Section 41-10-820 Leglislative Findings.

The Legislature finds and declares all of the following: (1) The federal Small Business Innovation Research and Small Business Technology Transfer Research programs encourage innovative small businesses to engage in research that has the potential for technological innovation and commercialization. (2) Stimulating research and commercialization will grow the Alabama economy by leveraging investment, creating exportable products and services, and creating and retaining high wage jobs in both moderately and highly skilled occupations. (3) This state is not meeting its full potential in terms of the number and amount of federal Small Business Innovation Research and Small Business Technology Transfer Research awards. (4) An inducement, in the form of a matching grants program, is needed to encourage Alabama businesses to apply for federal Small Business Innovation Research or Small Business Technology Transfer Research awards, or both, and to realize the economic benefits of commercialized research.