Examining SBA’s Office of Investment and Innovation
On Thursday, the Small Business Committee held a hearing on the SBA’s Office of Investment of Innovation (OII), with Associate Administrator Joshua Carter testifying. OII manages the Small Business Innovation Research program (SBIR), the Small Business Technology Transfer program (STTR), and the Small Business Investment Company program (SBIC). Together, these programs disburse grants and loans to small businesses pursuing research into innovative technologies, whether that be for research and development, or for scaling up to commercialization. I questioned Mr. Carter on how entrepreneurs in the CNMI who see the military testing advanced technologies like these in our islands, but who are far removed from the technical and financial networks of the mainland that could help them participate in providing those technologies. I also questioned him on what investments his office is facilitating into advanced energy research that could improve our energy security, in light of fuel supply chain issues that have recently been highlighted. Mr. Carter expressed interest in these issues and in visiting the CNMI, and I formally invited him to come. I look forward to working with him in the future to deliver for our local entrepreneurs. View our exchange here.