Bipartisan Agreement To Restart Key Pentagon Funding Initiative

The Senate’s small business committee leaders have reached a deal to restart the Small Business Innovation Research program, a key tool for the Pentagon to fund new technologies. The new legislation, known as the Small Business Innovation and Economic Security Act, aims to reauthorize SBIR for five years and includes provisions to safeguard technology from Chinese influence. The bill also establishes an annual limit on applications to prioritize small businesses. The agreement comes after a months-long gridlock and is expected to move to the House for passage. The news was first reported by Breaking Defense.