Tom Udall: “the small business technology transfer program has been a valuable tool to promote useful technological innovation since…”

“the small business technology transfer program has been a valuable tool to promote useful technological innovation since it was first authorized in 1992. Today, we take the final step toward extending and expanding STTR for the future. I hope that, if we see the same kind of development in the next 10 years as we have seen in the past decade, many more wonders will follow to change our lives and bolster our economy, which clearly needs it at this time. The STTR program is designed to address the lack of capital that small business research and development firms experience when getting started. Another unique aspect of the program is that small businesses can partner for research projects with research institutions, federally funded research and development centers, or nonprofit organizations. By supporting this legislation, we are taking a big step to strengthen and improve the STTR program and its delivery program to women-owned, minority-owned and those companies located in low-income communities. This program is a valuable tool to assist small business owners who focus on research and development initiatives.”