Welcome back to Government In Plain Language with your host, MaBinti Yillah. Today, we’re sitting down with Sedale Turbovsky, founder and CEO of OpenGrants, where he helps entrepreneurs apply for and manage grants.
Sedale considers himself a strategic funding specialist. He’s spent a lot of time and experienced a lot of how to layer funding strategically for a company in order to get them to where they need to go, without having to only rely on certain kinds of capital. There are often restrictions with government funding and grants, and Sedale helps navigate that space.
In that line, Sedale’s biggest takeaway from working so closely within the government and federal funding ecosystem is that it is truly relationship-based. Often the government is looked at as a slow-moving monolith, which is true, but it’s not necessarily their fault. The systems they have in place are old and a product of their bureaucracy. They desperately need help and tools that function properly. They need to be empowered to make better decisions. The crux of much of the negativity is in the systems, not the people. There are serious things at stake--cyber security, military well-being, and economic competitiveness--and the simplest tasks become inefficient and useless. There are a lot of moving parts, and therein lies the problem.
For years, the government has had a very narrow, operational perspective, but not for much longer. There are more powers given to agencies to write checks for big swaths and diverse groups of innovators because the government has been this great risk-taker of innovation. Many incredible things that have changed the way we live our lives and do business have been funded by the government. The problem has been that, the issues have gotten more technical and harder to solve. The groups of people solving them have gotten bigger. Both venture capitalists and the government are after the same thing: the next billion-dollar unicorn. The problem is the government can’t keep up. There is an incredible moment to make government opportunities more accessible.
OpenGrants does just that. They are a search engine and marketplace where users can sign up on the platform and get matched to or search for grant funding. On the heels of that matching, OpenGrants will connect you to experts, who they've vetted, who can help you secure that funding. Ultimately, they streamline the process and help smooth over the challenges that come with getting federal funding.
So, if you can get $10 million in federal funding, why aren’t more entrepreneurs applying? Besides the infrastructural difficulties, the speed at which the funding happens is a major issue. In many cases, you can get venture funding in a fraction of the time and get to market to make money before the government would even be able to take part in the process. The user experience isn’t there.
What can entrepreneurs do now to be more active in the market, and win grants? The answer is to just be at the table. The reason that a lot of companies are really successful is that they're highly engaged in responding to RFI’s and shaping the viewpoint that directs the solution to them.
Key characteristics of a strong applicant for federal grants or funding include being highly organized. You should have all your logistics in a box. HR, salaries, accounting, and legal should all be buttoned down. In addition, having a good track record of being an honest, respectable individual will go a long way. Finally, understand your story. What impact are you making? What is the market opportunity?
We’re presented with a potential future where the government is outpaced by the private sector and fades into irrelevancy. We saw this in the pandemic. For many, the best responses to the pandemic came from private companies. The lack of response from the government wasn’t driven by incompetency, it was driven by a failure in system and tools.