WASHINGTON – Today, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s 33 million small businesses, issued the following statement regarding the recent announcement by the Department of Defense (DoD) on the creation of the Office of Strategic Capital (OSC):
“The U.S. Small Business Administration and the Department of Defense have a long history of working together to deliver billions of dollars of funding to advance entrepreneurial R&D and commercialization efforts vital to our national security. DoD’s creation of the Office of Strategic Capital marks a significant milestone in the Biden-Harris Administration’s investment in critical technologies that drive innovation, power our nation’s technological leadership, and strengthen our national security.
“This new mission-driven office will continue to build and align incentives for private investment in innovators who are producing frontier technologies that advance America’s security and economic competitiveness. SBA and DoD are aligned in our mission of growing private capital investment in emerging and critical technologies. We look forward to working with DoD’s Office of Strategic Capital through a new SBA-DoD partnership, which we will be announcing at the Reagan National Defense Forum.”
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About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.