09/11/08 Business Start-up Hurdles in Underserved Communities: Access to Venture Capital and Entrepreneurship Training Hearing
09/09/08 Opportunities and Challenges for Women Entrepreneurs on the 20th Anniversary of the Women's Business Ownership Act Roundtable
07/30/08 S.3362, A bill to reauthorize and improve the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs Markup
06/25/08 Examining Solutions to Cope with the Rise in Home Heating Oil Prices Hearing
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Small businesses are the engine of growth and innovation in the American economy. Studies show that small businesses employ 41 percent of the nation's high tech workers and generate 13 to 14 times more patents per employee than large firms. In order to help drive research forward and to harness the efforts of innovative small businesses for the benefit of agency missions and the public good, the federal government has several programs designed to enable small businesses to pursue innovative projects in a diverse set of fields from national security to healthcare to energy.
All agencies with an external research and development budget exceeding $100 million are required to set aside 2.5 percent of this budget for the Small Business Innovation Research (SBIR) program. Currently, 11 federal agencies participate, and each of these agencies issues solicitations on a periodic basis, seeking innovative project proposals from small businesses to meet the agencies needs and to keep the country on the cutting edge of technology. Since its inception in 1982, the program has been a resounding success. According to the Small Business Administration, approximately 1 in 4 SBIR projects will result in the sale of new commercial products or processes. Among the technologies pioneered by SBIR-funded small businesses are a machine that uses lasers and computer cameras to sort and inspect bullets at a much finer level of detail than the human eye can manage, the technology that creates the "invisible" condensation trail of the B-2 bomber, and a needleless infusion patch that enables fast, cost-effective, controlled, and painless delivery of drugs and vaccines through the skin.
The Committee is currently working on legislation to reauthorize the SBIR program which expires September 30, 2008.
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