Article - Economic Development
(a) (1) In this section the following words have the meanings indicated.
(2) “Corporation” has the meaning stated in § 10–401 of this title.
(3) “Phase 0” means the initial application process for the federal Small Business Innovation Research grant program or the federal Small Business Technology Transfer grant program.
(4) “Phase I” means a small business has received up to $150,000 in federal Small Business Innovation Research funding for approximately 6 months or federal Small Business Technology Transfer funding for 1 year, with the meaning stated in 15 U.S.C. § 638.
(5) “Phase II” means a small business has received up to $1,000,000 in funding for up to 2 years to expand Phase I results, with the meaning stated in 15 U.S.C. § 638.
(6) “Program” means the Maryland Small Business Innovation Research Technical Assistance Program.
(b) There is a Maryland Small Business Innovation Research Technical Assistance Program in the Corporation.
(c) The purpose of the Program is to provide technical assistance to small businesses in the State by:
(1) encouraging small businesses, including economically disadvantaged small businesses, to apply for grants under the federal Small Business Innovation Research grant program and the federal Small Business Technology Transfer grant program; and
(2) providing grant applicants with technical assistance, including training assistance and assessments through Phases 0, I, and II of development.
(d) To qualify for participation, a small business shall:
(1) have its principal business operations located in the State, have over half of its workforce working in the State, and intend to maintain its principal business operations in the State; and
(2) have not more than 50 employees.
(e) The Corporation may adopt regulations establishing additional criteria for eligibility and allocation of assistance.
(f) In accordance with the requirements of Division II of the State Finance and Procurement Article, the Corporation may procure a nonprofit organization located in the State to provide services under the Program.