GAO’s reports and testimonies give Congress, federal agencies, and the public timely, fact-based, non-partisan information that can improve government operations and save taxpayers billions of dollars.
The Small Business Innovation Research Program seeks to stimulate technological breakthroughs by channeling federal research and development funds to small businesses. Since 2013, small businesses owned by venture capital companies, hedge funds, or private equity firms may participate in some cases.
In fiscal year 2019, our work yielded a record $214.7 billion in financial benefits, a return of about $338 for every dollar invested in us. We also identified 1,418 other benefits that led to better services for the American people and other improvements across government.
What GAO Found Seven federal agencies invested—that is, conducted or funded—approximately $2.89 billion in regenerative medicine research in fiscal years 2012 through 2014. Most (88 percent) was invested by the National Institutes of Health.
What GAO FoundGAO's 2013 annual report identifies 31 new areas where agencies may be able to achieve greater efficiency or effectiveness. Seventeen areas involve fragmentation, overlap, or duplication.