Referred to the Committee on Small Business, and in addition to the Committee on Science, Space, and Technology, 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.
The INNOVATE Act reforms the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs to accelerate technology development and commercialization while strengthening national security screening. The bill increases funding for STTR programs to 3.45% of agency budgets, introduces a new entry-level "Phase 1A" program offering up to $40,000 for first-time applicants, and creates a "strategic breakthrough allocation" allowing awards up to $30 million for defense-ready technologies, while capping total cumulative awards per company at $75 million unless granted a national security waiver. The legislation enhances security vetting by requiring agencies to screen applicants against multiple government lists tracking foreign affiliations, forced labor, and sanctioned entities, and prohibits companies with certain fact-checking organization agreements from participating. The bill also removes diversity and equity considerations from award decisions, mandates enhanced outreach to rural communities within 90 days, restricts intellectual property sharing with non-NATO foreign entities for 5-10 years, and extends program authorization through 2028 with improved data tracking and reporting requirements.
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