To amend the Small Business Act to reauthorize and modify the Small Business Innovation Research and Small Business Technology Transfer Research programs, and for other purposes.
About This Bill
Committee
Latest Action · December 12, 2024
Referred to the Committee on Small Business, and in addition to the Committees on Science, Space, and Technology, and Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
# SBIR/STTR Reauthorization Act of 2024
This bill reauthorizes and expands the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, which provide federal research funding to small companies. The legislation extends program authority through 2030, increases funding support to 3.3 percent of agency research budgets, and streamlines the award process by reducing the time between award notification and funding release to approximately 90 days, particularly for the Department of Defense and National Institutes of Health.
The bill aims to broaden participation in these programs by creating fellowship opportunities at Phase II award recipients, enhancing outreach to women and disadvantaged entrepreneurs, and increasing funding access for states historically receiving low SBIR and STTR awards. It also strengthens commercialization support by allowing Phase III award recipients to access training and mentoring services, while establishing new "Phase 0" proof-of-concept programs at multiple federal agencies beyond just the National Institutes of Health.
The legislation includes multiple oversight measures, requiring federal agencies to report award denial reasons and award timeliness data to Congress, and directing the Government Accountability Office to assess program effectiveness in diversifying participants and supporting commercialization. It also adds national security safeguards by restricting SBIR participation for small businesses controlled by foreign entities or covered foreign governments while allowing small business investment companies to participate in the programs.
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