Okla. Admin. Code § 650:35-1-1

Current through Vol. 42, No. 8, January 2, 2025

Section 650:35-1-1 - Purpose

(a) The rules of this Chapter have been adopted for the purpose of complying with the provisions of the Administrative Procedures Act, 75 O.S., Sections 250 et seq. The OCAST SBIR Matching Funds Program has been created as a matching support program which meets the highest current standards for state matching support to federal SBIR program grants, 74 O.S., Section 5060.19(D). The primary goal of the program is to increase the potential for bringing more federal dollars into Oklahoma to fund private-sector research through increased submission of SBIR Phase II proposals. The providing of matching funds from the State will:

(1) act as an incentive to firms to apply for a federal SBIR Phase II award, and

(2) assist qualifying firms to sustain their research and operations during the "funding gap" that occurs between the end of Phase I and the notification on Phase II.

(b) The three-phased federal SBIR program was initiated in the Small Business Innovation Development Act of 1982, PL 97-219 and PL 99-443, to stimulate technological innovation; to require certain federal agencies to contract with small firms for a portion of their external research requirements; to encourage small, innovative firms to participate in government research; and to facilitate commercialization of research results.

Okla. Admin. Code § 650:35-1-1