Establishes the New York state innovation voucher program to aid small businesses in creating innovative products or services.
The New York state innovation voucher program act creates a program under the Empire State Development Corporation to provide small businesses with access to research and development by colleges, universities, government laboratories, and public research institutes. This program aims to assist businesses in creating innovative products or services, thereby supporting job retention and expansion. The program includes vouchers up to $10,000 for eligible projects, with higher vouchers of up to $50,000 for exceptionally innovative projects.
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