Small Business Finance News

New Funding For Innovative Small Businesses, Thanks To The Senate

Written by Jenna Weiner
Published: 12/28/2010

Funding extended through 2018 for the Small Business Innovation Research Program and the Small Business Technology Program

Small businesses in the science and innovation field got good news recently when the U.S. Senate reauthorized two National Science Foundation programs, aimed at helping entrepreneurs gain access to capital.

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In one of the final moves of the year, the Senate passed a bill which will extend funding for the Small Business Innovation Research Program and the Small Business Technology Program, both of which were established in order to help small businesses get better access to federal dollars and development funds. Thanks to the passage, the program will be funded through 2018, after relying on short-term funding to solve the issue.

The funding will go toward four specific categories, which are considered more risky than other industries. These include information and communication technologies, nano and advanced materials, and manufacturing and education applications.

Other organizations have been working to help small businesses with innovation. The Massachusetts High Technology Council recently made news for small business when it joined forces with the North Shore Technology council to help entrepreneurs in the Bay State through their partnership.

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