§ 15-3-604. Administration
(a) (1) The Arkansas Business and Technology Accelerator Grant Program is created. (2) The Division of Science and Technology of the Arkansas Economic Development Commission shall administer the program. (b) The division shall: (1) Create application forms to be submitted by eligible businesses seeking a business and technology accelerator grant from the program; (2) Devise […]
§ 15-3-605. Application requirements
(a) To request a business and technology accelerator grant under this subchapter, an applicant shall complete and submit the application forms prescribed by the Division of Science and Technology of the Arkansas Economic Development Commission under § 15-3-604. (b) An applicant shall submit an application for each proposed business and technology accelerator grant. (c) The […]
§ 15-3-606. Business and technology accelerator grant awards
(a) A business and technology accelerator grant awarded under this subchapter: (1) Shall not: (A) Be awarded under this subchapter unless offered in writing by the Director of the Arkansas Economic Development Commission; and (B) Exceed two hundred fifty thousand dollars ($250,000); and (2) Subject to funding and the discretion of the director, may be […]
§ 15-3-607. Program funding
Business and technology accelerator grants awarded under this subchapter are limited by the amount of funds allocated to the Arkansas Business and Technology Accelerator Grant Program created under this subchapter.
§ 15-3-608. Rules
The Division of Science and Technology of the Arkansas Economic Development Commission shall promulgate rules to implement and administer this subchapter.
§ 15-3-601. Title
This subchapter shall be known and may be cited as the “Arkansas Business and Technology Accelerator Act”.
§ 15-3-602. Legislative findings
The General Assembly finds that: (1) Corporate growth requires the infusion of innovative ideas, products, and services; (2) A critical component of creating high-skilled, high-wage jobs is the encouragement of the Arkansas innovation entrepreneurial ecosystem to develop technological products and services; (3) Economic growth can be fostered by linking innovative new ideas, products, and services […]
§ 15-3-603. Definitions
As used in this subchapter: (1) “Business and technology accelerator” means a full-time, immersive program administered by an eligible applicant to potentially invest in, mentor, and accelerate commercial development of start-up businesses; (2) “Business and technology accelerator grant” means a discretionary grant of up to two hundred fifty thousand dollars ($250,000) for each approved business […]