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Programs fund innovative research and development at small businesses, including in Colorado

This week, U.S. Senator John Hickenlooper applauded the unanimous Senate passage of a three-year reauthorization of the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs.

John Hickenlooper. Image courtesy of his Twitter feed

These programs help small businesses engage in research and development with the end goal of commercialization. SBIR and STTR allow small businesses to explore their technological potential, facilitate technology transfers between research institutions and small businesses, and help keep the United States globally competitive.

“Small businesses are the heart of American innovation,” said Hickenlooper. “Programs like these help Colorado small businesses bring their innovations to market and make us a leader in everything from aerospace to clean energy.

In January, Hickenlooper announced that seven Colorado small businesses would receive $2 million in funds from the SBIR and STTR programs for climate technologies and innovation. In 2019 alone, Colorado received 332 SBIR and STTR awards worth $165 million, the fifth highest amount of any state.

For more information on the SBIR and STTR programs, follow this link.