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The New England Innovation Alliance (NEIA), an organization of entrepreneurial companies focused on transitioning innovative technologies to government and commercial use, strongly opposes the INNOVATE Act. The legislation, introduced by Senators Joni Ernst (R-IA) and Representative Roger Williams (R-TX), Chairs of the Senate and House Small Business Committees, would reauthorize the Small Business Innovation Research and Technology Transfer (SBIR/STTR) programs. The INNOVATE Act is a direct attack on the longstanding competitive, merit-based approach to the program and a give-away of hundreds of millions of dollars annually in non-dilutive capital to venture capital interests.
