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SBIR / STTR reauthorization is passed by Congress
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Reauthorization of federal seed funding, a top priority for BIO’s work with Congress, passed the House with hefty bipartisan support on March 17 and is set to become law by month’s end. Biotech firms should soon be able to apply for grants from the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) seed-funding programs, which were reauthorized for five years. The Biotechnology Innovation Organization (BIO) will be cooperating with federal agencies and biotech firms to facilitate this support for innovation.
The Big Picture
In step with BIO, Jennifer Hawks Bland, CEO of NewYorkBIO issued the following statement: “NewYorkBIO applauds (the) passage by the US House of Representative of the
Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. For over four decades, these programs have delivered more than $70 billion in research funding to small businesses nationwide, driving scientific breakthroughs, innovative new companies, and thousands of jobs across both New York and the country.
Reauthorization of SBIR and STTR will give start-ups and small life science companies the stability the need to move discoveries from the lab to patients, advancing options for patients, advancing options for patients and strengthening U.S. economic competitiveness and global leadership in innovation. We look forward to this legislation being signed into law without delay so these programs can continue fueling the next generation of life-saving treatments, cures, and technologies.”
