WASHINGTON—Following Congress’s passage of the Small Business Innovation and Economic Security Act, which reauthorizes the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) applications, the Information Technology and Innovation Foundation (ITIF), the main suppose tank for science and expertise coverage, launched the next assertion from Stephen Ezell, vp of world innovation:
Congress has executed its half to revive SBIR/STTR. President Trump ought to signal the laws into regulation as quickly as attainable. For greater than 4 a long time, SBIR/STTR has been one of the simplest instruments within the U.S. innovation system for serving to small companies flip federally backed analysis into industrial success.
Though this system accounts for simply 3.2 p.c of federal extramural R&D funding, it has delivered outsized outcomes, producing greater than $40 billion in awards, over 70,000 patents, and 700 public firms. Its affect is clear within the firms it helped help, together with Apple, Qualcomm, Amgen, Biogen, and iRobot.
Restoring SBIR/STTR would strengthen a confirmed engine of American innovation and assist make sure the United States does extra to maneuver breakthrough applied sciences out of the lab and into {the marketplace}.
Contact: Austin Slater, [email protected]