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Venture Funding and the NIH SBIR Program
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The Small Business Innovation Research (SBIR) program was created in 1982 through the Small Business Innovation Development Act. SBIR offers competition-based awards to stimulate technological innovation among small private-sector businesses while providing government agencies new, cost-effective, technical and scientific solutions to meet their diverse mission needs.”1 During the first two decades of the program, some majority venture-funded companies participated in the program, receiving SBIR awards in conjunction with outside equity investments. During this lengthy period, the participation of majority venture-funded firms was not an issue. They participated in the SBIR program throughout this period without any apparent adverse consequence for the operation and achievements of the program
978-0-309-12997-8
NONE
Management
English
2009
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