Federal Grants for VC-Backed Firms

Small venture capital-backed companies will be eligible to compete for up to 25% of Small Business Innovation Research grants under an amendment to the "Small Business Administration Reauthorization Act." The Senate Small Business & Entrepreneurship Committee on July 27 approved the amendment, offered by Sen. Kit Bond (R-MO). The amendment is "compromise language," says Bond, who introduced the "Save America's Biotechnology Innovation Research Act" (S 1263) in response to a 2004 Small Business Administration regulation making companies that are 51% or more VC-backed ineligible for SBIR grants.

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