§ 52-A — Small business innovation research and small business technology transfer matching grant program

§ 52-a. Small business innovation research and small business\ntechnology transfer matching grant program. 1. The corporation, subject\nto available appropriations and in consultation with the department of\neconomic development's division for small business, shall establish a\nmatching grant program to provide funds to small businesses who have\nbeen awarded phase one or phase two grants under the federal small\nbusiness innovation research program or the small business technology\ntransfer program. Such grants shall be awarded based on a company's\npotential for commercialization and job growth. As used in this section,\n"small business" shall have the same meaning as provided for in section\none hundred thirty-one of the economic development law.\n 2. The funding amounts for such grant program shall be as follows:\n (a) For small businesses that have been awarded phase one funding\nunder the federal small business innovation research program or the\nsmall business technology transfer program, the amount shall be up to\none hundred thousand dollars.\n (b) For small businesses that have been awarded phase two funding\nunder the federal small business innovation research program or the\nsmall business technology transfer program, the amount shall be up to\ntwo hundred thousand dollars.\n (c) For small businesses that have been awarded phase three status\nunder the federal small business innovation research program or the\nsmall business technology transfer program, such businesses shall be\nprovided access to technical assistance and outreach support through\nrelevant programs of the corporation or the division of economic\ndevelopment best suited to foster such businesses continued success and\ngrowth, including but not limited to the manufacturing extension\nprogram, centers for advanced technology program, centers of excellence\nprogram, the state small business credit initiative program, certified\ninnovation hot spots program, certified business incubator program,\nentrepreneurial assistance centers, business competitions and\naccelerators supported by the corporation or department of economic\ndevelopment, and venture capital investments administered by the\ncorporation or department of economic development.\n 3. Small businesses applying to the federal small business innovation\nresearch program or the small business technology transfer program may\napply to the corporation for a commitment letter that may be included in\ntheir application to the federal programs named herein to demonstrate\ncontingent state support and therefore increase their likelihood of\nreceiving federal small business innovation research and small business\ntechnology transfer matching grant program funding. State matching\ngrants shall only be provided to small businesses that are selected for\nan award through the federal small business innovation research program\nor the small business technology transfer program.\n 4. Such funds awarded pursuant to this section shall be used to\nexpedite commercialization and generally used to cover expenses not\nallowed under the federal small business innovation research program or\nthe small business technology transfer program, including but not\nlimited to business planning, commercialization, patents and marketing\nstudies in sales efforts. Additionally, the corporation shall offer\ngrantees assistance with accessing existing resources offered through\nthe corporation or the department of economic development that cover\nareas such as business planning inclusive of business financial\nplanning, commercialization, intellectual property and patents,\nmentoring, international trade and export development, and marketing\nstudies in sales efforts support to ensure the most efficient use of\nfunds awarded through this program.\n 5. Such funds shall be awarded on condition that the small business\nrecipient remains headquartered and operates or manufactures in the\nstate for at least two years following the successful commercialization\nof the business's product or products. Any small business that has\nreceived funding under this program that is not headquartered and\noperates or manufactures in the state for at least two years following\nthe successful commercialization of the business's product or products\nshall return all grant awards to the state. If the small business ceases\noperations before five years after the commercialization of its product\nor products, such business shall be eligible for a waiver of this\nclawback provision, as determined by the corporation, in consultation\nwith the department of economic development's division for small\nbusiness.\n 6. The corporation, in consultation with the department of economic\ndevelopment's division for small business, shall establish the form and\nmanner in which applications for grant awards shall be submitted and\nshall establish rules, regulations, or guidelines for the grant program.\nThe corporation shall endeavor to advance applicants that can\ndemonstrate the degree to which their small business or product advances\na green and sustainable economy, or supports traditionally disadvantaged\npopulations.\n The corporation shall review each application for compliance with the\neligibility criteria and other requirements set forth in the program's\nrules, regulations, or guidelines established by the commissioner. The\ncorporation may approve or reject each application or may return an\napplication for modifications, if necessary.\n 7. The corporation, beginning on June first, two thousand twenty-four,\nand annually thereafter, provided program funds remain, shall submit a\nreport to the governor, the temporary president of the senate, and the\nspeaker of the assembly. Such annual report shall include, but need not\nbe limited to: the number of applicants by stage; the number of\napplicants approved to receive grants; the total amount of grants\nawarded and the average amount of such grants awarded; and such other\ninformation as the corporation determines necessary and appropriate.\nSuch report shall be included on the corporation's website and any other\npublicly accessible state databases that list economic development\nprograms, as determined by the corporation.\n