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Small Business Innovation Research (SBIR) Program
The Small Business Innovation Research (SBIR) program is a highly competitive program that encourages domestic small businesses to engage in Federal Research/Research and Development (R/R&D) that has the potential for commercialization. Through a competitive awards-based program, SBIR enables small businesses to explore their technological potential and provides 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.
Business owners aren't always aware of all the resources the government makes available for them. For example, the Department of Commerce has tools to directly help companies at every point in the business life cycle. And we’re particularly focused on helping the small and medium-sized businesses that create over half of all new jobs.
Startups, newly established and growing small businesses now have a new source of financing backed by the U.S. Small Business Administration as 20 community organizations have been funded by SBA to start making loans up to $200,000 to qualifying small businesses.
Authorized under the Small Business Jobs Act of 2010, the new Intermediary Lending Pilot Program will provide direct loans up to $1 million to 20 community organizations or intermediaries in fiscal year 2011, which in turn will use those funds to help finance small businesses, mostly in underserved markets.
In 2010, MBDA achieved substantial agency wide level results including several that were of historic nature. Establishment of the first MBDA-led National Advisory Council in nearly 40 years In early 2010, MBDA petitioned U.S. Department of Commerce Secretary Gary Locke to establish a secretarial-level advisory council on minority business enterprises. On November 3, 2010, the Secretary approved the creation of the National Advisory Council for Minority Business Enterprise (NACMBE).
MBDA Achieved Record Performance in 2010
In FY 2010, MBDA experienced the most productive year in the history of the Agency. MBDA created 6,397 new jobs across the nation and saved tens of thousands of existing jobs by helping minority-owned and operated businesses obtain 964 contracts, totaling $1.688 billion, and 522 financial awards, totaling $2.264 billion.