SBA releases Final Rule on new size and eligibility restrictions for SBIR/STTR program
07 January 2013Government Contracts Alert
The Small Business Administration (SBA) released a Final Rule on December 27, 2012, amending the size and eligibility requirements for small business concerns seeking awards through the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. The Final Rule implements provisions of the National Defense Authorization Act for Fiscal Year 2012 which allow for a certain percentage of SBIR program funds to be awarded to small business concerns that are majority-owned by multiple venture capital operating companies (VCOCs), hedge funds, or private equity firms. The Final Rule also amends the affiliation requirements by adding a new section of affiliation rules that apply specifically to SBIR/STTR program participants.