NY S01862

Establishes the New York State Innovation Voucher Program under the Empire State Development Corporation to provide small businesses with access to research and development services from colleges, universities, government laboratories, and public research institutes.

Awards vouchers up to $10,000 per eligible project, with vouchers up to $50,000 available for exceptionally innovative projects in emerging technology fields, with eligible recipients required to match voucher amounts dollar-for-dollar.

Eligible recipients are small businesses as defined in Economic Development Law section 131; applications evaluated by advisory committees based on proposal strength, innovation, technical feasibility, commercial viability, and job creation potential.

Requires the corporation to maintain and update quarterly a list of approved research and development partners, develop outreach to minority-, women-owned, and veteran-owned businesses, and post quarterly reports on vouchers issued, funding used, and program success metrics including jobs created and patents produced.

Authorizes rules and regulations to be completed within 180 days of the act's effective date; the act takes effect 180 days after becoming law.