Comstock, Adams Introduce Bipartisan SUCCESS Act
Washington, D.C. – Congresswoman Barbara Comstock (R-VA) and Congresswoman Alma S. Adams, Ph.D. (D-NC) released the following statement after they introduced the bipartisan H.R. 6390, the Study of Underrepresented Classes Chasing Engineering and Science Success (SUCCESS) Act, legislation designed to close the gender, race, and income gap in patenting rates. Women hold less than 20% of all patents and a 2017 study showed that racial minorities hold between 8% and 13%. The SUCCESS Act directs a study to be done by the Small Business Administration to identify best practices for closing the race, gender, and income gaps in patenting rates for small businesses. This study will be critical in developing policies to help these underrepresented groups further engage in the entrepreneurial activities that are the backbone of our American economy. The National Association of Women Business Owners has endorsed the SUCCESS Act.
“Inventors and entrepreneurs are drivers of economic growth and innovation in the United States. To ensure that we continue to have the best ideas possible competing with one another, we must be constantly improving an economic environment that welcomes a diverse group of entrepreneurs who bring a variety of life experiences to the table." said Congresswoman Comstock. "In a global economy that gets more competitive by the day, we increasingly rely on innovative technologies, often developed by our small businesses, for the United States to continue leading the world. This legislation is a strong step forward in making sure underrepresented groups have the best opportunity to succeed as entrepreneurs, small business owners, and innovators themselves.”
“As the world’s leader for innovation and entrepreneurship, the United States is a breeding ground for the best ideas and creative approaches that improve our quality of life and solve some of the world’s most complex problems," said Congresswoman Adams. “This is why we must ensure that all people have an equal opportunity to compete for patents. Currently, women, people of color, and low-income communities hold significantly fewer patents than other demographics. A recent study showed that children born to parents in the top 1% of income are ten times more likely to become an inventor and hold a patent than those born into low-income families. Representative Comstock and I introduced the SUCCESS Act to promote policies that increase the opportunity for these underrepresented groups to successfully qualify for patents. The future of American innovation is diverse, and the SUCCESS Act will ensure that all innovators and creatives have a seat at the table.”