Ernst, Williams Partner on Bill to Spur Golden Age of Innovation

INNOVATE Act reauthorizes SBIR-STTR programs.
WASHINGTON – U.S. Senate Committee on Small Business and Entrepreneurship Chair Joni Ernst (R-Iowa) and House Committee on Small Business Chairman Roger Williams (R-Texas) are partnering to reauthorize and improve the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs.
Williams introduced companion legislation to Ernst’sINNOVATE Actthat safeguards intellectual property from Chinese Communist Party espionage and prioritizes investment in technologies of the future to protect America’s homeland.
“I am thrilled to partner with Chairman Williams and work together to advance this important legislation to catalyze a Golden Age of innovation and safeguard vital intellectual property from Chinese espionage,”said Ernst. “TheINNOVATE Actensures that the SBIR-STTR programs invest in the best and brightest who are developing the technology that drives our nation forward. Protecting and advancing American innovation is critical to deterring our adversaries and ensuring the U.S. stays at the forefront of technological breakthroughs.”
“I want to thank Senator Ernst for her partnership on this crucial legislation as we work to support small businesses, who are on the front line of American innovation,”said Williams.“We must pass theINNOVATE Actand reauthorize SBIR and STTR to provide small businesses with the resources to develop cutting-edge technologies, many of which are vital to our national security. This legislation will prevent China and other foreign adversaries from infiltrating these programs, create opportunities for private investments to bolster R&D, and ensure that Main Street continues to lead the way for economic growth.”
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