GAO Releases Report on Small Business Innovation Research

Nichols Liu – GAO recently published a report on Small Business Innovation Research (SBIR) program awards to businesses majority-owned by investment companies and funds. The SBIR and related Small Business Technology Transfer (STTR) programs act as a seed fund to invigorate technological breakthroughs by directing federal research and development funds to eligible small businesses.  The programs’ goals are to use small businesses to meet federal research and development needs, while fostering participation by socially and economically disadvantaged small business concerns and women-owned small business concerns in technological innovation.