Obama orders federal labs to help businesses create new products

He ordered agencies to streamline the process of partnering with private organizations for research. The White House claims the changes will result in the federal government approving grants to startups 50 percent faster.

The memo also encouraged agencies to share their expertise with businesses, local communities and universities. 

The president ordered the agencies to develop a five-year plan with goals and ways to measure progress in their outreach to the private sector. The plan would keep track of how many patents each lab files.   

“With too many families struggling and too many businesses fighting to keep their doors open, we can’t wait for Congress to take action,” Obama said, adding that the action would boost the economy and help businesses create new products.