Rep. Velazquez is chairwoman of the House Small Business Committee.

This year we celebrated Small Business Week in the face of harsh realities that come with an economic downturn.  But it is important to remember that the nation’s 26 million entrepreneurs have always led America’s way to economic recovery and sustained growth.

That was the case during the last slowdown, when the technology sector — led by small startups — provided the foundation for the booming economy of the 1990’s.  It can be true again today.

Over the past decades, research conducted by entrepreneurs in the Small Business Innovation Research (SBIR) and the Small Business Technology Transfer (STTR) programs has bolstered every area of American life.  The important contributions of these small research firms span such varied disciplines as national security, energy efficiency and public health infrastructure.

The measure that was before the House last week reauthorizes SBIR and STTR.  Together, the programs make up the largest government-wide R&D initiative, and they can help us emerge from weak economic times — yet again.  Just as importantly, the reauthorization will ensure these successful programs continue to spur innovation and job growth, while keeping America at the forefront of the global marketplace.

Our legislation modernizes SBIR/STTR.  It ensures small firms can contribute to our countries most pressing research and development challenges.  The bill recognizes that while many good ideas come from large companies and universities, it is American small businesses who are our primary source of innovation.  These entrepreneurs — not  just Boeing or MIT — develop the type of products and services that meet the needs of the new economy.

H.R. 5819 allows small businesses to continue bringing their critically important ideas from the laboratory to the marketplace.  The bill also offers targeted resources for technical assistance, and ensures small firms are not discriminated against because of their business model or type of financing.

Last, but not least, H.R. 5819 increases the number of SBIR and STTR applications from rural areas.  It also promotes participation by small businesses that are owned by women, service-disabled veterans and minorities.

Moreover, this reauthorization enables a greater number of small research companies to advance the sort of innovation that saves lives.  As a result, dozens of patients groups support the bill.  They include:  the ALS and Alpha-1 Associations, the Caring Voice Coalition, the Coalition of Heritable Disorders of Connective Tissue, the Cystic Fibrosis Foundation, the National Organization for Rare Disorders, Parent Project Muscular Dystrophy, and the Tuberous Sclerosis Alliance.

In passing this legislation we ensured that SBIR and STTR awards remain competitive, fund top-notch research, and continue producing cutting-edge breakthroughs.  There is no better way to celebrate Small Business Week than to support the work of entrepreneurs.  That is especially true when it means saving lives, creating high paying jobs for Americans, reducing our trade deficit, and getting our economy back on track.

This entry was posted on Monday, April 28th, 2008 at 10:26 am and is filed under Politics, Economy/Budget .