Bills to Establish American Innovation Bank Pending in Congress

H.R. 4720 and S. 2369 were submitted on April 25, and would establish an independent agency to “promote the commercialization of science and engineering discoveries” through grants and assistance to eligible institutions, including “institutes of higher education” and “nonprofit research institutions that focus on science research”.

The purpose of this would be to bridge the gap for promising start-up companies that have exhausted their initial funds, but are not yet at the stage where they can attract investment.

Given the political climate, and single party sponsorship of the bills, no additional action is expected this year.

Share This Post