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119-s-3415119th CongressWALLET

Small Business Innovation Voucher Act of 2025

Sponsored By: Senator Cortez Masto, Catherine [D-NV]

Introduced

Summary

This bill would create a Small Business Innovation Voucher program that gives small firms federal grants to buy technical assistance from universities and nonprofit research labs. It aims to speed commercialization, boost university‑business collaboration, and grow high‑skill jobs.

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  • Small businesses could apply for grants between $15,000 and $75,000 to pay eligible research partners for technical services and product development.
  • Colleges, nonprofit research labs, and federally funded research centers become eligible sellers of those services, creating new revenue and stronger paths to commercialize research.
  • The Small Business Administration would run the program, report outcomes every two years, and the bill would authorize $10 million per year from 2026 through 2030 while limiting administrative costs to 5%.

*This bill would authorize roughly $10 million annually for five years, increasing federal spending by about $50 million and making funds available until expended.*

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Innovation vouchers for small businesses

If enacted, the SBA would set up an Innovation Voucher Grant Program within 180 days to award competitive grants to qualifying small businesses. Grants would be $15,000 to $75,000, and the federal share would be up to 75% for grants under $50,000 and up to 50% for grants $50,000 or more. You would apply with an eligible entity (an institution of higher education or a U.S. nonprofit research lab), and the SBA would select recipients within 180 days after the application deadline. The program would be authorized at $10 million per year for fiscal years 2026–2030, funds would remain available until spent, and administrative costs would be capped at 5%. Grant recipients would file a project report within 180 days after completion, and the SBA would report to the House and Senate Small Business committees every two years starting two years after the program begins, with a final report due within 180 days after program funds are expended.

Sponsors & CoSponsors

Sponsor

Cortez Masto, Catherine [D-NV]

NV • D

Cosponsors

  • Sen. Young, Todd [R-IN]

    IN • R

    Sponsored 12/10/2025

Roll Call Votes

No roll call votes available for this bill.

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