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This bill matters because the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs are crucial for fostering innovation and economic growth by helping small businesses develop new technologies. By extending the authorization for administrative funding, the bill ensures the continued smooth operation and stability of these programs for another five years. This gives small businesses, and the federal agencies that support them, more certainty.
Increasing the administrative funding percentage slightly and, more importantly, requiring a portion of these funds to be transferred to the Small Business Administration (SBA) means the SBA will have more resources to effectively manage and improve the programs. This could lead to more efficient processing of applications and better support for participating businesses. Additionally, by emphasizing outreach to underserved populations and states with low SBIR awards, the bill aims to broaden participation in these programs, ensuring that more diverse small businesses across the country have the opportunity to innovate and contribute to the economy.
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This bill matters because the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs are crucial for fostering innovation and economic growth by helping small businesses develop new technologies. By extending the authorization for administrative funding, the bill ensures the continued smooth operation and stability of these programs for another five years. This gives small businesses, and the federal agencies that support them, more certainty.
Increasing the administrative funding percentage slightly and, more importantly, requiring a portion of these funds to be transferred to the Small Business Administration (SBA) means the SBA will have more resources to effectively manage and improve the programs. This could lead to more efficient processing of applications and better support for participating businesses. Additionally, by emphasizing outreach to underserved populations and states with low SBIR awards, the bill aims to broaden participation in these programs, ensuring that more diverse small businesses across the country have the opportunity to innovate and contribute to the economy.
An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)
An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)
| AMOUNT | PROGRAM | TYPE | YEARS |
|---|---|---|---|
| 3.3 percent of total SBIR and STTR program funds | SBIR and STTR administrative, oversight, and contract processing costs | discretionary | through September 30, 2030 |
| Not less than 10 percent of the funds used for administrative, oversight, and contract processing costs (which is 3.3% of total program funds) | Increase resources for the Small Business Administration for administering SBIR and STTR programs | mandatory | annually, upon appropriation |