Sen. Catherine Cortez Masto, D-Nev., has joined with several other Democratic senators to create small business innovation vouchers.
She said the plan will ensure that small businesses can compete in the 21st century economy. The legislation will create a voucher program in the Small Business Administration providing grants for small businesses to partner with higher education to conduct research and development in inventions and technologies of tomorrow.
Grants from $15,000 to $75,000 would fund projects that have a strong likelihood of creating new technologies. The program would prioritize underserved states and markets including rural areas and businesses owned by minorities, women, veterans and service members.