Arizona Biotech - Small Business Administration - SBA ruling hurts future of biotech companies
SBA ruling hurts future of biotech companies | www.azstarnet.com ?
Opinion - Arizona Biotech - Small Business Administration -
Guest Opinion: Jon McGarity
SBA ruling hurts future of biotech companies
Tucson, Arizona | Published: 03.31.2006
In his 2006 State of the Union address, President Bush declared: "With more research in both the public and private sectors, we will improve our quality of life and ensure America will lead the world in opportunity and innovation for decades to come."
Unfortunately, the Small Business Administration in Washington, D.C., is not heeding those wise words. In fact, the SBA has imposed a regulatory ruling that is negatively impacting the future of our small biotech and biomedical research companies.
The SBA decision jeopardizes the development of critical breakthroughs and possible cures for America's patients and their families by cutting off a crucial avenue for our hometown labs to secure much-needed funding from the National Institutes of Health and other federal agencies.
The SBA decision disqualifies many of our small companies — those firms receiving more than 51 percent of their financial backing from venture capital or other outside interests — from the Small Business Innovation Research grant program.
It's clear the SBA simply doesn't understand how small biotech and biomedical firms must rely on outside funding to stay competitive while working to get their ideas off the ground and into the marketplace.
Opinion - Arizona Biotech - Small Business Administration -
Guest Opinion: Jon McGarity
SBA ruling hurts future of biotech companies
Tucson, Arizona | Published: 03.31.2006
In his 2006 State of the Union address, President Bush declared: "With more research in both the public and private sectors, we will improve our quality of life and ensure America will lead the world in opportunity and innovation for decades to come."
Unfortunately, the Small Business Administration in Washington, D.C., is not heeding those wise words. In fact, the SBA has imposed a regulatory ruling that is negatively impacting the future of our small biotech and biomedical research companies.
The SBA decision jeopardizes the development of critical breakthroughs and possible cures for America's patients and their families by cutting off a crucial avenue for our hometown labs to secure much-needed funding from the National Institutes of Health and other federal agencies.
The SBA decision disqualifies many of our small companies — those firms receiving more than 51 percent of their financial backing from venture capital or other outside interests — from the Small Business Innovation Research grant program.
It's clear the SBA simply doesn't understand how small biotech and biomedical firms must rely on outside funding to stay competitive while working to get their ideas off the ground and into the marketplace.
posted by Bill Austin - Arizona Biotech - Small Business Administration - SBA ruling hurts future of biotech companies
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