The General Assembly finds that:(1) The federal Small Business Innovation Research Program encourages innovative small businesses to engage in federal research and commercialization that has the potential for technological innovation and commercialization;(2) Stimulating research and commercialization grows the economy by leveraging investment, creating exportable products and services, and creating and retaining high-wage, high-tech jobs in moderately and highly skilled occupations;(3) Arkansas consistently ranks poorly among states in the number of federal Small Business Innovation Research grants awarded; and(4) An inducement, in the form of a matching grants program, is needed to encourage Arkansas businesses to apply for federal Small Business Innovation Research grants and realize economic benefits of commercialized research.Added by Act 2017, No. 166,§ 2, eff. 10/1/2017.
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