WASHINGTON – Effective May 4, the U.S. Army broadened access for small businesses that are majority-owned by venture capital, hedge funds and private equity firms to participate in the Army Small Business Innovation Research Program, positioning these businesses as key contributors in our nation’s innovation economy. This allows for promising innovation potential from
emerging and cutting-edge technology companies that have otherwise been restricted from competing for Army SBIR contracts.
“By co-investing alongside the Army SBIR Program, investors have an opportunity to accelerate the development of game-changing, dual-use technologies that have a proven defense interest,” said Dr. Matt Willis, director of Army Prize Competitions and the Army Applied SBIR Program in the Office of the Assistant Secretary of the Army for Acquisition, Logistics and Technology. “This is a win-win opportunity — we award nondilutive capital to these small businesses, while investors provide them with additional capital, tools, and resources to market and develop their ideas.”
As part of the innovation ecosystem, small and nontraditional businesses are critical to revolutionizing Army technology, ensuring Soldiers have access to the most advanced capabilities that give them a decisive edge on the battlefield. Private capital-backed small businesses have among the most promising and innovative technologies that can be developed and integrated into Army systems.
The Army SBIR Program is at the forefront of connecting new innovators, technology integrators, investors and Army customers to modernize and transition life-saving technologies into the hands of the Soldier. To attract a larger number of technology companies, the Army has streamlined contract execution and services, and publishes opportunities on a rolling, ad hoc basis, to make it as easy as possible to participate. This allows small businesses to quickly receive Army funding and contribute to the advancement of Army critical priorities, while also achieving their company's commercial objectives.
To learn more about how to participate in the Army SBIR Program and determine eligibility for a SBIR award, companies should visit www.armysbir.army.mil. For a list of agencies that accept applications from majority-owned VC firms, visit https://www.sbir.gov/vc-ownership-authority.
The Office of the Assistant Secretary of the Army for Acquisition, Logistics and Technology leverages technologies and capabilities to provide U.S. Soldiers a decisive advantage in any environment by developing, acquiring, fielding and sustaining the world’s finest equipment and services. For more information, visit https://www.army.mil/asaalt and follow @ArmyASAALT.