Statement from SBA Administrator Karen Mills on the Reauthorization of the SBIR and STTR programs
“I am thrilled to see a long-term reauthorization of the highly successful SBIR and STTR programs. The money from these programs will go directly to some of America’s most promising small research and development companies to help them drive innovation, strengthen U.S. competitiveness, and create good jobs. In particular, I want to thank the leadership of the small business committees in the Senate and House who came together to increase allocations and award levels, shorten timelines for award decisions, and increase the focus on commercializing innovative products that will change the world.”
The Small Business Innovation Research and Small Business Technology Transfer programs currently invest about $2.5 billion each year in small research and development companies through a highly competitive award process administered in phases by large federal agencies and overseen by the U.S. Small Business Administration. These programs have been widely praised by groups such as the National Academies and have played a role in the emergence of companies like Qualcomm, Symantec, and many others since the program was created in 1982.