Definition

Small Business Innovative Research contract (SBIR contract)

According to the U.S. Small Business Administration, a Small Business Innovative Research (SBIR) Contract is a a type of contract designed to foster technological innovation by small businesses with 500 or fewer employees. The SBIR contract program provides for a three-phased approach to research and development projects: technological feasibility and concept development; the primary research effort; and the conversion of the technology to a commercial application.

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This was last updated in July 2007

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