S 3253 — Innovators to Entrepreneurs Act of 2020

Summary

Innovators to Entrepreneurs Act of 2020 This bill expands eligibility for the Innovation Corps (I-Corps) program and requires development of an I-Corps course to support commercialization-ready participants. The bill requires the National Science Foundation (NSF) to allow grantees of the Small Business Innovation Research (SBIR) Program and other entities to participate in I-Corps courses. The cost of participation by such a grantee in a course may be furnished through I-Corps Teams grants, through funds awarded to grantees under the SBIR Program or the Small Business Technology Transfer (STTR) Program, by the grantor federal agency using funds set aside for the SBIR and STTR Programs, or by the participating teams. The NSF shall develop an I-Corps course, to be offered by I-Corps regional nodes, to support commercialization-ready participants. The course shall support participants that have completed an I-Corps course and participants that have made the decision to market an innovation. The Government Accountability Office shall report on the I-Corps Program, including by assessing the effects of the I-Corps on the commercialization of federally funded research and development, the higher education system, regional economies, and the national economy.

Bill Text

• Introduced Introduced in Senate Current html February 04, 2020

Compared against current U.S. Code AI-generated reading aid — verify against the official bill.

The bill expands the eligibility and offerings of the I-Corps program to include additional training for commercialization-ready small businesses and requires a report on the program's effectiveness.

• 42 U.S.C. 1862s-8(c)(2)

  (C) Additional participants.-- (i) Eligibility.--The Director, in consultation with relevant stakeholders, as determined by the Director, which may include Federal agencies, I-Corps regional nodes, universities, and public and private entities engaged in technology transfer or commercialization of technologies, shall provide an option for participation in an I-Corps Teams course by-- (I) Small Business Innovation Research Program grantees; and (II) other entities, as determined appropriate by the Director. (ii) Cost of participation.--The cost of participation by a Small Business Innovation Research Program grantee in such course may be provided-- (I) through I-Corps Teams grants; (II) through funds awarded to grantees under the Small Business Innovation Research Program or the Small Business Technology Transfer Program; (III) by the grantor Federal agency of the grantee using funds set aside for the Small Business Innovation Research Program under section 9(f)(1) of the Small Business Act (15 U.S.C. 638(f)(1)); (IV) by the grantor Federal agency of the grantee using funds set aside for the Small Business Technology Transfer Program under section 9(n)(1) of the Small Business Act (15 U.S.C. 638(n)(1)); or (V) by the participating teams.

  This change adds a provision for small business grantees to participate in the I-Corps Teams course and outlines funding options for their participation.

• 42 U.S.C. 1862s-8(c)

  In carrying out the I-Corps program described in section 601(c) of the American Innovation and Competitiveness Act (42 U.S.C. 1862s-8(c)), the Director shall develop an I-Corps course offered by I-Corps regional nodes to support commercialization-ready participants. Such course shall include skills such as attracting investors, scaling up a company, and building a brand.

  This change mandates the development of an I-Corps course aimed at providing skills necessary for commercialization.

• 42 U.S.C. 1862s-8(c)

  The course developed under subsection (a) shall-- (1) support participants that have completed an I-Corps Teams course; and (2) support participants that have made the decision to take an innovation to market.

  This change specifies the target audience for the new I-Corps course as individuals who have completed initial training and are ready to take innovations to market.

• Not later than 2 years after the date of enactment of this Act, the Comptroller General of the United States shall submit to Congress a report containing an evaluation of the I-Corps program described in section 601(c) of the American Innovation and Competitiveness Act (42 U.S.C. 1862s-8(c)). Such evaluation shall include an assessment of the effects of I-Corps on-- (1) the commercialization of federally funded research and development; (2) the higher education system; and (3) regional economies and the national economy.

  This change requires accountability by mandating a report on the I-Corps program's impact within two years.

Action History

1. February 04, 2020

   Introduced in Senate

2. February 04, 2020

   Read twice and referred to the Committee on Commerce, Science, and Transportation.

Sponsors

• Christopher A. Coons · Primary

Subjects