CBSA Remains Active on the Critical Need to Reauthorize Vital SBIR/STTR Programs for Life Sciences
By: Colorado BioScience Association Date: 09/16/2022
Act Today and Tell Your Member of Congress to Support Vital SBIR/STTR Programs for Life Sciences
The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs are critical sources of non-dilutive financing for early-stage life sciences companies in Colorado. The programs fund scientific excellence and technological innovation through the investment of federal research dollars in critical American priorities. They also contribute to a strong economy at the federal and state level. Most importantly, they advance breakthroughs that reinforce America’s global leadership in science and technology.
CBSA continues to advocate for the reauthorization of the SBIR and STTR Programs. Without action by Congress, the programs will expire on September 30, 2022. As part of a nationwide effort led by our partners at BIO, CBSA is working to mobilize Colorado’s life sciences community.
Please take a few minutes to take action and write a letter to your member of Congress using our interactive email tool.
Why It Matters
These programs are critical to Colorado small businesses and life sciences companies and it is important we act today and prevent these vital programs from expiring on September 30th.
- They provide early, non-dilutive funding to advance high-risk, early-stage innovative research.
- Year after year, these programs make a positive impact on Colorado’s economy by funding life-saving breakthroughs for patients, supporting small businesses, and creating jobs.
- The programs have had a significant impact on Colorado’s life sciences growth. Our state has received more than 6,035 awards totaling more than $2.76 billion dollars since program inception.
- Nationally, the programs have provided more than 179,000 awards totaling more than $54.3 billion to U.S. small businesses since 1982.
- Federal R&D funding also provides a basis for scientific and technical validation, which attracts private investment and supports small businesses developing new therapies for patients.
How CBSA is Engaging with Members of Congress
CBSA authored a letter with Colorado business leaders expressing the vital need for reauthorization of the SBIR/STTR programs. CBSA continues to collaborate with members and industry partners to voice our concerns and educate lawmakers about how these policies will limit patient access and stifle medical innovation. This advocacy work represents our commitment to Capital + Growth opportunities for our ecosystem. Through our Capital + Growth efforts, we work closely with public and private partners to accelerate investment in life sciences companies at all stages of commercialization.
How You Can Help
Please email your members of Congress and share this request with your life sciences colleagues.
Now more than ever, before we need your voice and engagement to help make the case and emphasize the importance of these critical programs.