Bill > A07663

This bill establishes the New York State Innovation Voucher Program, designed to help small businesses access research and development resources from colleges, universities, government laboratories, and public research institutes. The program, administered by the Empire State Development Corporation, will provide vouchers of up to $10,000 per project (or up to $50,000 for exceptionally innovative projects) to eligible small businesses to support the development of innovative products or services. Recipients must match the voucher amount dollar-for-dollar and can work with research partners of their choosing. Eligible projects must focus on innovation that potentially leads to job growth and business expansion, with costs covering activities like prototype development and field testing. An advisory committee will review applications, evaluating them based on project innovation, technical feasibility, commercial viability, and potential job impact. The program includes specific provisions for outreach to minority, women-owned, and veteran-owned businesses, and requires quarterly public reporting on voucher usage, funding, recipients, and program outcomes. The Empire State Development Corporation is authorized to develop rules and regulations to implement the program within 180 days of the law's effective date, with funding to be drawn from available appropriations.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/A7663