Attention Life Science Entrepreneurs and those who care of our innovations in the life science space: Our Congress is now debating whether to reauthorize SBIR-enabling legislation and to increase SBIR and STTR allocations. Many of you have success stories about SBIR and STTR and we would like to see this program continue. Please add your two cents and influence this policy. Copy and paste the letter below and send it to your legislator, or visit our partners at BayBio http://www.baybio.org/advocacy/advocacy-action-center/ and click on the ‘write your legislators’ link to easily cast your vote for this important legislation.
We are scientists, investors, and executives in small high-technology businesses that have experienced first-hand the power of SBIR (Small Business Innovative Research) and STTR federal grants in stimulating technology commercialization, innovation, and job creation. We urge the reauthorization of the SBIR/STTR program by Congress at the earliest opportunity this year.
The SBIR/STTR program has been recognized repeatedly during its 25 year history as an outstanding engine for new patents and products.
There are several compelling reasons to reauthorize and to strengthen this program:
First, SBIR/STTR reauthorization does not increase the Federal budget. Instead, it allocates a percentage of Federal Research dollars at major federal agencies (including DoD, NIH, NASA, DoE, and NSF) for innovative, competitively evaluated new product research within small businesses.
Second, SBIR/STTR funding mobilizes scientists and engineers in thousands of small businesses all over the U.S. to tackle high risk projects in technology innovation. These projects consistently stimulate productive investments by industry and the venture capital community.
Third, SBIR/STTR has a documented, major impact on new company creation (20 percent of new high-technology companies in a recent survey). The program is also decentralized, adaptive, and funds programs outside of the mainstream.
Finally, SBIR/STTR strengthens the mission of the nation’s research universities by amplifying the impact of their fundamental findings.
We support the SBIR/STTR Reauthorization Act of 2011 (S. 493) and advocate increasing the SBIR and STTR allocations to 4.0% and 0.75% of the extramural budgets in all agencies, starting in the next fiscal year. The increase is justified because of the effectiveness of the program and because of the high level of competition for SBIR/STTR grants today.
In summary, the SBIR/STTR program increases American competitiveness and stimulates high-paying high-technology jobs creation with no increase in overall federal spending. We urge your support of legislation to reauthorize this successful program.