Rep. Cisneros Introduces Bill to Support Small Business Innovation and Commercialization
Washington, DC – Today, Rep. Gil Cisneros (CA-31) introduced a bill, the SBIR Commercialization Improvement Act, that aims to create a better and more efficient environment for small businesses to transition their innovative technologies into successful products and services. This would foster small business growth, more effective contribution to our economy, and ensure our federal agencies have faster access to the innovation and technologies they need.
The bill focuses on improvements to Phase III of the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. More specifically, it establishes training programs for the federal agency workforce to make more Phase III awards, streamlines the process by directing standardized rules and contracts, and leverages previous investments by removing ambiguity for follow-on awards.
“The SBIR and STTR programs are essential for getting small businesses to commercial success,” said Rep. Cisneros. “But without proper support, these businesses face barriers and a potentially fatal funding gap at the final stage before getting the chance to thrive. I introduced the SBIR Commercialization Improvement Act to provide more training and practical solutions to give our small businesses a greater chance to succeed.”
As small businesses move from Phase II (R&D and prototyping) to Phase III (commercialization of the technology), they often face a fatal funding gap, which leads to a 50% failure rate in business development. This bill will address the challenges in the transition process from Phase II to Phase III, provide vital support to small businesses for successful commercialization, and help more businesses thrive.
Read the full text of the bill here.
Rep. Cisneros is a member of the House Committee on Small Business, the Ranking Member on the Subcommittee on Contracting and Infrastructure, and on the Subcommittee on Oversight, Investigations, and Regulations.
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