*Memorandum of Understanding (MoU) - an agreement between two or more parties outlined in a formal document which signals the willingness of the parties to move forward with a contract.*
The MoU Club is designed to help AFWERX Phase I winners to get a signed MoU from a stakeholder from the United States Air Force and win Phase II funding.
The MoU Club is run in collaboration between Eagle Point Funding and Deep-Tech Showcase. Deep-Tech Showcase helps deep-tech startups reach market with focused guidance and through facilitating introductions between startups and stakeholders from the Government, VCs, and corporations.
It starts with AFWERX Phase 1 Funding
The U.S. Air Force seeks innovation from small businesses through the funding mechanism called AFWERX, run by AF Ventures.
The purpose is to stimulate innovation within the USAF by working with the private sector to solve AF Challenges (dual-use technology).
AFWERX funds small business through an Open-Topic SBIR.
The Air Force awards a company $50,000 for the company to engage in Customer Discovery of potential AF end-users.
The company must find an AF Stakeholder who will sign a Memorandum of Understanding (MoU) to win follow-on funding.
With a signed MoU, the company applies for Phase II funding of $750,000 for development.
90 days following the Phase II award, the company is eligible to apply for commercialization assistance of up to $30M from the government.
At the end of development, the company wins a Phase III contract with the AF Client.
Winning a MoU
The MoU Club helps AFWERX Phase 1 winners win a MoU
over an 12-week program:
1-on-1 Guidance with our AFWERX MoU experts
Identify potential MoU partners
Develop an outreach program
Create materials tailored to AF personnel
Join your calls with AF Stakeholders and help direct the conversation
Pitch at Showcase events with Air Force Stakeholders on the panel
Network: weekly meeting with other AFWERX P1 winners
Weekly Tip on identifying AF stakeholders
Knowledge share within the community
Learn best practices!
Learn what not to do!
Get prepared for the life after Phase 2
Raising Match Funding for AFWERX Winners
Phase 2 Match Funding
Raise matching funds from investors and increase the AFWERX P2 Award Size (when match funding encouraged in AFWERX solicitation)
Raise match funding for commercialization from private/public funding for Strategic Funding (STRATFI) or Tactical Funding Programs (TACFI) from US Air Force.
Up to $60M Total Funding
Up to $3.4M Total Funding
Fund-Raising Regardless of Phase