Research Advancing to Market Production for Innovators Act

Hozzl · 2024-03-06T08:15:25Z

Explore the details of House Bill 3056 Research Advancing to Market Production for Innovators Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Commerce. Stay informed on legislative developments.

3/6/2024, 8:15 AM

Summary of Bill HR 3056

Bill 118 HR 3056, also known as the Research Advancing to Market Production for Innovators Act, aims to support and promote innovation in the United States by providing funding and resources for research and development projects. The bill focuses on advancing technologies and products that have the potential to benefit society and the economy.

One of the key provisions of the bill is the establishment of a grant program that will provide funding to researchers and innovators working on cutting-edge projects. This funding will help support the development and commercialization of new technologies, products, and services that have the potential to create jobs and drive economic growth.

Additionally, the bill includes measures to streamline the process of bringing innovative products to market. This includes providing resources and support for researchers to navigate regulatory hurdles and bring their products to market more quickly and efficiently. Overall, the Research Advancing to Market Production for Innovators Act aims to foster a culture of innovation in the United States and support the development of new technologies that will benefit society and the economy. By providing funding and resources for research and development projects, the bill seeks to help researchers and innovators bring their ideas to market and drive economic growth and job creation.

Congressional Summary of HR 3056

Research Advancing to Market Production for Innovators Act

This bill provides commercialization services for federally funded small business research and development under the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs.

Specifically, the bill (1) expedites the application and award process for SBIR proposals and STTR solicitations, (2) requires determinations of commercialization potential for projects undertaken through SBIR and STTR awards, (3) provides continued flexibility of technical and business assistance for SBIR and STTR awardees, (4) instructs participating federal agencies to designate a technology commercialization official to help awardees commercialize, and (5) requires the Small Business Administration and the U.S. Patent Office to reach an interagency agreement to help SBIR and STTR awardees with intellectual property protection.

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Current Status of Bill HR 3056

Bill HR 3056 is currently in the status of Bill Introduced since May 2, 2023. Bill HR 3056 was introduced during Congress 118 and was introduced to the House on May 2, 2023. Bill HR 3056's most recent activity was Referred to the Committee on Small Business, and in addition to the Committees on Science, Space, and Technology, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. as of May 2, 2023