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Senate Panel Approves Small Business Innovation Measure

On July 30, the Senate Small Business and Entrepreneurship Committee approved, 18-0, a bill to reauthorize the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs until 2022 and 2023, respectively.

The SBIR and STTR programs allow the federal government, small businesses, and, in the case of the STTR program, nonprofit research institutions, such as universities, to partner with each other to meet the high-tech needs of federal agencies and grow small businesses.

Sponsored by Sen. John Kerry (D-MA), S. 3362, among other provisions, would increase award guidelines for the SBIR and STTR program from $100,000 to $150,000 for phase I of the program, and from $750,000 to $1 million for phase II of the program. The bill also would require agencies that have the SBIR program to collect data on whether the small business is owned by a woman or a minority.

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