Bills
| 3.23.22

Should the National Science Foundation Support Entrepreneurs? (H.R. 539)

Do you support or oppose this bill?

What is H.R. 539?

(Updated July 1, 2020)

This bill — the Innovators to Entrepreneurs Act of 2019 — would direct the National Science Foundation (NSF) to expand Small Business Innovation Research Program grantees’ participation in its Innovation Corps (I-Corps) program. It’d also direct the NSF to develop an I-Corps course for commercialization-ready participants to teach them skills like attracting investors, scaling up a company, and building a brand.

This bill would authorize $5 million for these activities in fiscal years 2020 and 2021.

The Comptroller General would be directed to evaluate the I-Corps program’s impact. This would entail assessing the effect of I-Corps on the commercialization of federally funded research and development, the higher education system, regional economies, and the national economy.

Argument in favor

Small businesses and inventors could use additional federal support to help them turn innovations into commercially products. This bill would direct the National Science Foundation — which has expertise in this area — to provide this vital support.

Argument opposed

Bringing products to market for commercial purposes shouldn’t be a federally funded exercise. Future profits from bringing new products to market, not taxpayer money, should pay for commerciation activities.

Impact

Entrepreneurs; the NSF; NSF I-Corps; and the Comptroller General.

Cost of H.R. 539

When this bill was introduced in the 115th Congress, the CBO estimated that implementing it would cost $5 million over the 2018-2021 period, assuming appropriation of the authorized amounts.

Additional Info

In-Depth: Rep. Dan Lipinski (D-IL) reintroduced this bill from the 115th Congress to enable broader participation in the NSF Innovation Corps (I-Corps) program and provide additional training for innovators to learn how to turn their research into new products and businesses:

“I’m so pleased to be joined by a bipartisan group of colleagues in the House and Senate to introduce this bill expanding the highly effective I-Corps program, something I have championed since its inception. Increasing the accessibility of I-Corps allows us to ensure the money we invest in research and development will spur job growth and boost our return on investment. This bill has been endorsed by a wide range of technology, venture capital, and academic stakeholders, and we’re optimistic it will become law with overwhelming bipartisan support.”

This bill has three bipartisan cosponsors, including two Republicans and one Democrat, in the current Congress. Last Congress, it passed the House by a 379-16 vote with the support of three bipartisan cosponsors, including two Republicans and one Democrat, but didn’t receive a vote in the Senate.  In the current Congress, a Senate version of this bill has been introduced by Sen. Chris Coons (D-DE) with the support of one cosponsor, Rep. Todd Young (R-IN).

The Information Technology and Innovation Foundation, the National Venture Capital Association, the Council on Government Relations, and the Association of Public and Land-Grant Universities,  I-Corps founding program officer and M34 Capital CEO Dr. Errol Arkilic, the National Venture Capital Association, the Association of American Universities, and the Association of Public and Land-Grant Universities support this bill.


Of Note: I-Corps, launched by the NSF in 2011, connects scientists and engineers with the technological, entrepreneurial, and business communities needed to move discoveries from laboratories to the market. Since 2012, I-Corps has trained over 1,300 teams, led to the formation of 644 startup companies, and resulted in over $300 million in follow-on funding raised.


Media:

Summary by Lorelei Yang

(Photo Credit: iStockphoto.com / PeopleImages)