Since its inception in 1982, the SBIR program has enabled federal agencies to award early-stage research grants of up to $750,000 to small businesses. The program has given out billions of dollars to biotech companies, and is a valuable source of funding for companies struggling through their startup years, says Linda Powers, managing director of Toucan Capital (Bethesda, MD, USA). An SBIR grant also serves as a stamp of validation that venture capitalists look upon favorably when deciding which companies to invest in, she adds.
'Capitalizing on Science, Technology and Innovation: An Assessment of the Small Business Innovation Research Program' was congressionally mandated in 2000 and will assess how the SBIR has stimulated technological innovation and contributed to federal research and development. Officials of the US National Research Council's Board on Science, Technology, and Economic Policy (STEP; Washington, DC, USA) will compile their findings into seven volumes to be released over the next 18 months beginning in June, according to STEP Program Director Charles Wessner, who led the study. “We're reviewing how the program works, what doesn't work and what might work better,” says Wessner.
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