Sherwood Boehlert: “I support the Small Business Technology Transfer Program Reauthorization Act of 2001. The Small Business Technology…”

“I support the Small Business Technology Transfer Program Reauthorization Act of 2001. The Small Business Technology Transfer Program (STTR) was created in 1992 as an offshoot of the larger Small Business Innovation Research Program (SBIR). Both programs are designed to tap into the innovation of high technology small businesses and foster the commercialization of their research capabilities. Specifically, the STTR program funds cooperative research projects between a small business and a non-profit research institution, such as a university or Federally funded laboratory. There are currently five participating agencies: Department of Defense, Department of Energy, National Aeronautics and Space Administration, Department of Health and Human Services, and the National Science Foundation. These agencies make R&D awards to the small business collaboration in the hopes of bringing new technology or technology that may have been 'on the shelf' of a research institution into the marketplace. Since its inception, the STTR program has made approximately $300 million in awards to small businesses and research institutions. As GAO recently reported, the return on our investment has been more than satisfactory. Out of the 102 responses from companies participating in the STTR program from fiscal years 1995-97, $132 million in sales and $53 million in additional development funding was reported.”