New DOD Program Funds $500 Million for Small Business

June 3, 2010

Included in the National Defense Authorization Act For Fiscal Year 2011 was a new program within the Department of Defense created for the purpose of accelerating and supporting defense technology transition to the warfighter or commercial markets.  Called the "Rapid Innovation Program", it would create a new $500 million pool of funding for small businesses to compete over.  This money would be targeted to "accelerate" technologies from the prototype phase to the field or market place.  Although the bill has passed the House, the program needs to go through the Appriopriations Committee before any money can be allocated.

The SBTC wholeheartedly supports this program, and offers it's appreciation to the House Armed Services Committee for their recognition of the importance of small businesses in creating new technologies for the warfighter.  Special thanks are due to Armed Services Chairman Ike Skelton, who has long been a champion of small businesses, and one of our biggest allies within the Armed Services Committee.

Please click here to fiew the full legislation.