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Since its inception in 1982, small businesses have received over $3.194 billion in funding in SBIR awards alone. The STTR program, created in 1992 to encourage cooperative research between small businesses and research institutes, has extended this support by another $423.3 million in funding as of 2019. To read about some of the exciting projects and small businesses that the DOE has sponsored through SBIR and STTR, please visit Success Stories.
The major goals of the SBIR Program, established in 1982 by Public Law 97-219, are to:
- Stimulate technological innovation
- Use small businesses to meet Federal R/R&D needs
- Foster and encourage participation by the socially and economically disadvantaged small businesses, and those that are 51 percent owned by women, in technological innovation
- Increase private sector commercialization of innovations derived from Feder R/R&D, thereby increasing competition, productivity, and economic growth