Small Business Innovation Research: Three Agencies Made Awards to Businesses Majority-Owned by Investment Companies and Funds [open pdf - 336KB]
From the Document: "The Small Business Innovation Research (SBIR) program was established to enable federal agencies to support R&D [research and development] projects carried out by small businesses. [...] The Small Business Act, as amended, includes a provision for GAO [Government Accountability Office] to conduct a study of the impact of requirements relating to the involvement of investment companies and funds in the SBIR program and submit a report to Congress regarding the study every 3 years. Our first review covered fiscal years 2013 and 2014, and in December 2018, we issued our second report on this issue, for fiscal years 2015 through 2018. This third report addresses (1) SBIR participating agencies' awards to qualified small businesses in fiscal years 2019 and 2020 and (2) reasons participating agencies cited for allowing or not allowing the participation of qualified small businesses in the SBIR program."
Government Accountability Office: https://www.gao.gov/