Section 15-32-8 - Preferences and priorities in awarding grants(a) If available funds are insufficient to award all qualified applicants, preference shall be given to:(1) Qualified businesses that have received their first federal SBIR or STTR award;(2) Qualified businesses receiving their first award from the development corporation in the current fiscal year over multiple award grantees; and(3) Qualified businesses that have completed an I-Corps or SBIR Commercialization Assistance Program.(b) The development corporation shall not grant more than one Phase II or Phase III award to any business in a fiscal year unless funding remains available in the last quarter of the fiscal year.(c) The development corporation shall be guided by the nature and economic significance of the innovation and research activity of each grant application, the importance of the grant to the activity's success, and the potential economic advantage or job creation prospects offered to the State in determining the distribution of funds. [Eff. DEC 21 1989] (Auth: HRS secs. 91-2, 206M-15) (Imp: HRS secs. 91-2, 206M-15)Am and comp 12/13/12; am and comp 3/11/2016