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Step and Flash imprint lithography (SFIL) has reached a critical point in its development life cycle. Resolution and image fidelity have been well established, and progress is being made on both the process and template fronts. This simple technique has the potential to become the next generation lithography (NGL) choice for semiconductor manufacturing. Yet, despite the positive outlook, SFIL has very little industry support. Concerns about defectivity, throughput, overlay, template cost, infrastructure, and a host of other critical issues are legitimate. More important, however, is the severe shortage of publicly available data on SFIL for semiconductor applications, giving the false impression that it is still in its infancy. This paper discusses the current status of SFIL and shows where industry collaboration is needed to solve the critical issues and demonstrate that it is a viable NGL technology.