His bill would create a pilot program under the Small Business Administration’s Small Business Innovation Research Program (SBIR). This pilot program will provide additional funding for Phase II of the SBIR program which helps small business startups bring their products and services from commercialization into the marketplace.
The SBIR program encourages small businesses, including universities, to perform research for federal agencies in the fields of innovation and technology, with the potential to bring their research products into commercialization.
“The SBIR program fosters technological advances among entrepreneurs but, too often, firms run out of capital trying to bring their innovative new products to market,” said Rep. Nydia M. Velázquez (D-NY), Ranking Member of the House Small Business Committee. “By making additional funds available during the commercialization phase, this legislation will help more companies clear this hurdle and create new jobs. I applaud Mr. Lawson for his leadership in getting this measure approved by the Committee.”
Laawson’s bill passed as an amendment to H.R. 2763, the Small Business Innovation Research and Small Business Technology Transfer Improvements Act of 2017.