Purpose
The Technology Development Program provides assistance in development and commercialization of new technology-based products and processes through innovative technology development projects.
Program Description
The 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.
Eligible Users
Qualified applicants include but are not limited to the following: (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 Participate
All applicants must complete the application form below and mail a nonrefundable $100 application fee. An interview and on-site visit may be conducted by the Authority staff.
Evaluation
Applications 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, Guidelines
Rules - PDF
Guidelines - PDF
Applications - PDF
Statement Affirming Accuracy - PDF
Contact
Dr. Steve Stanley, Vice President Commercialization
Arkansas Science & Technology Authority
900 West Capitol, Suite 320
Little Rock, AR 72201
Phone: (501) 683-4408
Fax: (501) 683-4420
steve.stanley@arkansas.gov