Small Business Innovation Voucher Act of 2025
Summary
The Small Business Innovation Voucher Act of 2025 aims to foster collaboration between small businesses and research institutions by establishing an Innovation Voucher Grant Program. This program, administered by the Small Business Administration (SBA), would provide grants to small businesses to purchase technical assistance and services from eligible entities like universities and non-profit research labs. The goal is to advance research, development, and commercialization of innovative products and services.
The Act authorizes $10 million annually from 2026 through 2030 for the program. Grants would range from $15,000 to $75,000, with the federal share covering up to 75% of costs for smaller grants and 50% for larger ones.
The Administrator is required to submit reports to Congress on the program's impact, including knowledge transfer and commercialization outcomes.
Expected Effects
If enacted, this bill would create a new avenue for small businesses to access resources and expertise needed for innovation. It would likely lead to increased collaboration between small businesses and research institutions. This could stimulate economic growth and job creation in the technology and research sectors.
Potential Benefits
- Promotes Innovation: Encourages the development of new products and services by small businesses.
- Facilitates Collaboration: Connects small businesses with research institutions for technical assistance.
- Economic Growth: Stimulates business dynamism and competition, potentially leading to job creation.
- Workforce Development: Accelerates the development of an advanced workforce through exposure to new technologies.
- Access to Resources: Provides small businesses with access to capital-intensive infrastructure and advanced research capabilities.
Potential Disadvantages
- Administrative Burden: Establishing and managing the grant program could create administrative overhead for the SBA.
- Limited Funding: The authorized funding of $10 million per year may be insufficient to meet the demand from eligible small businesses.
- Potential for Inefficiency: Some projects funded by the grants might not result in commercially viable products or services.
- Reporting Requirements: Small businesses receiving grants will have to fulfill reporting requirements, which may be burdensome.
- Uncertainty of Impact: The actual impact on knowledge transfer and commercialization is difficult to predict and measure accurately.
Constitutional Alignment
The bill appears to align with the spirit of the Constitution, particularly the clause promoting the general welfare (Preamble). Congress has the power to appropriate funds for programs that support economic growth and innovation, as outlined in Article I, Section 8, which grants Congress the power to lay and collect taxes, duties, imposts and excises, to pay the debts and provide for the common defense and general welfare of the United States.
The bill does not appear to infringe upon any specific constitutional rights or limitations. The program is designed to support small businesses and promote innovation, which falls within the scope of Congress's enumerated powers.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).