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Small Business Support: Innovation Vouchers for Growth

This act establishes an innovation voucher program for small businesses to help them access expertise and technology. This enables companies to develop new products and services, fostering economic growth and job creation. The program aims to facilitate collaboration between businesses and research institutions.
Key points
Small businesses can receive grants from $15,000 to $75,000 for developing innovative products and services.
Funds can be used to purchase technical assistance and services from higher education institutions or research labs.
A portion of the funds is set aside for businesses in underserved markets, owned by veterans, women, or socially and economically disadvantaged individuals.
The program aims to enhance business competitiveness, accelerate technology development, and create new jobs.
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Additional Information
Print number: 117_S_160
Sponsor: Sen. Cortez Masto, Catherine [D-NV]
Process start date: 2021-02-02
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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_S_160.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-02-02.

What are the main provisions?

Key points include:

  • Small businesses can receive grants from $15,000 to $75,000 for developing innovative products and services.
  • Funds can be used to purchase technical assistance and services from higher education institutions or research labs.
  • A portion of the funds is set aside for businesses in underserved markets, owned by veterans, women, or socially and economically disadvantaged individuals.
  • The program aims to enhance business competitiveness, accelerate technology development, and create new jobs.
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 Sen. Cortez Masto, Catherine [D-NV].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

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