16 Nov BPC Action Applauds RAMP for Innovators Act in Economics and Finance
BPC Action applauds Sens. Chris Coons (D-DE) and Marco Rubio (R-FL) and Reps. Chrissy Houlahan (D-PA) and Troy Balderson (R-OH) for their leadership in introducing the Research Advancing to Market Production (RAMP) for Innovators Act (H.R. 652/S. 3109) which aims to increase speed and improve commercialization outcomes in the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs.
SBIR and STTR have for decades been essential means of government support for innovators across the country. In recent years, both Democrats and Republicans have expressed concern about long timelines for award decisions and inadequate tracking of commercialization and economic impact. This bipartisan, bicameral legislation would institute reforms to recapture the original intent of these programs and empower federal agencies to better support award recipients.
This bill also advances changes highlighted in a 2021 BPC report that would require agencies to prioritize commercialization potential in funding decisions, permit awardees to use a portion of awards for non-research activities that support commercialization, mandate data collection around companies’ commercialization efforts, and strengthen linkages among awardees and the U.S. Patent and Trademark Office.
The U.S. economy depends on innovative, growth-oriented small businesses to help solve some of our most pressing national challenges. The RAMP for Innovators Act will assist small business innovators access federal research and development dollars, protect their intellectual property, and commercialize ideas.
BPC Action is committed to helping this legislation become enacted into law.