Ranking Member Edward J. Markey (D-Mass.) held a listening session at The Engine at MIT in Cambridge, Massachusetts, to discuss the effects of federal policy changes on small businesses in the research and innovation sectors. The event brought together representatives from Massachusetts small businesses who voiced concerns about the Trump administration’s reductions in funding for federal agencies and research, as well as its tariff policies.
During the session, participants highlighted how these changes are impacting the state’s innovation economy and discussed the significance of programs like Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR). These programs are considered important sources of flexible funding for early-stage companies working on new technologies.
“President Trump is trying to tear down every pillar of the innovation ecosystem,” said Ranking Member Markey. “He has threatened to withhold billions of dollars in funding for universities that do not bend to his wishes. His administration has frozen billions in grants to research institutions. This is unacceptable and will set our country on an irreversible course, destroying all that we’ve built together here in Massachusetts and across the country. We will fight back.”
Ben Downing, Chief Growth Officer of The Engine, commented on the value of such discussions: “The Engine was grateful to host this important discussion between Senator Markey and innovative small businesses. Every day, 115 Tough Tech teams come to work at The Engine to solve some of the world's biggest challenges in climate, health and more. Flexible funding, like the SBIR program and other support for research, translation and commercialization provide, is key to accelerating their work and getting us closer to the future we are all trying to build together."
William Marinelli from the New England Innovation Alliance noted ongoing threats from current federal policy: “The New England Innovation Alliance is very fortunate to have Ed Markey as the Ranking Member of the Senate Small Business and Entrepreneurship Committee. Massachusetts has been a leader in the development of SBIR funded technologies through the close relationships we have between small businesses and our leading research institutions, now threatened by the current administration. Senator Markey has been a strong supporter of the SBIR program since his time in the House, emphasizing merit-based awards. His leadership is critical especially in this current environment to protect federal funding for innovation.”
Kendalle Burlin O’Connell, CEO & President of MassBio, added: “MassBio was pleased to have member companies participate in today’s roundtable and share their stories directly with Senator Markey. We are grateful for the opportunity to highlight how programs like SBIR fuel innovation and encourage its timely reauthorization. We look forward to continuing this dialogue to ensure Massachusetts remains at the forefront of research, development, and job creation.”
Brian Johnson from MassMEDIC emphasized collaboration among institutions: “The strength of Massachusetts’ economy, and America’s economy, is attributed to the interconnected network of universities, small businesses, and research institutions that together generate breakthroughs and drive progress,” he said. He also pointed out that public investment through programs like SBIR helps small companies take risks needed for healthcare innovations.
Chelsea Schiller from VentureWell expressed appreciation for continued advocacy: “On behalf of the 19,000 scientists, researchers, and entrepreneurs we have trained VentureWell is deeply grateful for Senator Markey’s steadfast leadership in championing science and technology innovation funding, and for his unwavering support of small businesses through the SBIR/STTR program,” she said.
Last month at a Senate Committee hearing titled “Innovation in the Crosshairs: Countering China’s Industrial Espionage,” Ranking Member Markey criticized cuts affecting government agencies involved with research initiatives while stressing continued support for American innovation via federal programs such as SBIR/STTR.
In May 2025 legislation was introduced by Ranking Member Markey along with House Committee on Small Business Ranking Member Nydia Velázquez (NY-07), aiming both chambers' approval before existing authorization expires September 30.
