The Rapid Innovation Fund program, though made permanent in 2017, was not funded for FY2020. This highly competitive, merit-based DOD program was in part developed by SBTC to provide funding for high-tech small businesses to cross the valley of death separating development of new and innovative technology from its transition to the marketplace or a program of record. This program is targeted at Phase III-level development technologies that are ready to go to the next level. A recent GAO study demonstrated that 50% of funded technologies are successfully transitioned, a remarkably high rate for this type of program.
In order to get this important program re-funded for FY2021, we have worked with the House Small Business Committee to draft a letter to the House Defense Appropriations sub-Committee requesting “robust funding” for the RIF program. Small Business Committee Chairwoman Nydia Velazquez (NY-D) and Ranking Member Steve Chabot (OH-R) are the have taken the lead.
We now ask our members to go out to their Representatives and urge them to add their signature to the list of co-signers. The more Representatives we can get to sign this letter, the more likely it is that RIF is funded for FY2021. To sign on to this letter, please have your Representative’s office contact Joe Hartz (email@example.com) for the House Small Business Committee minority staff, or Naveen Parmer (firstname.lastname@example.org) for the House Small Business Committee majority staff and ask to add their signature to the letter.
Please act quickly to make sure your Representative’s name is added. Links to the letter and an SBTC one-pager on why the RIF program is important to innovative small businesses are below:
House Small Business Committee Letter to Defense Approps Requesting RIF Funding
SBTC One-Pager on Funding RIF for FY2021