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Small Business Support: Innovation Vouchers for Product Development

This act establishes a grant program for small businesses to help them fund the development of new products and services. Businesses can receive between $25,000 and $100,000 to purchase technical assistance from universities or research labs. The goal is to foster innovation and create new jobs, especially in businesses owned by women, veterans, or disadvantaged groups.
Key points
Small businesses can apply for grants to develop innovative products and services.
Grant funds will cover up to 75% of the cost of purchasing technical support from research institutions.
Priority for grants is given to businesses owned by women, veterans, disadvantaged individuals, and those in rural or underserved areas.
The program aims to boost innovation and competitiveness among small enterprises.
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Additional Information
Print number: 117_HR_4752
Sponsor: Rep. Crow, Jason [D-CO-6]
Process start date: 2021-07-28
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Small Business Innovation Voucher Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_4752.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-07-28.

What are the main provisions?

Key points include:

  • Small businesses can apply for grants to develop innovative products and services.
  • Grant funds will cover up to 75% of the cost of purchasing technical support from research institutions.
  • Priority for grants is given to businesses owned by women, veterans, disadvantaged individuals, and those in rural or underserved areas.
  • The program aims to boost innovation and competitiveness among small enterprises.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Crow, Jason [D-CO-6].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Small Business.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Economy