Jim Baird: “I am particularly pleased about the aspect of this legislation that will eliminate what I feel are counterproductive…”

“I am particularly pleased about the aspect of this legislation that will eliminate what I feel are counterproductive barriers to participation by firms that receive venture capital in the SBIR program. This issue was brought to my attention by a local firm, nLight Photonics, which is leading the world in high-capacity semiconductor lasers. Many of our top high-tech companies demand startup venture capital in order to build the infrastructure they need to produce the products which save us money, save us lives, and help stimulate our economy. These successful companies, however, often would like to branch out into a parallel area, perhaps not their primary pursuit, but a parallel area for which SBIR funds would be fully appropriate and advantageous. Unfortunately, under current rules, that is prohibited. In other words, the very companies that have proven successful and have been able to demonstrate to venture capital that they have a process, personnel, and products that are worth supporting are then precluded from Federal support. This bill corrects that.”