A study conducted by Robin Gaster, Ph. D. of Incumetrics was recently released that analyzed the methodology and conclusions of SBIR Economic Impact Studies performed by the Air Force and Navy. The study found that not only were the economic results reported by the economic impact studies accurate, they were, if anything, understating the economic impact of the SBIR/STTR programs because they didn’t take into account future sales and economic activity. In fact, if future economic returns are taken into account, current product sales could be conservatively increased by 45%.
This study bolsters the conclusions drawn by the Air Force and Navy Economic studies about the effectiveness of the SBIR/STTR program as one of, if not the most economically beneficial innovation programs in government.