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FOR IMMEDIATE RELEASE
March 18, 2009
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As SBIR Program Given Last-Minute Reprieve,
Innovators, Investors and Industry Push On
Wednesday, March 18, 2009 | Arlington, TX – Just days after Congress temporarily extended the decades-old, $2.2BN Small Business Innovation Research (SBIR) program on March 17, a global investment and licensing forum in North Texas will introduce new technologies – many supported by federal R&D programs including SBIR – to investors and Fortune 1000 licensees.
Designed to leverage private sector innovation and enhance the competitiveness and commercial success of U.S. small businesses leveraging government-funded research, the SBIR program was formalized in 1982 under the Small Business Innovation Development Act.
“We are still concerned for the small business innovator,” said Paul Huleatt, WBTshowcase CEO. “For decades the SBIR program has successfully harnessed the innovative power of U.S. small businesses, and that talent shines every year at the WBTshowcase. Some of our biggest success stories have been SBIR-backed technologies. We’ll showcase nine SBIR companies this year alone.”
Calling the SBIR program “vital to U.S. economic competitiveness,” Mr. Huleatt said that Congress’ five-month extension of the program through July 31 gives him hope that a permanent and perhaps even expanded reauthorization bill might be in the works.
“Given our difficult economic climate, the SBIR program – which is proven to be effective at growing companies from promising technologies – should clearly continue its good work,” he said.
The difficult economic climate hasn’t tamped the appetite of technology innovators and investors seeking face time with each other at the 2009 WBTshowcase (WBT09), which takes place March 24-25 in Arlington, Texas.
WBT09 is tracking ahead of its record-setting 2008 numbers, when 450 attended. This year the event features over 50 guest speakers and 90 technologies from 27 states and 11 foreign countries.
First held in 2002, the WBTshowcase has emerged as the world's largest forum of pre-screened, pre-prepped, undiscovered companies and technologies emanating from top universities, labs, and research institutions from across the country and around the globe.
WBTshowcase
The WBTshowcase is the world’s premier event exposing undiscovered, breakthrough, energy, life science, IT, and physical science technologies emerging from top universities, labs and research institutions. Each WBT is a year long collaborative effort resulting in deals vetted and mentored by investors and licensees for investors and licensees. www.wbtshowcase.com
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