Research Advancing to Market Production for Innovators Act

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.

Bill 118 s 1396, also known as the Research Advancing to Market Production for Innovators Act, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to support and promote research and development efforts by innovators in various industries.

The bill proposes several key provisions to achieve this goal. Firstly, it seeks to establish a grant program that would provide funding to innovators for research and development projects. This funding would help innovators bring their ideas to market and ultimately contribute to economic growth and job creation.

Additionally, the bill aims to streamline the process for innovators to obtain patents for their inventions. By reducing bureaucratic hurdles and expediting the patent approval process, innovators would be able to protect their intellectual property more efficiently and effectively. Furthermore, the bill includes provisions to encourage collaboration between innovators and academic institutions. By fostering partnerships between these two groups, the bill aims to facilitate the transfer of knowledge and technology from the academic world to the marketplace. Overall, the Research Advancing to Market Production for Innovators Act is designed to support and promote innovation in the United States. By providing funding, streamlining the patent process, and encouraging collaboration, the bill aims to help innovators bring their ideas to market and drive economic growth.