H.R. 9050: Small Business Innovation Voucher Act of 2026

This bill, known as the Small Business Innovation Voucher Act of 2026, aims to establish a new program called the Innovation Voucher Grant Program. Here is a breakdown of what the bill involves:

Program Establishment

The Administrator of the Small Business Administration (SBA) is required to set up the Innovation Voucher Grant Program within 180 days of the bill’s enactment. This program will provide competitive grants to small businesses to help them cover the costs of purchasing technical assistance and services from eligible institutions.

Eligible Entities

To qualify for the program, small businesses can seek help from:

• Institutions of higher education, like universities.
• Nonprofit research organizations, labs, or similar establishments involved in educational or research activities.

Purpose of the Program

The main objectives of the grant program are to:

• Encourage collaboration between small businesses and research institutions.
• Facilitate access for small businesses to advanced research facilities and infrastructure.
• Provide small businesses with technical expertise to develop innovative products.
• Promote competition and dynamism in the business sector.
• Support U.S. leadership in research and technology.
• Accelerate workforce development in advanced sectors.
• Create and preserve jobs.

Grant Application Process

Small businesses wishing to apply for a grant must submit an application that identifies the eligible entity from which they will purchase services. The SBA will select grant recipients within 180 days of the application deadline.

Evaluation Criteria

When evaluating applications, the SBA will consider factors such as:

• The likelihood that the grant funds will lead to new or advanced products or services.
• The feasibility of achieving the outcomes proposed in the application.
• Whether the project could happen without the grant funding.

Grant Amounts

Grants will range from a minimum of $15,000 to a maximum of $75,000. The amount awarded will dictate the federal contribution:

• If the grant is under $50,000, the federal share can cover up to 75% of costs.
• If the grant is $50,000 or more, the federal share can cover up to 50% of costs.

Reporting Requirements

Grant recipients must submit a report after completing their project, explaining how the project met its goals and how it improved their innovation practices. The SBA must also submit regular reports to congressional committees detailing the progress and impact of the program.

Funding Authorization

The bill authorizes the allocation of $10 million per year from fiscal years 2026 through 2030 to support the program. A maximum of 5% of this funding may be allocated for administrative expenses related to the program.

Relevant Companies

None found