 SBIR Insider Newsletter - Update March 10, 2010 Edition
You made a difference! In our last issue (yesterday..) we told you about Nydia Velazquez (House Small Business Committee's chair) and her outrageous comment about small businesses without VC backing (see www.zyn.com/sbir/insider/sb-insider03-09-10.htm). The outrageous comments were part of her small business committee's congressionally mandated Views & Estimates document sent to John M. Spratt, Jr. (D-SC), Chair of the House Committee on the Budget. The Views & Estimates document was brought before the House small business committee for a markup hearing on March 4, 2010. No amendments were offered and the document was accepted by unanimous consent. The document passed by the House on March 4, 2011 (see www.youtube.com/watch?v=wqpaazIjPVw&feature=PlayList&p=30A257FFBAA6C7BB&index=2 ) contained the following view stated by Velazquez: "Without the participation of venture-backed companies, the SBIR program has become little more than corporate welfare for marginal companies who are unable to secure external market-based funding."This created such as response by the small business community that Velazquez changed her remarks in a letter dated March 11, 2010 (but sent on March 10) that now reads: In addition, SBA should permit venture capital-backed small businesses to be able to fully participate in the Small Business Innovation Research program. Such participation is essential for high-growth small firms seeking capital, particularly during this period of economic weakness. In the March 4 hearing, Velazquez made a motion that the committee be able to correct punctuation and to make other necessary technical corrections on the document. They did a lot of "correcting", and many of you are responsible for the SBIR "corrections." Keep up the good work. Thanks again for your time.
Sincerely,
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