INNOVATE Act

The INNOVATE Act reforms the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs to better support small businesses developing innovative technologies. Key provisions include creating a new "Phase 1A" program to increase accessibility for new small business entrants (with proposals limited to 5 pages and awards capped at $40,000), requiring fixed-price contracts for SBIR/STTR awards, and strengthening security measures to protect intellectual property from foreign influence. The bill prohibits SBIR/STTR awards to businesses with certain agreements (like with NewsGuard or Disinformation Index), expands outreach to rural communities, and extends program authorization through 2028. It also streamlines administrative processes, improves data collection, and requires GAO reports on due diligence programs.