§ 5035 Creation; definitions.
(a) There is hereby created the Delaware Technical Innovation Program to be administered by the Delaware Economic Development Office.
(b) For the purpose of this subchapter the following definitions shall apply:
(1) "Council" means the Council on Development Finance as defined in § 5007 of this title.
(2) "Office" means the Delaware Economic Development Office.
(3) "Small business" means a corporation, partnership, limited liability company, statutory or common law business trust, sole proprietorship or individual, operating a business for profit, with 100 employees or fewer, including employees employed in any subsidiary or affiliated corporation or other form of business entity which otherwise meets the requirements of the federal Small Business Innovation Research Program or Small Business Technology Transfer Program.
(4) "Small Business Technology Transfer Program" or "STTR Program" means that program, enacted pursuant to the Small Business Technology Transfer Act of 1992, P.L. 102-564 (15 U.S.C. § 638), which provides funds to small businesses to conduct jointly with nonprofit research institutions, cooperative research and development having commercial application.
(5) "Small Business Innovation Research Program" or "SBIR Program" means that program, enacted pursuant to the Small Business Innovation Development Act of 1982 (P.L. 97-219) [15 U.S.C. § 638], which provides funds to small businesses to conduct innovative research having commercial application.
§ 5036 Duties.
In carrying out this Program, to promote technology development and utilization within the small business sector, the duties of the Delaware Economic Development Office shall include but not be limited to:
(1) Promote the SBIR and STTR Programs among Delaware small businesses.
(2) Seek technical assistance for small businesses to participate more effectively in the federal SBIR and STTR Programs.
(3) Coordinate efforts with small business, institutions of higher education, financial institutions and government to affect timely development and utilization of new development of technology.
(4) Administer state matching funds in association with the Delaware Technical Innovation Program for the federal SBIR and STTR Programs to provide state matching funds to compensate for the lag between federal Phase I and Phase II awards under the SBIR and STTR Programs.
(5) Coordinate efforts within the business sector to commercialize innovative products and processes developed by small businesses.
(6) Assist small businesses that are engaged in technology development and utilization in obtaining private sector financing.
(7) Develop job training programs to meet specific needs for small business.
(8) Review and recommend ways of streamlining relevant state regulations to expedite the development of innovative products and processes.
§ 5037 Matching funds for federal Small Business Innovation Research Program.
(a) The State may provide matching funds up to a maximum of the federal grant for Phase I if:
(1) A small business has won a Phase I award in the federal SBIR or STTR Programs;
(2) Such small business has submitted a proposal for a Phase II award;
(3) Such small business' principal place of business is located in this State; and
(4) Such small business certifies that the research to be conducted will benefit the Delaware economy.
(b) The Council shall establish criteria and the Office shall administer the state matching funds.
§ 5038 Reporting.
The Delaware Economic Development Office shall report to the Governor and the General Assembly on or before January 15, 1990, and every year thereafter.