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For once, I disagree. When spent wisely, $3M can make a huge difference in a development of promising technology.

And I am not talking just about software - an aerospace, material science, fusion or biotech startup can work with that.

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> can work with that

I think the more apt wording is it's enough to get to the next round of funding

Well, true!

Can confirm. Most government agencies have the SBIR program which funds 6 months of work for $100k. A phase II is $750k for 2 years. The Phase I is typically TRL 3/4 (though I've had a TRL 2 contract before). You'd be surprised what you can get done on such a small budget.

Edit: This was an aerospace company too

Having worked in aerospace on SBIRs contracts for a period, I can testify that we delivered PowerPoint vaporware for that level of funding.

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