Stanford Seminar - Silicon Valley & The U.S. Government: SBA's Bailey DeVries

The podcast explores the role of the Small Business Administration (SBA) in fostering innovation and supporting small businesses, particularly in high-tech sectors. Bailey DeVries, head of the Office of Innovation and Investment at the SBA, discusses the agency's efforts to incentivize private capital flow to startups through programs like the Small Business Investment Companies (SBIC) Program, a $46 billion pool of assets. She highlights the SBIR and STTR programs, which provide $4 billion annually in R&D funding, emphasizing their role as "America's Seed Fund." DeVries also addresses the challenges venture-backed startups face due to SBA's size and affiliation rules, which can restrict their access to government contracts. She details the new Accrual Debenture and the SBIC Critical Technologies Initiative, aimed at directing investment towards critical technology areas vital for national security, such as hypersonics, AI, and biotech.