|Carson: Small Business Drives Innovation, Economic Growth|
July 8, 2009
Washington, D.C. – Today, Congressman André Carson joined a strong bipartisan contingent to pass the Small Business Research and Innovation Act, which modernizes the government’s largest small business research and development programs and more than doubles the amount of grants small businesses can apply for to engage in cutting-edge research.
“Small businesses are the engines that drive innovation and pioneer new technologies in this country,” said Congressman Carson. “Today, I was proud to support the Small Business Research and Innovation Act, which I believe takes significant action to promote entrepreneurship and support the long-term economic stability of American businesses.
“Every year, these programs help 1,500 new firms get off the ground and aid thousands more in growing their operations. As our nation struggles through an ongoing recession, I believe it is critical for us to support small business innovation that is responsible for millions of jobs, numerous new technologies and a globally-competitive American economy.”
More information about the Small Business Research and Innovation Act:
The Small Business Research and Innovation Act will broaden the pool of businesses that participate in the Small Business Innovation Research (SBIR) program and the Small Business Technology Transfer (STTR) initiative. The bill makes it easier for small businesses—including those owned by rural entrepreneurs, veterans, minorities and women—to find financing, allowing them, not Washington bureaucrats, to decide how to raise capital. It also puts a greater emphasis on helping smaller firms bring their products to market.
Since 1992, the SBIR and STTR programs have awarded 65,000 grants to small companies that are leading research efforts to cure diseases, strengthen national defense and reduce our dependence on foreign energy sources. Without action by Congress, these programs will expire later this month.
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