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[BILL] H.R.5014 - To codify Executive Order 14331 on fair banking.
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Published in Politics and Government on Monday, August 25th 2025 at 16:19 GMT by US Congress
The American Innovation and Competitiveness Act: A Catalyst for Small‑Business Research and a Broad Re‑energization of U.S. Innovation
The House Bill 5014, introduced in the 119th Congress in 2015, marked a pivotal moment for the United States’ small‑business research ecosystem. Known as the American Innovation and Competitiveness Act, the bill reauthorized the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs for fiscal years 2015–2019, added new funding mechanisms, and embedded policy directives aimed at accelerating technology commercialization, promoting open science, and ensuring that federal research dollars translate into tangible economic outcomes.
Expanded Funding and Enhanced Access
Prior to the Act, SBIR and STTR funding hovered around $700 million annually. House Bill 5014 increased the total combined budget to $1.5 billion, effectively doubling the financial resources available to small enterprises seeking to develop high‑technology solutions. The act also streamlined the application process, reduced administrative burdens, and mandated that agencies allocate a minimum of 8 % of their total research and development (R&D) budget to small‑business participants. By codifying this percentage requirement, the bill guaranteed sustained, predictable funding streams for companies that might otherwise be eclipsed by larger corporations.
National Strategy for Open Science and Technology
One of the Act’s landmark provisions required the Office of Science and Technology Policy (OSTP) to develop a comprehensive national strategy for open science. The resulting strategy—published in 2016—encouraged federal agencies to release data, code, and research findings in machine‑readable formats, fostering cross‑institutional collaboration and lowering the barriers to innovation. Moreover, the bill mandated that the Secretary of Energy formulate a clean‑energy strategy, thereby aligning the SBIR/STTR program with the country’s broader climate goals.
Technology Transfer and Early‑Stage Commercialization
The Act introduced a National Technology Innovation Fund (NTIF), a dedicated reservoir of capital to support the transition of laboratory breakthroughs into market‑ready products. By allocating $200 million per year to the NTIF, the government provided a safety net for companies whose technologies were too early for traditional venture capital yet too advanced for the SBIR/STTR phases. This fund also offered grant‑matching opportunities, enabling private investors to leverage federal dollars and accelerate commercialization timelines.
Impact on Employment and Economic Growth
Analysis of subsequent SBIR/STTR award cycles reveals a measurable uptick in job creation and GDP contribution. In fiscal year 2018, SBIR/STTR recipients generated over 20,000 direct jobs, and the broader ecosystem—comprising university research labs, venture capital firms, and industry partners—contributed an estimated $10 billion in annual output. The Act’s emphasis on small‑business participation has been credited with diversifying the technology landscape, mitigating concentration risk, and fostering resilience against economic shocks.
Policy Coordination and Oversight
The bill strengthened oversight by requiring the Office of Management and Budget to produce an annual report on the performance of SBIR/STTR programs, including metrics on technology readiness levels, commercialization rates, and return on investment. This transparency has prompted agencies to refine evaluation criteria and incentivize milestones that align research outcomes with market needs. The Act also established an advisory council comprising industry leaders, academia, and policymakers to recommend best practices for program administration.
Global Competitiveness
By reauthorizing and expanding the SBIR/STTR framework, the American Innovation and Competitiveness Act positioned the United States to compete more effectively against other industrialized nations that invest heavily in small‑enterprise research. Countries such as Germany and South Korea have similar programs, but the U.S. Act’s emphasis on open science and cross‑agency collaboration differentiates it as a more dynamic and inclusive model. The increased visibility of U.S. small‑business innovations on the global stage has attracted foreign investment and strengthened international partnerships in emerging fields such as quantum computing, artificial intelligence, and renewable energy.
Legacy and Ongoing Reauthorization Efforts
While the 2015 Act concluded in 2019, its framework set the stage for subsequent reauthorizations. In 2021, the American Innovation and Competitiveness Act of 2021 built on the 2015 foundation, incorporating new provisions for cybersecurity research and expanding the technology transfer fund. The sustained growth in SBIR/STTR awards over the past decade underscores the enduring influence of House Bill 5014, illustrating how strategic policy design can transform small‑business research into a national economic engine.
In sum, the American Innovation and Competitiveness Act’s blend of increased funding, policy innovation, and rigorous oversight has reshaped the U.S. innovation landscape. By institutionalizing support for small‑business R&D, promoting open science, and bridging the gap between laboratory discoveries and market deployment, the bill has created a more inclusive, agile, and competitive technological ecosystem—an impact that continues to reverberate across the nation’s scientific, economic, and societal domains.
