Bill would boost venture capital-owned firms.Rep. Sam Graves Samuel "Sam" Graves (born November 7 1963) is a politician from the U.S. state of Missouri, currently representing Missouri's At-large congressional district (map) in the United States House of Representatives. (R-MO) has introduced legislation to allow small companies that are majority-owned by venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] to be eligible for federal small business programs. That has emerged as a contentious issue in some of the public hearings on SBA's size standards. The biotechnology industry has taken the lead in arguing that companies should be allowed to apply for Small Business Innovation Research Program grants even if they are controlled by large venture capital investors. Graves calls his bill the Save America's Biotechnology Innovative Research Act. "This change is essential for many small businesses that are trying to do big things," he said in a statement. "It ensures that small businesses that need venture capital are not penalized pe·nal·ize tr.v. pe·nal·ized, pe·nal·iz·ing, pe·nal·iz·es 1. To subject to a penalty, especially for infringement of a law or official regulation. See Synonyms at punish. 2. ." Graves chairs the Small Business Subcommittee sub·com·mit·tee n. A subordinate committee composed of members appointed from a main committee. subcommittee Noun on Rural Enterprises and Technology. |
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