Senate Passes Bill to Renew Small Business Research Programs

The Senate unanimously passed legislation on Tuesday night that would reauthorize key small business innovation programs that provide seed money for research and development of new technology.

The measure (S. 3971) would extend the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs through Sept. 30, 2031. Read the bill text here.

Sens. Joni Ernst (R-Iowa) and Ed Markey (D-Mass.), the chair and ranking member of the Small Business and Entrepreneurship Committee, said Tuesday that the legislation was a product of bipartisan negotiations.

“We now have the necessary reforms to strengthen America’s seed fund while unleashing small ...