Senate Passes Kerry's Small-Business Innovation PlanWASHINGTON — U.S. Sen. John Kerry, D-Mass., a senior member of the Small Business Committee, today applauded the unanimous Senate passage of two small-business research programs Kerry originally sponsored as the committee's former chairman.
The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs under the Small Business Administration offer competitive awards to innovative small businesses. Reflecting Kerry's original legislation, today's vote will reauthorize both programs for eight years, making the new sunset date Sept. 30, 2017.
"This is a shot in the arm for small businesses in Massachusetts and throughout the country," said Kerry. "This vote ensures that these programs do not lapse so that small, high-tech firms from Springfield to Newburyport can continue to utilize them to develop technologies to keep our military strong, advance medical breakthroughs, and develop energy sources that are renewable and clean."
Small businesses awarded funding through SBIR or STTR work through three incremental phases. Today's legislation will increase the awards from $100,000 to $150,000 for Phase I and from $750,000 to $1 million for Phase II.