The SBIR/STTR Programs are currently set to expire on September 30, 2022. It would bedamaging to American innovation and competitiveness if these programs were to expire before a full reauthorization can be passed. The SBIR/STTR Programs enable small businesses to develop and commercialize new innovative technologies and have a proven track record of promoting competition through a merit-based application process. Since their establishment in 1982, these programs have provided over 179,000 awards, totaling more than $54.3 billion, to U.S. small businesses. A study by the National Academy of Sciences found a commercialization rate of 50-60% for SBIR/STTR investments.
Please take a moment to send an email to your legislators and help make sure that Congress renews the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Programs as part of reconciliation of the U.S. Innovation and Competition Act (USICA-S.1260) and the America COMPETES Act (COMPETES-H.R.4521).
Many MichBio members rely on the SBIR/STTR programs to develop new therapeutic medical devices, diagnostic tests, and health technologies for patients. Small businesses in the medtech community rely on SBIR/STTR funding to advance and de-risk innovative health care solutions. Federal R&D funding also provides a basis for scientific and technical validation, which attracts private investment and supports small businesses developing new therapies for patients.