Small business innovation and job growth
Senator Coons took to the Senate floor today in support of S. 493, legislation to reauthorize and expand the Small Business Innovation Research and Small Business Technology Transfer programs. These programs directly help small businesses scale up and create jobs, and they have a history of job creation in Delaware.
Established in 1982, the Small Business Innovation Research (SBIR) program sets aside a small part of the research and development budget from a number of federal agencies to be used as grants for small businesses. The Small Business Technology Transfer (STTR) program, created in 1992, helps scientists and innovators at research institutions take their discoveries and commercialize them through small business start-ups. Together, both of these programs have invested over $28 billion in helping American small businesses transform into medium and big businesses through innovation and the commercialization of cutting-edge products.
Unfortunately, both SBIR and STTR have faced expiration year after year as Congress delayed a long-term reauthorization. “For too long,” Chris said in his floor speech, “the Senate has kicked the can down the road by passing temporary extensions month after month, year after year, for these two vital programs. This week, at long last, we have the chance to pass real long-term reauthorization.”
In Delaware, local companies are benefitting. Since 1983, nearly 400 Delaware businesses have received $400 million in SBIR grants. One, Elcriton in Newark, started with only two employees and is now scaling up and creating jobs. Elcriton is working on commercializing a process that uses bacteria to turn algae into butanol fuel. Butanol works with our existing petroleum infrastructure, which makes it better than ethanol for wide use in cars and trucks.
Another company Chris featured in his remarks is ANP Technologies, which is developing a lightweight biological agent detection system for troops in the field and first-responders. Compact Membrane Systems of Newport is also putting an SBIR grant to work developing a holly fiber filter that can separate hydraulic fluid from water, extending the life of wind turbines and expanding their workforce from three to twenty-four employees.
In his statement, Chris highlighted the importance of passing S. 493 and its effect on American competitiveness. He said:
“We cannot afford to let this critical job-creating program expire. According to one report, small businesses backed by SBIR grants have been responsible for almost a quarter of our nation’s most important innovations over the past decade, and they account for almost forty percent of our nation’s patents. The applications range from the military to medicine, from education to emergency services.
"Congress must have a smart approach to budget reform that balances budget cuts with strategic long-term investments that create growth and job-creation for our communities, a great example of exactly what it is that the SBIR and STTR programs do.”
Chris is continuing to fight for a budget that puts job creation first and invests in long-term growth for Delaware and for all Americans.