Encouraging Small Business Innovation Act
This bill expands and otherwise revises certain requirements for Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Programs. Specifically, it includes small business investment companies (SBICs) in such programs.
SBICs are included as a type of investor whose investment must be considered for various purposes under the programs.
The bill requires the Small Business Administration (SBA), when calculating the outstanding leverage of an SBIC, to exclude investments made in SBIR and STTR participants. Under current law, SBICs are subject to a limit on their outstanding leverage.
Finally, the bill sets forth provisions to increase participation of states to which a low level of SBIR awards have historically been awarded.