74-8108.   Small business innovation research matching grant bridge financing programs. (a) The corporation is directed to develop a small business innovation research (SBIR) matching grant program which meets the highest current standards for state matching grants to federal phase I SBIR program. Prior to establishing the SBIR matching grant program, the corporation shall conduct a survey and analysis of the most effective SBIR matching grant programs existing in other states.

      (b)   The corporation is hereby directed to establish a small business innovation research bridge financing fund. Such fund shall provide grants, loans, royalty or equity investment to firms that have previously received federal phase I SBIR moneys and that have applied for a phase II SBIR grant.

      History:   L. 1986, ch. 284, § 8; L. 1995, ch. 126, § 1; July 1.