Senate Small Business Committee hears competing views on SBIR/STTR reauthorization and new INNOVATE Act

Chair Joni Ernst, chair of the Senate Committee on Small Business and Entrepreneurship, opened a committee hearing on the reauthorization of the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs and announced the Investing in National Next Generation Opportunities for venture acceleration and technological excellence (INNOVATE) Act, a reauthorization and reform bill. "My legislation streamlines and simplifies existing processes, directs the funding toward projects based on merit, channels funding to help accelerate the most promising projects towards final stage commercialization, protects against waste and abuse, and introduces enhanced protections and accountability tools to prevent these new technologies from getting into the hands of our foreign adversaries," Ernst said.

The hearing assembled witnesses and senators from states with concentrated SBIR/STTR activity to discuss program performance, geographic disparities, commercialization rates and national security protections. The three majority witnesses were Austin Strawhacker, associate state director, America's SBDC Iowa; Caleb Carr, chief executive officer of VITA Inclinada; and David Rothstein, principal at Shield Capital. Ranking Member Edward J. Markey introduced the minority witness, Dr. Ken Mahmood, executive vice president of Triton Systems.

Why it matters: SBIR and STTR award authorizations are set to expire and lawmakers are considering reforms that could change application…