Summary#
This bill would require the Small Business Administration (SBA) to set up an "Innovation Voucher Grant Program." The program would award competitive grants to small businesses to pay part of the cost of buying technical assistance and services from eligible entities (like colleges or nonprofit research labs). Grants must be between $15,000 and $75,000. The federal share of the cost is up to 75% for grants under $50,000 and up to 50% for grants of $50,000 or more. The SBA must create the program within 180 days of the law taking effect.
What it means for you#
- Small businesses can apply for funding to buy research, testing, or technical work from colleges, universities, federally funded research centers, or nonprofit research organizations.
- Applications must be submitted with the eligible entity that will provide the services. Grants are awarded on a competitive basis.
- Grant recipients must report on their project within 180 days after the project ends, describing results and how the work was used in the business.
- The SBA will report to congressional small business committees every two years about the grants and their effects until program funds are used up.
Expenses#
- The bill authorizes $10,000,000 per year for each of fiscal years 2026 through 2030, to remain available until expended.
- Up to 5 percent of those appropriated amounts may be used for administrative costs.
- Individual grants must be at least $15,000 and no more than $75,000.
- Federal cost-sharing: up to 75% federal share for grants under $50,000; up to 50% federal share for grants of $50,000 or more.
- No other cost or savings estimates are included in the bill text.
Proponents' View#
The bill states the program is intended to:
- foster collaboration between small businesses and research institutions;
- give small firms access to expensive infrastructure and advanced research capabilities;
- help small businesses get technical expertise to develop innovative products;
- promote business dynamism and competition;
- support U.S. leadership in advanced research and technology;
- speed development of an advanced workforce; and
- preserve and create jobs.
Opponents' View#
No publicly available information.