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The INNOVATE Act (S. 853), introduced by Senator Joni Ernst (R-IA) and Roger Williams (R-TX), significantly undermines the merit-based approach in SBIR and STTR that have been so successful in developing critical technologies for the warfighter, space exploration, and the healthcare professional. If enacted without critical modifications, SBIR funding would be nearly exclusively captured by established, well-funded, VC-backed companies that will exploit the SBIR program for taxpayer money to leverage VC investments.
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