Science and Technology Innovation Act of 2008 - Amends the Small Business Act to: (1) extend through FY2010 the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs; (2) increase SBIR and STTR set-asides and award levels; (3) prohibit a small business from being excluded from SBIR or STTR program participation due to being owned by more than one equity provider, as long as no single equity provider owns more than 49% of such business; (4) require agency database updates in order to support SBIR and STTR program evaluation and technology utilization; (5) establish an Interagency SBIR/STTR Policy Committee; (6) allow federal agencies to use up to 3% of their SBIR funds for the payment of administrative costs; (7) allow SBIR technical assistance to include the implementation of manufacturing processes and production strategies for utilization; (8) allow federal agencies participating in the SBIR program to enter into agreements with the technical extension or assistance programs of other federal agencies in order to provide small business technical assistance; and (9) increase expenditure limits for the provision of such technical assistance.