Weekly Policy Update: Small Business Innovation Research and Small Business Technology Transfer Programs Update

A longstanding policy priority for CBSA is supporting our ecosystem’s need for increased access to capital. Through our Capital + Growth efforts, we work closely with public and private partners to accelerate investment in life sciences companies at all stages of commercialization. Critical federal  funding sources include the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. These programs are vital for our life sciences community, as they provide early non-dilutive funding to help advance high-risk, early-stage innovative research. As the cost of conducting biomedical research continues to grow, this “first money” becomes increasingly important for attracting additional capital and private investors. In 2019, Colorado companies and organizations received 258 SBIR awards and STTR awards totaling over $82 million dollars.

Both programs are housed within the Small Business Administration (SBA). They are renewed every five years by Congress. The programs are set to expire in… Click here to view original post