Congressman John B. Larson (CT-01) applauded the renewal of the Small Business Innovation Research (SBIR) program today, calling it "Critical assistance for Connecticut's small businesses."
The program renewal was included in the National Defense Authorization Act (NDAA) that Congress approved this week.
"Small businesses are the cornerstone of our economy," Congressman Larson said. "At a time when our economy is still recovering from the worst downturn since the Great Depression, Government needs to ensure that it is creating an environment for small businesses to succeed. And that's exactly what the SBIR program helps do. "
The SBIR program was created along with the Small Business Technology Transfer (SBTT) program in 1982 and expired at the end of fiscal year 2008. Since its expiration, Congress has passed a series of short-term extensions of the program. Under the NDAA, SBIR can now operate until September 30, 2017.
Since its creation, SBIR has provided $21 Billion in funding to over 15,000 small businesses in Connecticut and around the country for research and development, which has resulted in 50,000 patents.
The grants have helped create breakthroughs in national defense, environmental protection, healthcare and data management.