When the president signed legislation that reauthorized the Small Business Innovation Research (SBIR) and the Small Business Technology Transfer (STTR) programs for six more years, entrepreneurs and scientists across the country breathed sighs of relief.
Finally, the uncertainty brought on by years of Congress’s spoon feeding temporary extensions (14 since 2008), was over.
The new law also remedies another long-standing issue with the program. Previously, program rules stated that to be eligible for these awards, a business had to be “at least 51 percent owned and controlled by one or more individuals who are citizens or, or permanent resident aliens in, the United States, except in the case of joint venture.”
To read the full, original article click on this link: SBIR door opened to VC Investment | i2E – Innovation to Enterprise
