Washington, DC – The House of Representatives this week passed job-creating legislation sponsored by U.S. Rep. Judy Biggert (R-IL-13th).  The bill, HR 2965, the “Enhancing Small Business Research and Innovation Act of 2009,” passed by a vote of 386-41.
 
            “By reauthorizing the Small Business Innovation Research program, Congress is providing crucial support for the innovation that will drive the American economy, create jobs, and help lift us out of the current recession,” said Biggert, a senior member of the Science & Technology Committee.  “With unemployment in Illinois at 10%, it has never been more important to help spur job creation and this program will do that.”
 
            The bill will reauthorize the SBIR program, a central element of the Federal research and development portfolio that is currently set to expire at the end of July 2009, and extend it to 2011.  The program is designed to increase the access of small businesses to federal research & development funding; every federal department with an R&D budget of $100 million or more is required to establish an SBIR program. 
 
            “One of the best things about this bill is that it helps small, innovative businesses through what I call the ‘valley of death,’ that period when a firm has developed a new technology but faces difficulties commercializing it and moving it to the market,” said Biggert.  “Too often, I hear from businesses in my district that find themselves in this situation.  By revising and reauthorizing the SBIR program, we can help move new technologies into the marketplace and create high-tech jobs in the process.”
 
            The reauthorized program will also provide a revised definition of what constitutes a “small business” and permit venture capital backed high-tech firms to qualify for SBIR programs if they meet certain criteria.
 
            “Another commendable part of this bill is that we’ve enabled some venture capital funded businesses to qualify for SBIR funds,” said Biggert.  “The current rules exclude legitimate small businesses and ignore the role played by venture capital firms in certain sectors, such as biomedical technology, where there is greater dependence on venture capital.”
 
            “The SBIR program is an important catalyst for businesses in Illinois and throughout America to turn groundbreaking innovations into jobs,” said Matthew Summy, President of the Illinois Science and Technology Coalition.  “I commend the House of Representatives and Congresswoman Biggert for advancing the reauthorization of this program, and improving its standing as a critical resource for American ingenuity and economic growth.”