SB1918 establishes a grant program to match federal SBIR/STTR awards for Illinois-based businesses.
SB1918 amends the Illinois Department of Commerce and Economic Opportunity Law to create a matching grant program for Illinois-based businesses that receive Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) Phase I awards from federal agencies. The Department may award grants up to $75,000 for Phase I awards and up to $250,000 for Phase II awards. To qualify, businesses must be for-profit and based in Illinois, have received a federal SBIR/STTR award, and meet other specified conditions.
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