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House Co-Sponsorship Memoranda
House of Representatives
Session of 2023 - 2024
Regular Session
MEMORANDUM
| Posted: | June 25, 2024 03:36 PM |
|---|---|
| From: | Representative Paul Takac |
| To: | All House members |
| Subject: | Supporting PA Small Business Innovation, Research, and Technology Development |
| The federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs helps small businesses perform research and development. This research can later be commercialized and help grow these businesses. The SBIR and STTR programs have three phases and this step-by-step guidance and support can be game changing for small businesses. As of June 2021, 26 states had a program to match some portion of SBIR/STTR federal funds for Phase I or Phase II projects. It is time we back these growing PA businesses and match their investments. My legislation would match federal funds with state funds and demonstrate the General Assembly’s commitment to encouraging innovation and supporting our local economies. In 2023, Pennsylvania was home to over 200 SBIR/STTR federal recipients. A fund-matching program would be vital for these businesses, as such support is key for early-stage start-ups or product development cycles where matching funds and capital are often difficult to obtain otherwise. I hope you will co-sponsor this legislation to spur technological innovation and growth in our state and support our Pennsylvania small businesses. |
Introduced as HB2472