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Innovator Support: Faster Patents and Increased Funding for Technology Commercialization

This Act aims to help small businesses and innovators bring new technologies to market faster by improving the SBIR and STTR programs. It establishes a prioritized, fee-free patent examination program for award recipients, accelerating intellectual property protection. Furthermore, it increases the financial limits for technical and business assistance, helping companies transition from research to product sales.
Key points
Prioritized Patent Review: Small businesses receiving SBIR/STTR grants will get a faster, fee-free path to obtaining patents, protecting their innovations quickly.
Increased Business Assistance Funding: Funding limits for technical and business assistance are raised (up to $6,500 in Phase I and $50,000 in Phase II), including support for hiring staff and cybersecurity.
Mandatory Commercialization Assessment: The peer review process for SBIR/STTR projects must now include the likelihood of commercialization, not just scientific merit.
New Technology Commercialization Officials: Each federal agency must designate an official to assist companies in transitioning from research to commercial contracts (Phase III).
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Additional Information
Print number: 118_S_1396
Sponsor: Sen. Coons, Christopher A. [D-DE]
Process start date: 2023-05-02