SBIR and STTR Reauthorization and Improvement Act of 2016

Bill 114 s 2812, also known as the SBIR and STTR Reauthorization and Improvement Act of 2016, is a piece of legislation that aims to reauthorize and improve the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. These programs provide funding to small businesses to conduct research and development projects that have the potential for commercialization.

The bill includes provisions to increase the funding levels for both the SBIR and STTR programs, as well as extend the authorization for these programs through fiscal year 2022. It also includes measures to streamline the application process for small businesses seeking funding through these programs, making it easier for them to access the resources they need to innovate and grow.

Additionally, the bill includes provisions to increase the participation of women-owned, minority-owned, and veteran-owned small businesses in the SBIR and STTR programs. This is aimed at promoting diversity and inclusion in the innovation ecosystem, ensuring that all small businesses have the opportunity to benefit from these valuable resources. Overall, the SBIR and STTR Reauthorization and Improvement Act of 2016 is a bipartisan effort to support small businesses in their efforts to innovate and bring new technologies to market. By reauthorizing and improving these programs, Congress is helping to ensure that small businesses continue to play a vital role in driving economic growth and job creation in the United States.