S. 853: This Act may be cited as the

The bill, known as the "INNOVATE Act," aims to improve and promote small business growth in technology and innovation by enhancing the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. Below are the key components and provisions of the bill:

Enhancements to SBIR and STTR Programs

The bill seeks to streamline the participation process for small businesses in the SBIR and STTR programs. Specific efforts include:

• Making participation easier for new entrants.
• Addressing and combating discrimination in the application and funding processes.
• Improving funding opportunities to foster innovation and entrepreneurship among small businesses.

Open Topic Announcement

The bill introduces a new definition for "open topic announcement" concerning SBIR and STTR proposals. This refers to broad solicitations without specific technological specifications, which are designed to:

• Encourage innovative solutions to be evaluated based on innovation needs, rather than strict criteria.
• Set limits on the number of submissions to simplify the evaluation process.
• Define parameters around foreign risks for small business proposals, enhancing due diligence and security aspects while avoiding increased administrative burdens.

Amendments to the Small Business Act

To support these enhancements, the bill makes several amendments to the Small Business Act, which include:

• Extending the authorization period for the SBIR and STTR programs from 2025 to 2028.
• Removing the term "pilot" from various sections of the existing regulations.
• Adjusting specific numerical values in existing subsections to align with modern practices and needs.

Overall Impact

The INNOVATE Act is designed to improve the accessibility and effectiveness of federal support for small businesses engaged in research and development in innovative technologies. By making participation less burdensome and addressing discriminatory practices, the bill aims to create a more inclusive environment that promotes technological advancement and competitiveness among small businesses.

Relevant Companies

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