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Are firms that are majority owned by venture capital operating companies (VCOCs), hedge funds, or private equity firms eligible to submit a Phase I offer?

The U.S. DOT’s SBIR Program will not accept offers from or make awards to small business concerns that are majority owned by such entities, unless allowable per 13 CFR § 121.702(a)(1)(i) in that it is majority-owned by a single VCOC, hedge fund, or private equity firm that is itself a small business concern.