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Small Business Innovation Vouchers: Grants for New Product Development

This Act establishes an Innovation Voucher Grant Program for small businesses, allowing them to receive funding to purchase specialized technical assistance and services from universities or research labs. The goal is to foster the development of new products and services, stimulating innovation, creating jobs, and enhancing U.S. economic competitiveness. Citizens can expect new, innovative products and services in the market and increased employment opportunities.
Key points
Small businesses can receive grants ranging from $15,000 to $75,000 for developing innovative products and services.
Funding covers a portion of the costs for technical assistance and services purchased from research institutions or higher education entities.
The program aims to boost collaboration between business and academia, facilitate access to advanced technologies, and create new jobs.
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Introduced
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Additional Information
Print number: 119_S_3415
Sponsor: Sen. Cortez Masto, Catherine [D-NV]
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Small Business Innovation Voucher Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_3415.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

What are the main provisions?

Key points include:

  • Small businesses can receive grants ranging from $15,000 to $75,000 for developing innovative products and services.
  • Funding covers a portion of the costs for technical assistance and services purchased from research institutions or higher education entities.
  • The program aims to boost collaboration between business and academia, facilitate access to advanced technologies, and create new jobs.
What is the specific legal status?

The current status is Introduced.

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 2026-01-11.

CATEGORIES

Economy Public Investments