HAR §15-32-8. Preferences and priorities in awarding grants

(a) If available funds are insufficient to award all qualified applicants, preference shall be given to: (1) Qualified businesses that have received their first federal SBIR or STIR award; (2) Qualified businesses receiving their first award from the development corporation in the current fiscal year over multiple award grantees; and (3) Qualified businesses that have completed an I-Corps or SBIR Commercialization Assistance Program. (b) The development corporation shall not grant more than one Phase II or Phase III award to any business in a fiscal year unless funding remains available in the last quarter of the fiscal year. (c) The development corporation shall be guided by the nature and economic significance of the innovation and research activity ofeach grant application, the importance ofthe grant to the activity's success, and the potential economic advantage or job creation prospects offered to the State in determining the distribution offi.mds. [Eff 12/2 1/89; am and comp 12/13/12; am and comp 3/11/16; am and comp FEB ~ 3 2019 ] (Auth: HRS §206M-15) (Imp: HRS §206M-15)