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Technology Development ProgramPurposeThe Technology Development Program provides assistance in development and commercialization of new technology-based products and processes through innovative technology development projects. Program DescriptionThe Arkansas Science & Technology Authority's Technology Development Program provides royalty financing for qualified projects possessing a well developed, comprehensive project plan, and which utilizes the benefits of science and technology to provide economic and employment growth potential in Arkansas. The maximum investment is $ 100,000 with terms negotiated on an individual basis. These terms are a maximum five percent of net sales for a maximum term of 10 years. Qualified energy-related Technology Development projects are funded separately. Public FundsPublic funding of $156,975 was appropriated for each year of the 2007-2008 biennium for both the Technology Development and Technology Transfer Programs. Eligible UsersThese qualified applicants are eligible for the Technology Development Program: (1) researchers at Arkansas colleges and universities, (2) researchers at federal laboratories in Arkansas, (3) Arkansas-based small businesses, and (4) inventors in Arkansas. How to ParticipateAll applicants must complete an application form, which includes a cover sheet and a project plan. An interview and on-site visit may be conducted by the Authority staff. EvaluationApplications will be reviewed by the Authority staff for completeness. Only completed applications will be considered for evaluation. Projects will be evaluated by the Authority, which may request the assistance of appropriate representatives from academia, private industry, and the public sector. Evaluation criteria includes technical, production and commercial feasibility, economic potential, and patentability. Rules, GuidelinesThe following forms are pdf documents and require Rules -PDF
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