05.04.01

Senator Maria Cantwell Working to Ensure Continued Federal R&D Investment in Small Businesses

WASHINGTON, DC - U.S. Senator Maria Cantwell (D-WA), a member of the Senate Small Business Committee, today cosponsored the Small Business Technology Transfer (STTR) Program Reauthorization Act of 2001. This program brings together the ingenuity of non-profit research institutions and the innovation of small businesses.

The STTR program funds cooperative research and development projects between small businesses and universities or nonprofit research institutions. Unless it is reauthorized, STTR will expire on September 30, 2001. This legislation would extend the program to the year 2010.

"Reauthorization of the STTR program is critically important to small business development in Washington state because it combines theoretical research of nonprofit institutions with the entrepreneurship of small businesses," Cantwell said.

The STTR program mitigates the risk of the extensive research and development costs to small businesses by leveraging the commercial value of nonprofit research. The STTR program is one innovative way to meet the scientific and technological challenges of the changing economy.

Cantwell noted, "Washington state has been extremely successful at leveraging STTR grants and has received 54 of them in the last five years for work in biotechnology, medicine, fluid mechanics, chemistry, electronics and computer technologies."

"The success of STTR in Washington state is a testament to our entrepreneurial spirit," said Cantwell. "Only 25 years ago a small company called Microsoft opened its doors, today it is one of Washington's largest employers. We ought to foster new businesses to be the Microsofts of tomorrow."