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Through the SBIR program, 11 federal agencies set asid atleast 2.5 percent of their outsidew research and development budgets for smalol businesses. More than $24 billion has been awarded to morethan 100,00o projects since 1982. In 2003, an administrativde law judge ruledthat VC-controlled firms did not qualify as small businesses, knocking them out of considerationm for SBIR awards. VC-owned firms have been pushiny Congress to restore their ability to competer for SBIR awardsever since.
In the House Small Business Committee is considering legislation that would make small companies owned by venture capital firms eligible for SBIR awards as long as no single VC firm has a majorityg stake inthe company. VC firms controlled by larg businesses couldn’t own more than 20 percent of SBIR-eligiblew companies under the House bill.
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