This is a critical step toward ensuring that all innovative companies can compete for SBIR grants – based on the promise of their science rather than the structure of their capital. Reauthorizing the program to allow small companies that receive the majority of their financing from venture capital to once again be eligible to compete for SBIR grants is imperative. This change will allow more small biotechnology start-ups to continue critical research and development of medical advancements and breakthroughs.
A compromise on a longer term reauthorization is critical. BIO will work with Congress to ultimately reauthorize the SBIR program to reflect the realities facing small companies in capital-intensive industries such as biotechnology. SBIR should be an aggressively competitive program that fulfills federal research and development goals of bringing breakthrough public health discoveries to the public.
Senate amendment 1115 was offered by Sens. Mary Landrieu (D-LA) and Olympia Snowe (R-ME), with the following co-sponsors: Sens. Jeanne Shaheen (D-NH), Scott Brown (R-MA), John Kerry (D-MA), Kelly Ayotte (R-NH), Christopher Coons (D-DE), Carl Levin (D-MI), Benjamin Cardin (D-MD), and Robert Casey (D-PA).
Recent news stories:
Senate OKs SBIR funding, but full passage remains a question mark, New Hampshire Business Review, December 6
BIO Applauds Small Business Innovation Measure in Senate Defense Bill – Inside Health Policy, December 2
Senate Passes SBIR Reauthorization – BioCentury, December 2
BIO Praises Senate Passage of SBIR Reauthorization – BioMedReports, December 2
Senate OKs Changes to High Tech Start Ups – Science, December 2