The Small Business Innovation Research ('''SBIR''') was established in 1982.
SBIR was assigned 4
"societal objectives ":
*(1) to stimulate technological innovation;
The Small Business Technology Transfer ('''STTR''') program was established in 1992.
Goal: build on SBIR expansion of public/private sector partnerships between small businesses and nonprofit U.S. research institutions5 federal agencies meet requirements for providing STTR funding (see funding structure) Participating agencies:
*Department of Defense
*Department of Energy
: Requires agencies with extramural R&D budget of >$100 million ( 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. 3% extramural budget
Eligibility : Must operate in US 500 or fewer employees Ownership structure: more than 50% by one or more indiv. Who are US citizens (Or owned by another business who meets above criteria) Newer provision: majority owned by multiple VC's hedge funds, equity funds