WASHINGTON – Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration and voice for America's 33 million small businesses in President Biden's Cabinet, released the following statement today after the House voted to reauthorize funding for the Small Business Innovation Research (SBIR) program:
"Today's Congressional vote demonstrates overwhelming bipartisan support for the Small Business Innovation Research program which is vital to our nation's capacity to innovate and improve the lives of all Americans. When President Biden signs this bill, America's innovators, scientists and entrepreneurs will have another three years of certainty as they continue to create opportunities which lead to jobs and equity in our nation's innovation economy. If past performance of the SBIR program is any guide, new generations of entrepreneurs will be breaking barriers in science, medicine, and technology, while ensuring that the United States maintains its position as an innovation leader at the forefront of science and technology in a rapidly evolving global market. A new three-year reauthorization for SBIR is a significant win for our nation's small businesses and the American jobs it supports."
Reauthorizing the programs enables SBA and our partner federal agencies to advance domestic commercialization of innovative technologies developed through the SBIR/STTR programs. The reauthorization extends the program and critical pilot initiatives, strengthens research security due diligence efforts, expands open topics solicitations, and increases company performance standards.
Bailey DeVries, SBA Associate Administrator for Investment and Innovation joined SBA Administrator Guzman in applauding today's vote, "SBIR/STTR program reauthorization signifies the importance of both federal support for R&D and public-private initiatives to transition innovative technologies and scientific discoveries from lab to market."
Known as "America's Seed Fund," the Small Business Innovation Research and Small Business Technology Transfer (SBIR/STTR) programs' mission is to support scientific excellence and technological innovation through the investment of federal research funds in critical American priorities to build a strong national economy. These programs represent the nation's largest source of early-stage research and development funding for small businesses. SBA coordinates the programs, collaborating with 11 federal agencies, that collectively support more than $4 billion a year in federal research and development funding.
Through these highly competitive awards, domestic small businesses with the potential for commercialization are encouraged to engage in federal Research and Development (R&D); these programs are an important resource for a wide range of researchers, innovators, inventors, entrepreneurs, and startups working on big ideas. The program's goals are to:
Stimulate technological innovation; Meet federal research and development needs; Foster and encourage participation in innovation and entrepreneurship by women and socially or economically disadvantaged persons; and Increase private-sector commercialization of innovations derived from federal research and development funding.
To learn more about the program visit www.sbir.gov