Federal Funding Briefing, September 2024

JAMESON-SELECTED NEWS, STORIES & INSIGHTS

In the September Federal Funding Briefing, we re-cap some of the news we shared this month. Look for a deep dive into Section 174 and next steps, thoughts on supporting innovation and protecting innovators, and some very interesting SBIR opportunities.

Failed Senate 174 R&D Tax Law Vote: What’s Next & How to Survive

In August, for mostly political reasons, H.R. 7024 failed in the Senate. To make sense of it all, we shared insights from the Sycamore Growth Group. This highly informative article discusses the impact of the Senate’s decision on the professional innovation sector, possible options, and next steps for Section 174. Read it here.

Innovation Empowers Our Today and Tomorrow.

We shared two great articles on the importance of innovation to the U.S. economy, national security, and future in September.

J.P. Morgan gave us a deep dive into defense tech innovation, the evolving relationship between government agencies and the private sector, and initiatives to support startups. Read article.

Carnegie Endowment shared a working paper on leapfrog opportunities in energy innovation, its value to the industrial base, and essential role in preserving energy security. Read article.

Innovation Should Be Celebrated. And Protected.

The Bayh-Dole Coalition released its 2024 “Faces of American Innovation” report, highlighting five remarkable individuals who’ve turned early-stage discoveries into commercial products. And improved the lives of millions. Get the report here.

At the same time, a number of articles raised concerns about innovation protection. To learn why preserving and strengthening America’s IP protections improves our ability to compete against China, read here. To understand the impact the White House’s march-in plan would have on VC investment in everything from renewable energy to life sciences, read here.

Could Improving the Grant System Improve Science?

The endless cycle of grant applications and the constant turnover of early-career researchers slows scientific advances. But there are steps funding agencies can take to make it better. Read the article.

Important Info & Opportunities for SBIR/STTR Grantees

Uniform Guidance Updates Go Into Effect, October 1. We’ve known about the 2024 updates to the UG since spring, but the official start date has finally arrived. For a quick refresh on what’s changed, read this article.

A PIA Could Speed You Through the Valley of Death: Partner Intermediary Agreements, or PIA, are enabling SOCOM to reduce the transition time into SBIR Phase 3 from five years to 18 months. Get the details.

Deadline for NIEHS Outstanding Investigator Funding is November 1, 2024: The NIEHS announced a $4 million program to support established environmental health scientists with eight years of flexible, sustained funding. Learn more.

Jameson Webinar: Learn How to Comply with Your Government Funding Award: Join us, Wednesday, October 9, 2024, from 1-2 PM (EST). Learn how to set up your books for FAR compliance. Gain a deeper understanding of indirect costs rates, how they impact your cash flow, and how to project the right one. And explore ways to survive the audits embedded in your award. Register now.

SBIR Accounting Phase I Survival Kit: When you receive Phase I SBIR funding, you’re expected to meticulously track your spending in compliance with FAR Part 31. Because it’s not an easy task, we developed an entire curriculum with video training and templates. Through it, you can turn QuickBooks Online into a compliant accounting system that can generate Job Cost Reports and Indirect Cost Rate Reports. Learn more here.

For daily insights on federal funding and government award accounting, follow us on X and LinkedIn.

Ed Jameson, CPA, Managing Partner

I’ve been in practice for over 40 years helping our small business clients procure, manage, and survive audits on more than $6 billion in federal government contract and grant funding. We’ve been featured presenters and panel moderators at Tech Connect’s National SBIR/STTR conferences since 2010, and I’ve presented at the DOD’s Mentor Protégé Summit and present regularly for several state and local organizations.