NC S494

Increases maximum grant reimbursement for SBIR/STTR Phase I proposal preparation costs from $3,000 to $12,000, with 100% reimbursement for businesses in development tier one or two areas and 50% for others.

Allows businesses to receive up to two grants per year under the Phase I program (increased from one grant per year).

Increases maximum matching funds grant for Phase I awards from $100,000 to $200,000, with 75% paid upon award receipt and 25% upon Phase II application submission.

Raises lifetime award limit for matching funds grants from five to 10 awards per business.

Appropriates $2,000,000 in recurring funds for fiscal years 2021-2022 and 2022-2023, plus $7,000,000 in nonrecurring COVID-19 pandemic relief funds for fiscal year 2021-2022, to the One North Carolina Small Business Account.