Washington, D.C. —Today the National Association of Women Business Owners (NAWBO) is expressing support for the SUCCESS Act. The bi-partisan legislation, sponsored in the U.S. House by Representatives Barbara Comstock and Alma Adams, sets out to address underrepresentation in the patent process and to identify best practices to close the gaps in patent rates for women and other underrepresented groups.
“Innovation can be an integral part of small business growth but unfortunately women are underrepresented among inventors and patent holders,” says Molly Gimmel, NAWBO National board chair. “We applaud the Congresswomen for their work on this legislation that will ensure more small business owners have the opportunity to tap into innovation as a means to grow their businesses and continue to grow the overall economy.”
According to a 2015 Brookings Institution study, women hold only 18.8% of all patents and a 2016 study from the Information Technology & Innovation Foundation reveals minorities make up to just 8%-13% of innovators.
NAWBO National was founded in 1975 to serve as the first advocacy organization for all women business owners. Now women own more than 10 million businesses accounting for nearly $1.5B in sales and employing more than 8 million.
Founded in 1975, NAWBO is the unified voice of America’s more than 10 million women-owned businesses representing the fastest growing segment of the economy. NAWBO is the only dues-based organization representing the interests of all women entrepreneurs across all industries. NAWBO develops programs that help navigate women entrepreneurs through the various stages of their business growth.
To learn more, please visit www.nawbo.org.