The corporation may make Small Business Innovation Research and Small Business Technology Transfer Research matching grants to entities as provided in this section.
(1)The corporation may establish priorities, guidelines, standards, and processes by which the matching grants contemplated in this article may be awarded.
(2)The corporation shall require interested entities to complete applications on forms issued by the corporation.
(3)If an entity is seeking a matching grant for a Small Business Innovation Research award, the application shall demonstrate either of the following:
a. For a Phase I application, that the entity has received a Phase I Small Business Innovation Research award from a federal agency in response to a specific federal solicitation.
b. For a Phase II application,
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The corporation may make Small Business Innovation Research and Small Business Technology Transfer Research matching grants to entities as provided in this section.
(1) The corporation may establish priorities, guidelines, standards, and processes by which the matching grants contemplated in this article may be awarded.
(2) The corporation shall require interested entities to complete applications on forms issued by the corporation.
(3) If an entity is seeking a matching grant for a Small Business Innovation Research award, the application shall demonstrate either of the following:
a. For a Phase I application, that the entity has received a Phase I Small Business Innovation Research award from a federal agency in response to a specific federal solicitation.
b. For a Phase II application, that the entity has received a Phase II Small Business Innovation Research award from a federal agency in response to a specific federal solicitation.
(4) If an entity is seeking a matching grant for a Small Business Technology Transfer Research award, the application shall demonstrate either of the following:
a. For a Phase I application, that the entity has received a Phase I Small Business Technology Transfer Research award from a federal agency in response to a specific federal solicitation.
b. For a Phase II application, that the entity has received a Phase II Small Business Technology Transfer Research award from a federal agency in response to a specific federal solicitation.
(5) Applications shall be considered by the board of the corporation. For an entity seeking a matching grant under subdivision (4), the corporation may give preference to entities seeking matching grants which conduct funded research in this state with HudsonAlpha Institute for Biotechnology, Southern Research Institute, public or nonprofit colleges or universities, community colleges, or any other entity located in the state which is described in 15 U.S.C. § 638(e)(8), with particular focus on underrepresented companies as defined in subsection (c) of Section 40-18-376.4, in a manner that reflects the diversity of gender, race, and geographical areas of the state, and small businesses conducting research in partnership with historically Black colleges and universities. Upon the approval of the board, the corporation may grant available funds to entities in amounts not to exceed the lesser of either of the following:
a. Fifty percent of the relevant federal Small Business Innovation Research or Small Business Technology Transfer award made to the entity.
b.1. For a matching grant awarded to match a federal Phase I award, one hundred thousand dollars ($100,000); or
2. For a matching grant awarded to match a federal Phase II award, two hundred fifty thousand dollars ($250,000).
(6) The corporation shall develop a marketing campaign directed at ensuring that underrepresented companies, as defined in subsection (c) of Section 40-18-376.4, and historically Black colleges and universities are aware of the federal Small Business Innovation Research and Small Business Technology Transfer Research programs, together with the Alabama award match program.
(7) The corporation shall develop a program that will provide federal Small Business Innovation Research and Small Business Technology Transfer Research program application assistance to underrepresented companies, as defined in subsection (c) of Section 40-18-376.4.
(8) The amount and all terms and conditions of the grant shall be memorialized in a grant agreement between the corporation and the entity, which agreement shall include all of the following terms and conditions:
a. The amount of the grant, or the formula under which the amount is computed.
b. The specific use of grant monies paid by the corporation, which use shall not be the recoupment of a personal investment in the entity or the repayment of debt.
c. The condition that the entity, within 12 months after receipt of the grant, shall have its primary place of business in this state, the place of residence of the the majority of its top executives in this state, and the place of residence of at least a majority of its employees for a period of five years after the effective date of the grant agreement in this state.
d. The requirement that the default of the entity, under any provision of the grant agreement, shall result in the repayment of any monies paid to the entity by the corporation, unless the entity should default because it ceases to be a going concern prior.