AR SB218

Expands the Arkansas Small Business Innovation Research Matching Grant Program to include Small Business Technology Transfer (STTR) grants in addition to SBIR grants, allowing businesses with either federal grant type to qualify for state matching funds

Transfers program administration from the Division of Science and Technology to the Arkansas Economic Development Commission directly

Removes the requirement for the Commercialization Committee of the Board of Directors to review and advise on applications, streamlining the approval process

Eliminates the cap limiting businesses to no more than three matching grants under the program

Matching grants remain at up to 50% of the federal award, capped at $50,000 for Phase I and $100,000 for Phase II, with at least 51% of funds required to be spent in Arkansas