Congressman Steve Knight, R-Palmdale, sponsored a bill to help small businesses innovate by establishing a “readiness” program and holding agencies accountable, he said Thursday.

The Small Business Innovation Research and Small Business Technology Transfer Improvements Act of 2017, H.R. 2763, unanimously passed a House committee last week, moving one step closer to approval.

“The bill ultimately helps small businesses advance innovation and research that will help industries across California and the nation,” Knight said. “The advantages of supporting small business in their ventures are endless as some of the greatest entrepreneurial developments in technology originate from the support of the surrounding community and government resources.”

The U.S. House Committee on Science, Space, and Technology unanimously approved the bill sponsored by Knight who serves as Vice Chairman of the committee.

H.R. 2763 holds the Small Business Administration (SBA) accountable while spurring innovation by requiring that they give a comprehensive report of programs to Congress by December 31 of each year, according to the author.

“This legislation updates these programs to match our ever evolving business environment,” said SST Committee Chairman, Lamar Smith, R-Texas. “I thank Congressman Knight for his long-standing leadership on this important issue and look forward to passing this bill in the House soon.”

The two programs targeted by the proposed bill are the Small Business Innovation Research (SBIR) program and the Small Business Technology Transfer (STTR) program.

“Our committee approved the (bill), which makes key improvements to the SBIR and STTR programs. These critical programs have helped to spur small business innovation across multiple sectors of our economy,” said Chairman Smith.

The Innovation Research program incentives small businesses through a competitive awards-based system that enables businesses to explore their technological potential and provides the incentive to profit from its commercialization.

The technology transfer program expands funding opportunities in the federal innovation research and development (R&D) arena. Central to the program is expansion of the public-private sector partnership to include the joint venture opportunities for small businesses and nonprofit research institutions, according to the SBA.

Additionally, the legislation will hold the Department of Defense (DOD) accountable to stimulate technological innovation by requiring the DOD include more SBIR and STTR developed technology in larger programs of record.

This legislation will update and strengthen Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Program.

“The $3 billion that these programs award to small businesses annually helps recipients further R&D to create new products and technologies that create thousands of American jobs,” said Chairman Smith. “Innovation for small businesses has also long been instrumental in the success of our country’s small business sector.”