(a) To be eligible for a matching grant under this subchapter, an applicant shall:(1) Be an eligible business; and(2) Certify that:(A) The eligible business: (i) For Phase I applications, has received a Small Business Innovation Research grant from a sponsoring agency in response to a specific federal solicitation; or(ii) For Phase II applications, has: (a) Submitted a final Phase I report to the sponsoring agency;(b) Demonstrated that the sponsoring agency has interest in the Phase II proposal; and(c) Submitted a Phase II proposal to the sponsoring agency; and(B) All federal Small Business Innovation Research grant requirements will be met.(b) An eligible business awarded a matching grant under this subchapter shall:(1) Remain in Arkansas for the duration of the matching grant project;(2) Designate an Arkansas resident or employee as the principal investigator/project manager during the duration of the matching grant; and(3) Be principally engaged in one (1) or more of the following targeted business activities:(A) Advanced materials and manufacturing systems;(B) Agriculture, food, and environmental sciences;(C) Biotechnology, bioengineering, and life sciences;(D) Information

ng targeted business activities:(A) Advanced materials and manufacturing systems;(B) Agriculture, food, and environmental sciences;(C) Biotechnology, bioengineering, and life sciences;(D) Information technology;(E) Transportation logistics; and(F) Bio-based products.Amended by Act 2019, No. 384,§ 1, eff. 7/24/2019.Added by Act 2017, No. 166,§ 2, eff. 10/1/2017.