The Cross-Border Biotech Blog

Biotechnology, Health and Business in Canada, the United States and Worldwide

Tag Archives: reauthorization

Senate Action on Small Business Innovation This Week?

SBIR bannerThe Senate schedule for today does not include consideration of The Small Business Innovation and Research Act of 2009. Late last week there were rumors the House version of legislation, passed by the U.S. House of Representatives on July 8, would receive expedited consideration on the Senate floor as early as today, using the unanimous consent Senate measure. The Congressional Budget Office estimates the cost of implementing the House legislation would be $272 million 2010-2014. The legislation increases funding amounts and eases eligibility for SBIR grants to companies backed by venture capital investors. SBIR grants are available in all U.S. federal agencies, including NIH, Dept. Defense, Dept. Energy and NASA.

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SBIR Reauthorization Likely: Uncertain Improvements for VC-Backed Companies

SBIR bannerThe SBIR program in the U.S. looks to be heading toward reauthorization with increased funding amounts — up to $250,000 in Phase One (up from $100,000) and up to $2,000,000 in Phase Two (up from $750,000). 

VC-backed companies are not eligible under the current program, but that should change.  The Senate version of the bill allows some funding to VC-backed companies, but caps the percentage of grants that can go to VC-backed firms at 8%.  The House version doesn’t cap the amount, but implements some other restrictions to prevent abuse: no SBIR funding to companies with over 500 employees, or that are majority-owned by one venture firm, or that have too large a stake held by “corporate-owned venture firms.”

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