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Tuesday, April 15, 2008
Contact: Julia Louise Krahe
202-225-0855
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WU LEADS EFFORT TO SUPPORT INNOVATIVE TECHNOLOGIES
Subcommittee Acts to Reauthorize SBIR/STTR
WASHINGTON, D.C. — Today Congressman David Wu introduced H.R. 5789, the Science and Technology Innovation Act of 2008, which reauthorizes the Small Business Innovation Research (SBIR) program and the Small Business Technology Transfer Research (STTR) program. He will lead the House Committee on Science and Technology’s Subcommittee on Technology and Innovation in marking up the bill tomorrow, Wednesday, April 16, 2008 at 2:00 pm EST.
SBIR and STTR comprise the largest source of federal support for technological innovation in the private sector, providing over $2 billion annually to small, high-tech entrepreneurial companies that are creating revolutionary new technologies.
SBIR is designed to increase the participation of small, high-tech firms in federal research and development efforts. STTR provides funding for innovative technologies that have been developed by an eligible nonprofit research institution, such as a university, and are being commercialized in partnership with a small business.
H.R. 5789 reauthorizes SBIR and STTR through 2010, increases the percentage of research and development funds set aside for the program by participating federal agencies, and increases the size of available awards.
“This legislation is a fundamental part of Congress’ innovation agenda,” said Congressman Wu. “Reauthorizing SBIR and STTR will demonstrate our commitment to promoting the fundamental science and technology components that drive our global, innovation-based economy.”
WHAT: Science and Technology Innovation Act of 2008 Markup
WHO: Congressman David Wu, Chairman, House Committee on Science and Technology’s Subcommittee on Technology and Innovation
WHEN: Wednesday, April 16, 2008, 2:00 pm EST
WHERE: 2318 Rayburn House Office Building
Washington, D.C.
View live webcast at http://science.house.gov/
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