(a) Purpose.

1. (1) The purpose of the Technology Transfer Assistance Grant (TTAG) Program is to increase Arkansas industry’s competitiveness through technical and operational advancements by providing funds for the transfer, deployment, or both, of innovative technology to Arkansas-based enterprises to resolve identified technology-based, industry-driven problems, issues, or concerns.
2. (2) TTAG is intended to provide financing that allows a business’s specific technology to better compete for funding from other Division of Science and Technology of the Arkansas Economic Development Commission programs.

3. (3)

   1. (A) TTAG funds may be used to fund costs associated with:

(i) Engineering or technical support fees;

1. (ii) Database searches;

   1. (iii) Travel;

      1. (iv) Responses/cash matches to the Small Business Innovation Research Program or the Small Business Technology Transfer Program; and
      2. (v) Other costs decided on a case-by-case basis.
   2. (B) TTAG funds are generally not approved to purchase fixed assets or training.

2. (4) Maximum Arkansas Economic Development Commission funding per project shall not exceed three thousand seven hundred fifty dollars ($3,750) based on the following:

   1. (A) First two thousand five hundred dollars ($2,500) of project costs; and
   2. (B) Additional amount up to one thousand two hundred fifty dollars ($1,250) based upon a fifty-fifty (50-50) match with the enterprise assisted with TTAG funds for the next two thousand five hundred dollars ($2,500) of project costs.

3. (5)

   1. (A) All costs in excess of five thousand dollars ($5,000) shall be assumed by the assisted enterprise.
   2. (B) However, additional TTAG funds may be awarded at the discretion of the Executive Director of the Arkansas Economic Development Commission.
4. (6) Unlike most division programs, qualified applicants are technology transfer resource providers approved by the division.

(b) Eligibility requirements.

1. (1) Applicant eligibility requirements include the following.

2. (2) Applications will be evaluated based upon the following criteria:

   1. (A) The application is complete and has been submitted by one (1) or more qualified applicants (technology transfer resource providers);
   2. (B) The enterprise being assisted by the applicant or applicants is a business with its principal place of business in Arkansas;
   3. (C) The purpose of the project is to promote the benefits of science and advanced technology to Arkansans by identifying and transferring innovative technology to resolve a specific problem, issue, or concern of an Arkansas-based enterprise; and

   4. (D)

      1. (i) Not more than three thousand seven hundred fifty dollars ($3,750) (with appropriate enterprise matching funds) is being requested from the commission.
      2. (ii) An enterprise may receive only two (2) TTAG awards in any one (1) state fiscal year.
      3. (c) Application submittal process.

3. (1) Applicants for TTAG funds shall submit one (1) completed signed application, using forms provided by the division, and may be subject to:

   1. (A) An interview;
   2. (B) A site visit; or
   3. (C) Both.

4. (2) Applications shall include:

   1. (A) The legal name, address, phone number, and North American Industry Classification System classification of the enterprise being assisted by the technology transfer resource provider;
   2. (B) The name or names, title or titles, and contact information of professional staff affiliated with the enterprise;
   3. (C) The legal name of the technology transfer resource provider;
   4. (D) The name or names, title or titles, and contact information of professional staff affiliated with the technology transfer resource provider;
   5. (E) The area of technology covered in the application;
   6. (F) A brief description of the business and competitive challenges facing the business enterprise;
   7. (G) A brief description of the specific problem and anticipated solution to the project to be addressed;
   8. (H) A description of how the technology transfer resource provider will implement the solution to the problem;
   9. (I) A description of how the business enterprise will maintain the solution after implementation;
   10. (J) A listing of specific tasks to be performed by the project participants;
   11. (K) The anticipated financial impact of the project; and

   12. (L) Any other information as requested by the commission.

       1. (d) Application review and approval process. No financial commitment or approval shall be made by the executive director until the qualified applicant has completed the following review and approval process:

5. (1)

   1. (A) All applications will be evaluated by the commission’s TTAG Review Committee for completeness and for the potential to identify and transfer innovative technology to solve a specific technology-based problem, issue, or concern of an Arkansas-based enterprise.

   2. (B) Review criteria include, without limitation:

      1. (i) The application is complete;
      2. (ii) The qualified applicant and the associated enterprise shall have the support and resources available to ensure a reasonable probability of project success given that a transfer of appropriate technology occurs;
      3. (iii) The qualified applicant or the division shall be able to locate appropriate technology transfer resources willing to assist with the project;
      4. (iv)

(b) (b) The transfer of technology shall:

1. (1) (1) Improve the enterprise’s technical competitiveness, operational competitiveness, or both; and

2. (2) (2) Add value to new or existing products, processes, or services;

   1. (v)

(b) (b) The transfer of technology should provide the enterprise with the ability to compete more effectively in the marketplace; and

1. (vi) The project shall have a time frame of no longer than ninety (90) days;
2. (2) Applicants may be subject to an interview, a site visit, or both, during the application review process;
3. (3) The commission may request an independent review of the application, including the technology employed by the applicant, by an external expert or external experts in accordance with 15 CAR § 147-301;

4. (4)

   1. (A) The executive director, or his or her designee, after reviewing the TTAG Review Committee’s recommendations, will specify which applicants may receive funding.
   2. (B) Unsuccessful applicants will be notified in writing by division staff.
   3. (C) Approved applicants will be required to execute a written agreement outlining the amount, terms, and conditions of the funding; and
5. (5) Division staff shall provide a list of projects funded with TTAG funds to the Board of Directors of the Division of Science and Technology of the Arkansas Economic Development Commission.