News Column

CSBI Applauds Reps. Gerlach, Neal, Kelly, & Kind for Introducing the PARTNER Act

June 16, 2014

Legislation Would Stimulate Investment in Innovation

WASHINGTON--(BUSINESS WIRE)-- Today, the Coalition of Small Business Innovators (CSBI) applauds Reps. Jim Gerlach (R-PA), Richard Neal (D-MA), Mike Kelly (R-PA), and Ron Kind (D-WI) for introducing H.R. 4855, the Partnerships to Advance Revolutionary Technology and Novel Entrepreneurial Research (PARTNER) Act. This bill would support early-stage research by incentivizing investment in R&D-focused small businesses.

“The Coalition of Small Business Innovators strongly supports the PARTNER Act, and we commend Reps. Gerlach, Neal, Kelly, and Kind for taking this important step to support early-stage research,” said Joanne Gere, Executive Director of the BioPharma Research Council (BRC). “The PARTNER Act will drive investment dollars to small companies that are leading America into a 21st century innovation economy. These emerging innovators are powering job creation and breakthrough discoveries in labs across the country, and this vital legislation will support their progress.”

The PARTNER Act would allow companies to partner with their investors on a specific research project or pipeline. Only start-up and small companies dedicated to R&D would be eligible to use these R&D Partnership Structures, so investors would be incentivized to invest at an earlier stage – when the capital is most needed. Conducting groundbreaking research is a decades-long, billion-dollar endeavor, and emerging companies need early-stage investors with a long-term investment strategy. This bill would bring in innovation capital to kickstart a company’s growth and support its development.

“Pre-revenue companies often do not benefit from the existing innovation incentives in the tax code, but the PARTNER Act would support groundbreaking R&D at its earliest stages,” said Liz Hyman, Executive Vice President of Public Advocacy at CompTIA. “A strong investment environment will ensure that small companies receive the funding they need and promising technologies are not left to gather dust on the laboratory shelf.”

An independent study conducted by Ernst & Young found that the PARTNER Act would increase investment by an estimated $10.3 billion per year, resulting in 156,000 additional jobs.

CSBI is a group of 24 organizations representing emerging R&D companies. Many of these growing innovators do not yet generate product revenue, so their research is funded entirely by outside investment. The PARTNER Act would stimulate investment in these small businesses, supporting the search for breakthrough technologies and life-changing scientific advancement.

For more information about CSBI or the PARTNER Act, visit smallbusinessinnovators.org.

The Coalition of Small Business Innovatorsis a national, non-partisan coalition of organizations dedicated to stimulating sustained, private investment in small companies focusing on the development of transformative, life-changing new technologies. With small businesses working to advance research, development, and manufacturing of technologies that have the potential to solve critical economic, environmental, and societal challenges around the world, we seek to educate lawmakers and the public about the value of stimulating investment in these companies. More information about CSBI can be found at smallbusinessinnovators.org or on Twitter (@SmBizInnovators).

CSBI Members

Advanced Medical Technology Association (AdvaMed)

Algae Biomass Organization (ABO)

American Small Manufacturers Coalition (ASMC)

Association of Clinical Research Organizations (ACRO)

BioPharma Research Council (BRC)

Biotechnology Industry Organization (BIO)

Center for Innovative Technology (CIT)

Commercial Spaceflight Federation (CSF)

Computing Technology Industry Association (CompTIA)

CONNECT

Energy Storage Association (ESA)

Fuel Cell & Hydrogen Energy Association (FCHEA)

Medical Device Manufacturers Association (MDMA)

Nano Network of New Mexico (NNNM)

NanoBusiness Commercialization Association (NanoBCA)

National Association of State Energy Officials (NASEO)

National Council for Advanced Manufacturing (NACFAM)

National Defense Industrial Association (NDIA)

Neurotechnology Industry Organization (NIO)

Research!America

TechAmerica

Technology Councils of North America (TECNA)

TechVoice

Water Innovations Alliance (WIA)




for Coalition of Small Business Innovators (CSBI)

Tracy Cooley, APR, 202-312-9274


Source: Coalition of Small Business Innovators (CSBI)


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Source: Business Wire


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