to scale and sell”
Lead with traction (pilots, LOIs, revenue) and team, not only technical milestones
Be explicit on why non-dilutive funding is not enough (speed, sales, team)
Know your TAM and beachhead; VCs want a path to $10M+ revenue

Fundraising timeline

Start conversations 6–9 months before grant end (warm intros, events)
Prepare: one-pager, deck, financials, and a clear ask (round size + milestones)
Target investors who understand deep-tech and longer time to revenue
Consider bridge or SAFE if grant ends before round closes

Compliance and reporting

Final technical and financial report; keep evidence of spend and outcomes
Check if there are ongoing obligations (e.g. royalty, march-in, reporting)
Ensure new funding (VC) does not conflict with grant terms

ScienceToStartup — Resources · sciencetostartup.com