SBA: Small firms major drivers of green tech innovation



It's been said that small businesses and entrepreneurs are the drivers of innovation in this country. While that argument may be up for debate, the sector appears to be leading in the green technology sector.

According to a report released Thursday by the Small Business Administration's Office of Advocacy, small firms account for 14 percent of green tech patents, compared to 8 percent of all patents. They also hold nearly one-third of patents in smart grids and solar energy, and 15 percent of patents related to batteries and fuel cells.

"Small businesses are leading the way in green technology innovation as they have with innovation overall," said SBA Chief Counsel Winslow Sargeant. "It is important that government help foster innovation which leads to commercialization. At Advocacy, we support this process by helping to reduce the regulatory burden on small business."

Also interesting is the background of the majority of small business innovators. According to the report, 80 percent of the "prolific" inventors had previously worked at large companies or major government or university labs.

Tags : Taxes, Corporate Books, LLC, LP, Operating Agreements
Posted: Oct 21st, 2011
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