IL SB1918

Increases the maximum matching grant for SBIR/STTR Phase I awards from $50,000 to $75,000 for Illinois-based small businesses conducting federally-funded research

Creates a new Phase II matching grant program with a maximum award of $250,000, paid in two 50% installments (upon award receipt and upon final report submission)

Limits Phase II grants to one per business per year, with a lifetime maximum of 2 Phase II awards per business

Phase I grants retain the existing structure: 75% paid upon award receipt, 25% upon Phase II application submission, with a lifetime maximum of 5 awards per business

Eligible businesses must be for-profit, Illinois-based, and certify that at least 51% of Phase II research will be conducted in Illinois