SABIR Act

The Save Biotechnology Innovative Research (SBIR) Act of 2005, or H.R. 2943, was designed to expand the eligibility rules for small businesses seeking federal research and development grants. The bill would have allowed companies to qualify for the Small Business Innovation Research (SBIR) program even if they were majority-owned by venture capital firms, provided those firms were primarily owned by U.S. citizens or permanent residents.

For everyday citizens, this legislation aimed to increase the flow of federal funding to biotechnology startups and other high-tech firms that rely on professional investment to grow. By relaxing ownership restrictions, the bill sought to ensure that small, innovative companies could continue to develop new technologies and medical treatments without losing access to government support as they secured private funding.