INNOVATE Act

Bill 119 s 853, also known as the "SBIR/STTR Reauthorization Act of 2019," aims to enhance the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs established under the Small Business Act. These programs provide funding opportunities for small businesses to engage in research and development projects that have the potential for commercialization.

The bill includes provisions to increase the funding allocation for both the SBIR and STTR programs, with a focus on promoting innovation and competitiveness in key technology sectors. It also seeks to streamline the application and review process for small businesses seeking funding through these programs, making it easier for them to access the resources they need to advance their research and development efforts.

Additionally, the bill includes measures to improve the reporting and oversight of the SBIR and STTR programs, ensuring that taxpayer dollars are being used effectively and efficiently. It also includes provisions to increase the participation of underrepresented groups, such as women and minority-owned businesses, in these programs. Overall, Bill 119 s 853 aims to strengthen the SBIR and STTR programs, making them more accessible and impactful for small businesses engaged in research and development activities.