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Division of Small Business

Coons co-sponsors bill to expand opportunities for entrepreneurs

New legislation would expand eligibility for a National Science Foundation program for entrepreneurs.

Bi-partisan legislation introduced by U.S. Sens. Chris Coons of Delaware and Todd Young of Indiana would make more entrepreneurs eligible for a federal program that helps them translate their research into commercially viable products.

Under the Innovators to Entrepreneurs Act of 2018 introduced Tuesday, scientists and engineers who have received either a Small Business Innovation Research (SBIR) grant or a Small Business Technology Transfer (STTR) grant from any federal agency would be eligible to apply to participate in the National Science Foundation’s Innovation Corps program.

This could have benefit entrepreneurs in Delaware, where more than 300 companies were awarded SBIR or STTR funding from Jan. 1, 2009 to June 30, 2018.

The I-Corps program works with engineers and scientists to help them convert their research into commercially successful products. The seven-week program provides advice and networking opportunities, among other resources.

“Training our most promising entrepreneurs to navigate the transition from the laboratory to the marketplace supports U.S.-grown startups and small businesses and increases our competitiveness on the global stage,” Coons said in a news release. “We wisely invest billions of taxpayer dollars every year into scientific research and development, and this legislation builds a bridge for our best research to directly benefit society.”

Click here to read more about the legislation.

The Delaware Division of Small Business administers SBIR and STTR grants through the Delaware Strategic Fund.

Contact us to see how we can help you start or grow your business in Delaware.

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