NY S08325

Establishes a three-year matching grant program for small businesses that have received phase one or phase two federal Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) program funding.

Awards $100,000 in year one to 20 businesses, $200,000 in year two to 10 of those businesses, and $500,000 in year three to 4 of those businesses.

Grants may be used to expedite commercialization and cover expenses not allowed under federal SBIR or STTR programs, including patents and marketing studies.

Requires grant recipients to remain headquartered in New York for at least two years following successful product commercialization, or return all awarded funds to the state; allows waiver of clawback if business ceases operations before the two-year deadline.

Takes effect one year after enactment; authorizes the commissioner to establish application procedures and program guidelines in consultation with the division for small business.