(a) (1) The Arkansas Small Business Innovation Research Matching Grant Program is created.(2) The Arkansas Economic Development Commission shall administer the program.
(1) The Arkansas Small Business Innovation Research Matching Grant Program is created.
(2) The Arkansas Economic Development Commission shall administer the program.
(b) The commission shall:(1) Create application forms to be submitted by eligible businesses seeking a matching grant from the program;(2) Devise an application process that:(A) Defines the eligibility criteria for a matching grant; and(B) Establishes application submittal and review processes;(3) Define a process by which matching grants may be awarded; and(4) Execute standard legal grant agreements and other documentation governing the disbursement and use of matching grants.
(1) Create application forms to be submitted by eligible businesses seeking a matching grant from the program;
(2) Devise an application process that:(A) Defines the eligibility criteria for a matching grant; and(B) Establishes application submittal and review processes;
(A) Defines the eligibility criteria for a matching grant; and
(B) Establishes application submittal and review processes;
(3) Define a process by which matching grants may be awarded; and
(4) Execute standard legal grant agreements and other documentation governing the disbursement and use of matching grants.