Sec. 145-15-2 - Purpose

§ 145-15-2. Purpose

2.1. The West Virginia Small Business Innovation Research and Small Business Technology Transfer Matching Funds Program is established. It shall be administered by the Department of Commerce. The purpose of this matching funds program is foster job creation and economic development in the state. The Department of Commerce may provide grants to eligible small businesses to prepare a competitive Phase I proposal, or match funds they receive from Small Business Innovation Research or Small Business Technology Transfer Phase I and Phase II awards. The Department of Commerce will pay the grants from the fund known as the "Entrepreneurship and Innovation Investment Fund" created pursuant to W.Va. Code § 5B-2-16.

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