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Inventor And Co Founder Of Qualcomm Surges Support Of High Tech Small Business Program
Written by Jenna Weiner
Qualcomm co-founder and inventor Irwin Mark Jacobs is urging to approve more funding for the Small Business Innovation Research program.
In his most recent State of the Union address, President Barack Obama had some welcome technology news for entrepreneurs, calling for an increased focus on innovation to help spur economic recovery.
To build on this message, Irwin Mark Jacobs, co-founder of Qualcomm and a renowned inventor, is pushing Congress to increase support for the Small Business Innovation Research program, Politico reports.
Jacobs will testify Thursday before the Senate Small Business and Entrepreneurship Committee on his experience with the program, which awarded his company $1.5 million in grants when Qualcomm was launched in 1985.
"With one of the grants, we developed some of the first chips we did at Qualcomm, if not the first," Jacobs told the source. "Of course, making chips for cellphones is about two-thirds of our revenue today, and that was the base."
The Small Business Innovation Research program is offered through the U.S. Small Business Administration Office of Technology and provides qualified small businesses with approximately $2 billion in grants.
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