NSBA Applauds Passage of Measure to Reauthorize SBIR/STTRFebruary 4, 2022
For Immediate Release:
Feb. 4, 2022
Washington, D.C. – Yesterday, Feb. 3, 2022, U.S. House of Representatives approved a group of amendments which included an NSBA-supported provision to reauthorize the Small Business Innovation Research (SBIR) and Small Business Technology Transfer programs (STTR) for five years. The amendment was offered by Rep. Nydia Velazquez (D-N.Y.), Chair of the House Small Business Committee, and included in a broader amendment package by Science Committee Chair Eddie Bernice Johnson (D-Texas), Chair of the House Committee on Science, Space, and Technology.
“These programs are an essential source of R&D funding to high-tech small businesses, and I applaud Chairs Velazquez and Johnson for their support of these critical programs,” stated NSBA President and CEO Todd McCracken. “Too many times, Congress has waited until the last minute to reauthorize SBIR and STTR which has created unnecessary turbulence and insecurity for many small, innovative firms. This amendment takes a much-needed step forward in ensuring their long-term success and viability.”
“America’s small, innovative firms can rest a bit easier tonight thanks to the leadership of Chairs Velazquez and Johnson, and the support of the many lawmakers who voted to approve her amendment. I am proud of the work our small, innovative firms do and the SBIR/STTR programs are the epitome of a successful and efficient government program,” said Jere Glover, Executive Director of the Small Business Technology Council, an arm of the NSBA. “The SBIR/STTR programs are set to expire in less than 240 days, and I urge the Senate to follow suit on this measure soon.”
As of 2019, the program has provided over 179,000 awards, totaling more than $54.3 billion, to U.S. small businesses. A Defense Department assessment showed the SBIR/STTR Program has generated a 22:1 return for every federal dollar spent, and a study by the National Academy of Sciences found a commercialization rate of between 50-60% for SBIR/STTR investments-a win-win for the U.S. economy and taxpayer.
Celebrating more than 80 years in operation, NSBA is a member-driven nonpartisan organization advocating on behalf of America’s entrepreneurs. NSBA’s 65,000 members represent every state and every industry in the U.S., and we are proud to be the nation’s first small-business advocacy organization. Please visit www.nsba.biz.