Venture Funding and the NIH SBIR Program (2009) / Chapter Skim
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Appendix H: Testimony by Steven C. Preston, SBA Administrator, to the House Small Business Committee, March 13, 2008
Appendix H: Testimony by Steven C. Preston, SBA Administrator, to the House Small Business Committee, March 13, 2008
Pages 107-111
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From page 107... ...
Appendix H Testimony by Steven C Preston, SBA Administrator, to the House Small Business Committee, March 13, 2008 107
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From page 108... ...
There are currently eleven federal departments that participate including Agriculture, Commerce, Defense, Education, Energy, Health and Human Services, Homeland Security, Transportation, the Environmental Protection Agency, NASA and the National Science Foundation. SBA is responsible for promulgating regulations and policy directives to govern the program, while other federal agencies utilize the program to foster innovation.
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From page 109... ...
The Final Rule therefore provides that an SBIR awardee must meet the following requirements: it must be either (1) a for-profit business concern that is at least 51 percent owned and controlled by one or more individuals who are citizens of, or permanent resident aliens in, the United States (as the pre-existing regulations required)
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From page 110... ...
While recognizing that venture capital investment is crucial to small business growth, the Administration is nevertheless concerned that the committee print offers too broad a definitional change to the affiliation standards. SBA is currently reviewing these rules, and believes that the current change may not reflect the appropriate balancing required in development of size standards.
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From page 111... ...
While recognizing the historic goal of commercialization in the SBIR program, we believe that further expenditures and programmatic changes should be based on performance data, and we caution Congress to avoid re-focusing the program in a manner that involves direct support for commercialization activities more appropriately performed by the private sector. The Administration's clear goal is to further quality research which produces significant results for the Nation.
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