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Small Business Support: Innovation, Investment, and Growth

This act aims to facilitate small businesses' access to innovation and development support programs like SBIR and STTR. It introduces changes that can help small enterprises secure funding and increase their participation in government projects, potentially leading to new jobs and economic growth.
Key points
Easier access for small businesses to innovation programs (SBIR/STTR), potentially increasing their chances of securing government contracts.
Inclusion of Small Business Investment Companies (SBICs) in support programs, opening new funding avenues for small enterprises.
New rules for calculating leverage for investment firms supporting innovative small businesses, potentially encouraging more investments.
Requirement for annual meetings of federal agencies to streamline support programs and increase participation from underrepresented groups.
Increased outreach and technical assistance for businesses in regions historically receiving fewer innovation program awards.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_S_4158
Sponsor: Sen. Padilla, Alex [D-CA]
Process start date: 2022-05-05
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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

Encouraging Small Business Innovation Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_4158.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-05-05.

What are the main provisions?

Key points include:

  • Easier access for small businesses to innovation programs (SBIR/STTR), potentially increasing their chances of securing government contracts.
  • Inclusion of Small Business Investment Companies (SBICs) in support programs, opening new funding avenues for small enterprises.
  • New rules for calculating leverage for investment firms supporting innovative small businesses, potentially encouraging more investments.
  • Requirement for annual meetings of federal agencies to streamline support programs and increase participation from underrepresented groups.
  • Increased outreach and technical assistance for businesses in regions historically receiving fewer innovation program awards.
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. Padilla, Alex [D-CA].

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.

CATEGORIES

Economy Public Investments