SMI Hails SBIR/STTR Reauthorization
December 15, 2011
WASHINGTON, DC - Earlier today amid extreme pressure from the small business community, the Senate passed the National Defense Authorization Act (NDAA) by a vote of 86-13 with an amendment that reauthorized the SBIR and STTR programs for six years. The House passed the bill yesterday, which now goes to President Obama for his signature. SMI President Ted Lynch praised the House Small Business Committee for reaching an agreement that allowed this important program to continue. “As a firm that works with many small businesses, SMI is extremely pleased this program is finally renewed, giving small businesses the certainty they need to continue to innovate and create jobs,” Lynch stated. “We are thankful for the improvements this agreement makes to the SBIR program and commend Congress for supporting this valuable community.” In addition to the six-year renewal, the long-term reauthorization provides increases to both Phase I and Phase II award levels, which had not been raised since 1982. Other improvements to the SBIR program include allowing for greater participation from small businesses with significant private capital support, requiring agencies to complete their review process for applicants within 90 days, and increased emphasis given to commercialization. Additionally, the application process will become standardized, allowing for greater ease of use for small businesses. House Small Business Committee Chairman Graves (R-MO) released a statement praising this legislation, noting that “As our nation continues to recover economically, it is important for Congress to pass legislation like this that helps our nation’s most effective job creators and innovators—our small businesses.” Click here for a vote summary. |
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