SBIR Has Supported Technology Critical For U.S. Growth and Security
WASHINGTON, D.C. - U.S. Sen. Sherrod Brown (D-OH) today announced that Euclid TechLabs, LLC of Solon will receive nearly $750,000 in small business research and development grants. The funds will be delivered through the Small Business Innovation Research (SBIR) and Small Business Technical Transfer (STTR) grant programs through the U.S. Department of Energy.
“Small businesses are the engines of our nation’s economy, creating up to two-thirds of new jobs,” Brown said. “With the help of SBIR and STTR grants, innovators and entrepreneurs at companies across Ohio and our country are helping to develop clean energy technology, create life-saving medical devices, and take other technological strides that will change and improve American lives. That’s why it’s so critical that when the Senate returns from recess, we immediately pass a long-term extension of the SBIR/STTR program.”
Euclid TechLabs, LLC received five grants totaling $749,170 to help develop a variety of projects. Euclid TechLabs is a high-tech research and development company specializing in the development of advanced dielectric materials for particle accelerator, communications, radar and other microwave applications.
The SBIR/STTR program is scheduled to expire May 31, 2011. Reauthorization of the SBIR/STTR program has been on the Senate floor since early March, but has been stalled with unrelated amendments. The pending expiration and a number of short-term extensions over the previous years has created a climate of uncertainty that is not conducive for small business job growth.
SBIR is a competitive program that encourages American-owned and independently operated small businesses to reach their technological potential by awarding them crucial funds to aid in a technology’s startup and development stages. Together with the STTR program, the SBIR program, originally created under President Ronald Reagan, has delivered more than $233 million to 244 Ohio small businesses to develop innovative technologies and grow and create jobs over the previous three decades.
By including qualified small businesses in the nation's Research and Development arena, high-tech innovation is fostered, jobs are created, and the United States gains entrepreneurial spirit as it meets its specific research and development needs.
SBIR specifically targets the entrepreneurial sector because that is where most innovation and innovators thrive. However, the risk and expense of conducting serious R&D efforts are often beyond the means of many small businesses, which is why SBIR funding is so important.