Zoe Lofgren: “I support H.R. 5100, a bill that I cosponsored along with the Chair of the Science Committee, Representative Babin, and…”

“I support H.R. 5100, a bill that I cosponsored along with the Chair of the Science Committee, Representative Babin, and the Chair and Ranking Member of the Small Business Committee, Representatives Williams and Velazquez. Like my colleagues, I am a strong supporter of the SBIR and STTR programs and it is my priority to see these programs continue without disruption. For more than 40 years, and Small Business Innovation Research Program (SBIFR), and later its companion program the Small Business Technology Transfer Program (STTR), have been contributing to U.S. leadership in technological innovation through support for small business research and development. My home state of California has long been one of the Nation's leading states for science and technology. Because of our rich and diverse culture of innovation and entrepreneurship, our small companies--across sectors--have successfully competed for SBIR/STTR funds since the programs' inception. In 2022, California companies won a total of $887 million in SBIR/STTR awards. I celebrate the success of California's small businesses. But more importantly, I celebrate the return on investment (ROI) that benefits the entire Nation. While estimates vary depending on the scope and methodology of each study, the studies I have seen report a ROI of at least 10:1. That is a remarkable win for the taxpayer for a relatively small investment.”