"Fast Track" is a process for SBIR/STTR projects that attract outside investors who will match phase II funding, in cash, contingent on the project's selection for phase II award. Projects that obtain such outside investments and thereby qualify for the Fast Track will (subject to qualifications described in the solicitation):

• Receive interim funding of $30,000 to $50,000 between phases I and II where applicable
  
  
• Be evaluated for phase II award under a separate, expedited process; and
  
  
• Be selected for phase II award provided they meet or exceed a threshold of "technically sufficient" and have substantially met their phase I technical goals.

Toward the end of a small company's phase I SBIR (or STTR) project, the company and the investor submit a Fast Track application through the DoD Submission Website at www.dodsbir.net/submission. The application must be submitted within 150 days after the effective date of the SBIR (or STTR) phase I contract, and the company must submit its Phase II proposal within 180 days after the effective date of its Phase I contract The company is encouraged to discuss the application with its Phase I technical monitor; however, it need not wait for an invitation from the technical monitor to submit either a Fast Track application or a Fast Track Phase II proposal. The small business should contact its Phase I technical monitor for further instructions and guidance.

The Army will notify each Fast Track company, generally within 10 weeks after of the completion of phase I, whether it has been selected for phase II award. Once notified, the company and investor must certify, within 45 days, that the entire amount of the matching funds from the outside investor has been transferred to the company.

To learn more about Fast Tracks, visit the DoD Website at http://www.dodsbir.net/ft-ph2/default.html.