FOR IMMEDIATE RELEASE
NATIONAL WOMEN’S BUSINESS COUNCIL RELEASES FINDINGS ON WOMEN’S PARTICIPATION IN AMERICA’S SEED FUND—A FEDERAL INNOVATION AND RESEARCH PROGRAM
NWBC and the U.S. Small Business Administration’s Office of Investment and Innovation (OII) Conduct a Study on the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs
WASHINGTON, D.C. – (August 12, 2020) – The National Women’s Business Council (NWBC), a non-partisan federal advisory committee created to serve as an independent source of advice and policy recommendations to the President, Congress, and the U.S. Small Business Administration on economic issues of importance to women business owners, commissions the first comprehensive study examining the factors that may influence women’s participation in the Small Business Innovation Research (SBIR)/Small Business Technology Transfer (STTR) programs—also known as America’s Seed Fund.
NWBC intends for this report to provide a baseline understanding of the inclusion of women entrepreneurs and female principal investigators in the advanced technology business realm funded by SBIR/STTR. The report also highlights targeted efforts to increase the involvement of women by the 11 funding agencies and SBA-funded entrepreneurial support organizations.
This study uses award-level administrative data provided by funding agencies to the SBA and is publicly available on SBIR.gov.
“Female business owners and entrepreneurs in all types of industries continue to grow in number and influence,” said NWBC Women in STEM Subcommittee Chair Monica Stynchula. “NWBC is committed to advocating for women in business, including STEM innovators and entrepreneurs, and this study will help inform the Council’s policy recommendations to Congress, the White House, and SBA set to be released later this year. Federal programs like SBIR and STTR give women the opportunity to innovate and launch or expand their enterprise.”
The SBIR and STTR programs provide $4 billion each year to a diverse portfolio of startups and small businesses. Eleven Federal agencies fund technology across sectors to stimulate technological innovation, meet Federal research and development (R&D) needs, and increase commercialization to transition R&D into impact.
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About National Women’s Business Council The National Women’s Business Council (NWBC) is a non-partisan federal advisory committee created to serve as an independent source of advice and policy recommendations to the President, Congress, and the U.S. Small Business Administration on economic issues of importance to women business owners. To learn more, please visit: www.NWBC.gov.
About the SBIR and STTR Programs The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs are highly competitive programs that encourage domestic small businesses to engage in Federal Research/Research and Development (R/R&D) with the potential for commercialization. Through a competitive awards-based program, SBIR and STTR enable small businesses to explore their technological potential and provide the incentive to profit from its commercialization. By including qualified small businesses in the nation’s R&D arena, high-tech innovation is stimulated, and the United States gains entrepreneurial spirit as it meets its specific research and development needs. Central to the STTR program is the partnership between small businesses and nonprofit research institutions. The STTR program requires the small business to formally collaborate with a research institution to bridge the gap between performance of basic science and commercialization of resulting innovations.