New book by Larry Connors Click here Improve your trading - See how
Congresswoman Donna F. Edwards Votes for the Enhancing Small Business Research and Innovation Act
Rep. Edwards Urges Changes in Conference Committee Regarding Venture Capitol Funding and Reiterates Concern that Funding for NIH is Being Withheld from the SBIR Program
Washington, D.C. - Congresswoman Donna F. Edwards (D-MD) today voted for the Enhancing Small Business Research and Innovation Act of 2009, H.R. 2965, which passed the House 386-41. The Small Business Research and Innovation Act is part of a long-term economic blueprint to spur job creation by encouraging America's entrepreneurs to innovate toward breakthrough technological advancements.
The bill encourages more small businesses to apply to the Small Business Innovation Research (SBIR) program and the Small Business Technology Transfer (STTR) program by more than doubling the amount of grants, and expands the pool of businesses by reaching out to rural entrepreneurs, veterans, minorities, and women.
"Small businesses are the cornerstone of our economy, and their ability to sustain and create new jobs is critical to the economic health of my district and the nation," said Rep. Edwards. "Congress is committed to supporting the small business community and assisting them in employing cutting-edge research that will raise capital. I am pleased this bill will expand and streamline the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, allowing more small businesses to apply for grants and using taxpayer dollars more efficiently. It is critical that we continue to support small business research and development especially during these difficult economic times."
"While I voted for this bill to help support our small businesses, I am concerned about provisions that may inadvertently allow companies that are backed by venture capital to crowd out businesses that have not received the same private financing. I was looking forward to supporting an amendment to this bill offered by my colleague, Representative Edward J. Markey (D-MA), which would have limited venture capital involvement in firms receiving grants to a reasonable level. Unfortunately, the Rules Committee did not make his amendment in order. I look forward to working with my colleagues in Congress to remedy this shortcoming when this bill enters a conference committee.
"Additionally, I have unresolved concerns about how stimulus funding appropriated by Congress to the National Institutes of Health are being withheld from the SBIR program. SBIR stimulus funding is critical to enable small, high-tech companies to continue operating and stay competitive during this economic downturn.
"I believe in strengthening our SBIR and STTR programs, and while this bill was not perfect, I was pleased to take this necessary step toward ensuring that these valuable programs are continued and expanded."
Since its inception, SBIR has been at the cutting edge of research and technology, awarding 65,000 grants to small companies researching cures for diseases, strengthening our national defense and reducing our dependence on foreign energy sources, and helping jumpstart 1,500 new firms every year. To expand the SBIR and STTR, this bill will:
* Broaden the pool of businesses that participate through outreach efforts to rural entrepreneurs, veterans, minorities, and women;
* Double the amount of grants small businesses can apply for;
* Put a greater emphasis on helping small businesses bring new products to the market, creating additional opportunities for job growth; and
* Make it easier for small businesses to find capital, and allow those businesses to decide how they raise that capital.
Additional information regarding the SBIR and STTR programs is available through the Small Business Administration at http://www.sba.gov.
Contact: Dan Weber (202) 225-8699
###
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
