West Virginia Code 5B-8-2 – Creating a matching program

Current as of: 2023 | Check for updates | Other versions

The West Virginia Small Business Innovation Research and Small Business Technology Transfer Matching Funds Program is established. It shall be administered by the department which is hereby authorized to promulgate legislative rules governing the program. In order to foster job creation and economic development in the state, the department may provide grants to eligible small businesses to match funds they receive from Small Business Innovation Research or Small Business Technology Transfer Phase I and Phase II awards. The department will pay the grants from the fund known as the “Entrepreneurship and Innovation Investment Fund” created pursuant to § 5B-2-16 of this code.

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Terms Used In West Virginia Code 5B-8-2

Department: means the West Virginia Department of Economic Development. See West Virginia Code 5B-8-1
Small business: means a corporation, partnership, limited liability company, statutory or common law business trust, sole proprietorship, or individual, operating a business for profit, which qualifies as a small business and otherwise meets the requirements of the SBIR or STTR programs. See West Virginia Code 5B-8-1
State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10

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