After some political drama, the House passed the H.R. 5116, America COMPETES Reauthorization Act of 2010 on Friday (see House S&T Committee press release). The bill reauthorizes various federal R&D programs and STEM education programs. It also enacts many of the Obama technology initiatives including setting up an interagency task force at OSTP and requiring a manufacturing strategy, creating a new prize mechanism in NSF, establishing the Regional Innovation Initiative and creates Energy Innovation Hubs.
I am especially interested in two provisions. The first is a provision to get the MEP Centers into the product development game. Labeled the Innovative Services Initiative, this provision allows the Secretary to set up programs in MEP to assist SME in "accelerating the domestic commercialization of new product technologies." I would have liked the language to say "shall" set up the program rather than "may" -- but it is still a step forward.
The second is the creation of a program of loan guarantees for projects that "reequips, expands, or establishes a manufacturing facility in the United States to (1) use an innovative technology or an innovative process in manufacturing; or (2) manufacture an innovative technology product or an integral component of such product." The program also uses MEP Centers as an outreach mechanism for the loan guarantees.
I am especially pleased that the program allows for companies to qualify for using innovative technologies or processes. Other programs, such as the Innovation Ohio Loan Fund for example, are focused on the development of new technology. Use, however, is just as important.
Needless to say, much more needs to be done to create innovation strategy of America. But passage of this bill is a good step. It is too bad it took so long.
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