SECTION 650:30-1-1. Purpose

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The rules of this Chapter have been adopted for the purpose of complying with the provisions of the Administrative Procedures Act, 75 O.S., Sections 250 et seq. The OCAST SBIR Phase I Incentive Program has been created to financially support the preparation of Small Business Innovation Research (SBIR) grant proposals by Oklahoma entities, and thereby help increase Oklahoma's share of SBIR funding, 74 O.S., Section 5060.19(D). The three-phased federal SBIR program was initiated in the Small Business Innovation Development Act of 1982, PL 97-219 and PL 99-443, to stimulate technological innovation; to require certain federal agencies to contract with small firms for a portion of their external research requirements; to encourage small, innovative firms to participate in government research; and to facilitate commercialization of research results.

                    
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