Small Business Innovation Research & Small Business Technology Transfer ProgramAugust 1, 2012
The main goal of the Small Business Innovation Research & Small Business Technology Transfer Program, or the SBIR/STTR Program is to stimulate technological innovation in the private sector. They have a variety of methods for doing this. Chief among them are stressing the importance of small business concerns in meeting federal research and development needs, increasing the mass media application of government supported research results, and fostering and encouraging participation by socially and economically disadvantaged people and women-owned small businesses in technological innovation.
The point of Small Business Innovation Research & Small Business Technology Transfer Program is mostly to increase the incentive and opportunity for small technological firms to do high risk/high reward, cutting edge, highly scientific research that could have a lot of great potential for large future economic payoff if the research is successful. Because of this, applicants probably wouldn’t be proved unless they had highly qualified and educated scientific minds prepared to do some cutting-edge, groundbreaking research.