Changes

SBIR was assigned 4 "societal objectives":

Goal: The goal of establishing STTR was to build on SBIR expansion of public/private sector partnerships between small businesses and nonprofit U.S. research institutions.There are 5 federal agencies meet requirements for providing STTR funding (see funding structure)Participating agencies:

SBIR:Requires requires agencies with extramural R&D budget of >$100 million to set aside a funds (extramural defined as funding provided to research institutions [outside NIH]) Funding: % of FY budget 2.5% 2012 increased 0.1% until 3.2% in 2017 (current level = 3.2% FY2017) STTR: agencies exceeding $1billion must set aside 0, where extramural is defined as funds provided to research institutions [outside NIH].3% extramural budget

EligibilitySTTR requires agencies exceeding $1billion to set aside 0.3% of their extramural budget. To qualify for an SBIR grant, applicants must: Must (1)operate in US (2)500 or fewer employees Ownership structure: (3) have more than 50% owned by one or more indiv. Who individuals who are US citizens (Or owned by another business who meets above criteria) . Newer provision: provisions allow eligibility for businesses with majority owned by multiple VC's hedge funds, equity funds. ==Oversight==The Small Business Association (SBA) is responsible for establishing the policies and procedures. SBA is required to submit a report to Congress on program performance.