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Last week, SSTI’s Innovation Advocacy Council chair Ben Johnson (also of BioSTL) testified before a subcommittee of the House Committee on Small Business about the role that innovation plays in job creation and how the U.S. Small Business Administration’s (SBA) Regional Innovation Clusters (RIC) and Growth Accelerators Fund Competition (GAFC) support these efforts.

The House Committee on Appropriations advanced its first FY 2022 funding bills this week. Included in the financial services bill was $10 million for each of the U.S. Small Business Administration’s three main innovation programs: Regional Innovation Clusters, Federal and State Technology Partnership (FAST), and Growth Accelerators Fund Competition.

The U.S. Small Business Administration (SBA) is soliciting nominations of qualified former and current small business owners, community leaders, officials from small business trade associations, and academic institutions to serve on the Council of Underserved Communities (CUC). The CUC is being restored to help support the SBA’s prioritization of equity across its programs and initiatives. SBA seeks candidates representing both urban and underserved communities.

This week the Small Business Administration (SBA) released several funding opportunities to support and promote equitable and inclusive economic recovery for entrepreneurs and small businesses. The new Community Navigator Pilot Program will award $100 million to support regional “hub and spoke” networks in providing technical assistance, training, direct financial assistance, and other services to underserved small businesses.

The U.S. Small Business Administration has announced the winners of two award programs. The Lab to Market (L2M) competition was launched in September and recognizes organizations, programs and ideas that support R&D innovation ecosytems, particularly those focused on underrepresented communities and pandemic responses. SBA also announced recipients of the annual Tibbetts Awards, which recognizes companies, organizations, and individuals for exceptional success achieved through the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs.

The final FY 2021 budget provides $1.4 trillion in total federal funding, including increases in some programs affecting the innovation economy. Among SSTI’s Innovation Advocacy Council priorities: EDA’s Build to Scale received an appropriation of $38 million, SBA’s Regional Innovation Clusters received $6 million, and SBA’s Federal and State Technology (FAST) program received $4 million. These are just a few of the federally-funded initiatives that support regional innovation economies and a wide range of federal R&D activities.

The U.S. Small Business Administration announced 24 organizations as recipients of the 2020 Federal and State Technology partnership (FAST) program grant awards.

The Lab-to-Market (L2M) subcommittee of the National Science and Technology Council’s Committee on the Science and Technology Enterprise is launching a $325,000 prize competition to highlight successful examples of innovation ecosystems, particularly existing resources that support underserved communities or remarkable responses to the pandemic environment. There are three categories for applicants with an informational webinar

The Small Business Administration (SBA) recently rolled out a new website for the SBIR/STTR program which SBA administers. Reorganized and including new landing pages for entrepreneurs, support organizations, and federal agencies, the new page provides quicker and easier access to the right information.

SBA began offering a second round of the Paycheck Protection Program (PPP) on April 27, and SBA’s data indicate this round is better distributed across businesses and the states than the first. As of May 8, round two has approved $189 billion across nearly 2.6 million loans, 55 percent more than in all of round one. The average loan size in round two is $73,488, which is a significant drop from the first round’s average of $206,022.