S. 1660 aims to strengthen the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs by making it easier for small businesses to turn federally-funded research into commercial products. The bill requires federal agencies running these programs to include commercialization expertise in their project reviews, expedite their decision timelines from one year to 180 days, and provide up to $6,500 for Phase I projects and $50,000 for Phase II projects to help companies access business advisory services, hire staff, or participate in entrepreneurship training through the Innovation Corps program. Each participating federal agency must also designate a Technology Commercialization Official to guide award recipients toward bringing their technologies to market and identify additional commercial opportunities. Additionally, the bill establishes a patent assistance program through the U.S. Patent and Trademark Office to help SBIR/STTR recipients with intellectual property protection, and requires an annual assessment measuring the real-world commercial impact of these programs over a nine-year period. The legislation applies to fiscal years 2025-2027 and includes flexibility allowances capping agencies at using up to 10-15 percent of their SBIR/STTR budgets for alternative funding structures.
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