Neuralink, Musk’s brain implant company, has registered as a small business.
Elon Musk’s health technology company, Neuralink, recently identified itself as a “small disadvantaged business” in a federal application submitted to the U.S. Small Business Administration (SBA). This filing coincided with a financing round that valued the company at $9 billion.
Neuralink is focused on developing a brain-computer interface (BCI) system intended to help individuals with severe paralysis regain some level of independence. BCI technology can translate brain signals into commands, allowing users to control external devices through thought alone.
The SBA filing, dated April 24, aligned with Musk’s tenure at the Department of Government Efficiency (DOGE), where he sought to reduce the size of federal agencies. Reports from MuskWatch revealed the details surrounding Neuralink’s filing, raising questions about the accuracy of its self-designation.
The definition of “small disadvantaged business” from the SBA requires that a company must be at least 51% owned and controlled by individuals classified as socially and economically disadvantaged. Acquiring such a status can provide a business with advantageous access to federal contracting opportunities.
There have been instances in the past where the Department of Justice penalized firms for misrepresenting their SDB status. Musk, recognized as the world’s wealthiest individual, oversees multiple enterprises, including Tesla and SpaceX, as well as his recent acquisition of Twitter, now rebranded as X.
Jared Birchall, a Neuralink executive and Musk’s family office manager, was noted as the contact for the April application but did not provide comments upon request.
In early June, Neuralink closed a $650 million funding round, increasing its valuation to $9 billion. Investors included ARK Invest and Sequoia Capital.
The recent funding aims to enhance technological advancements to better serve patients and develop devices that bridge biological systems with artificial intelligence.