This bill matters because it seeks to make federal research and development funding more accessible, which can be a critical resource for innovative small businesses. By providing application assistance and specifically targeting underserved regions and institutions, it could foster innovation and create economic opportunities in communities that have traditionally been left out of the competitive grant process. This expanded access could lead to the development of new technologies, job creation, and overall economic growth in a wider range of communities.
If this bill becomes law, more small businesses, including those led by diverse entrepreneurs or located in less-resourced states, might gain the necessary funding to turn their ideas into reality, potentially leading to breakthroughs in various fields. If it does not pass, the existing disparities in federal grant awards might continue, potentially limiting the growth of small businesses in certain areas and the participation of diverse innovators in federally funded research.
KEY PROVISIONS
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PROVISION 01
Extends the Federal and State Technology Partnership (FAST) program's authorization from 2005 to September 30, 2030.
This ensures the continuation of a program that helps states and local organizations support small businesses in securing federal research and development grants.
PROVISION 02
Requires the Small Business Administration (SBA) to provide direct assistance to small businesses when they apply for federal SBIR and STTR grants.
This makes it easier for small businesses, especially those struggling with complex applications, to access crucial federal funding for innovation.
PROVISION 03
Directs the SBA to specifically offer application assistance to small businesses in states that have historically received a low number of SBIR or STTR awards.
This aims to distribute federal research funding more equitably across the country, boosting innovation in underrepresented regions.
PROVISION 04
Mandates enhanced outreach efforts by the SBA to increase participation of researchers from minority institutions and Hispanic-serving institutions in SBIR programs.
This promotes diversity and inclusion in federally funded research, ensuring a broader pool of talent contributes to innovation.
PROVISION 05
Establishes similar outreach procedures for researchers from minority institutions and Hispanic-serving institutions to participate in STTR programs.
This ensures that both major types of federal research grants are accessible to these important academic institutions.
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.
This bill matters because it seeks to make federal research and development funding more accessible, which can be a critical resource for innovative small businesses. By providing application assistance and specifically targeting underserved regions and institutions, it could foster innovation and create economic opportunities in communities that have traditionally been left out of the competitive grant process. This expanded access could lead to the development of new technologies, job creation, and overall economic growth in a wider range of communities.
If this bill becomes law, more small businesses, including those led by diverse entrepreneurs or located in less-resourced states, might gain the necessary funding to turn their ideas into reality, potentially leading to breakthroughs in various fields. If it does not pass, the existing disparities in federal grant awards might continue, potentially limiting the growth of small businesses in certain areas and the participation of diverse innovators in federally funded research.
KEY PROVISIONS
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med
Extends the Federal and State Technology Partnership (FAST) program's authorization from 2005 to September 30, 2030.
This ensures the continuation of a program that helps states and local organizations support small businesses in securing federal research and development grants.
high
Requires the Small Business Administration (SBA) to provide direct assistance to small businesses when they apply for federal SBIR and STTR grants.
This makes it easier for small businesses, especially those struggling with complex applications, to access crucial federal funding for innovation.
high
Directs the SBA to specifically offer application assistance to small businesses in states that have historically received a low number of SBIR or STTR awards.
This aims to distribute federal research funding more equitably across the country, boosting innovation in underrepresented regions.
high
Mandates enhanced outreach efforts by the SBA to increase participation of researchers from minority institutions and Hispanic-serving institutions in SBIR programs.
This promotes diversity and inclusion in federally funded research, ensuring a broader pool of talent contributes to innovation.
high
Establishes similar outreach procedures for researchers from minority institutions and Hispanic-serving institutions to participate in STTR programs.
This ensures that both major types of federal research grants are accessible to these important academic institutions.
Expiration date for the Federal and State Technology Partnership (FAST) program.
Not later than 90 days after the date of enactment
SBA to modify policy directives to require enhanced outreach to minority and Hispanic-serving institutions for SBIR programs.
GLOSSARY
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SBIR Program
Small Business Innovation Research program; a federal program that provides funding to small businesses for research and development with the potential for commercialization.
STTR Program
Small Business Technology Transfer program; similar to SBIR, but requires small businesses to formally collaborate with a non-profit research institution (like a university) for the research and development.
Small Business Administration (SBA)
A U.S. government agency that supports small businesses across the country by providing resources, advice, and assistance.
FAST Program
Federal and State Technology Partnership program; a program that provides funding to states and local organizations to help small businesses compete for federal research grants and commercialize their innovations.
Minority Institution
An accredited higher education institution that enrolls a significant percentage of minority students.
Hispanic-serving Institution
An accredited higher education institution that has an enrollment of at least 25 percent Hispanic undergraduate students.
Policy Directives
ACTION TIMELINE
2 EVENTS
JUL 17, 25
Introduced in House
INTROREFERRAL
JUL 17, 25
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.
Official instructions or guidelines issued by a government agency (like the SBA) that dictate how its programs and operations should be carried out.
Outreach Efforts
Activities designed to inform and engage specific groups of people about available programs or opportunities, often with the goal of increasing their participation.
