Sen. Coons introduces yet another bill for startups

Good tidings for ex-DuPonters contemplating startups: U.S. Sen. Chris Coons (D-Del.) has co-authored a bill called the American Innovators and Entrepreneurs Act, which would help scientists and researchers start their own businesses.
“The U.S. has the best scientists and engineers in the world, but they often lack the business skills necessary to turn their great ideas into new products and startup businesses,” Coons said in a release.
The proposed bill builds off of the National Science Foundation’s Innovation Corps program, which works to create regional innovation networks by offering training and resources to develop products.
Coons has been on a roll with startup legislation: Earlier this month, he introduced the Support Startup Businesses Act, which would authorize entrepreneurs who have received money through the Small Business Innovation Research (SBIR) program to use up to 5 percent of those funds toward things like market validation, intellectual property protection, market research and business model development, according to a release. Currently, SBIR offers little financial support for commercialization efforts.
His latest bill, the American Innovators and Entrepreneurs Act, would:

• Authorize Innovation Corps through 2020
• Expand the program’s training to all federal researchers and agencies
• Encourage partnerships between Innovation Corp and SBIR programs
• Increase program funding for the next four years
• Require the National Science Foundation to send regular progress reports to Congress

By building on successful @NSF #icorps program, our bill helps scientists & engineers bridge divide btw laboratory & market @SenatorFischer

— Senator Chris Coons (@ChrisCoons) April 28, 2016

“The Science Center has been a long-time supporter of innovative scientists and engineers in the greater Philadelphia/Wilmington region, and we urge Congress to support this important legislation,” Steven Tang, University City Science Center’s president and CEO said in the release.
It’s a popular bill so far in the Delaware arena: the University of Delaware, the Delaware Biotechnology Institute, the Delaware Small Business Development Center and the UD Office of Economic Innovation and Partnerships have endorsed it.