An Act establishing the Pennsylvania SBIR/STTR Matching Funds Program to provide technology grants to small businesses.

This bill creates the Pennsylvania Small Business Innovation Grant and Small Business Technology Transfer Matching Funds Program to offer financial support to local small businesses participating in federal research initiatives. Administered by the Department of Community and Economic Development, the program provides matching grants of up to $50,000 to businesses that have received Phase I awards from the Small Business Administration for federal research projects. To qualify, companies must be headquartered in Pennsylvania, commit to keeping at least 51% of their research work within the state, and submit specific reports demonstrating their ability to advance the project to Phase II. The legislation also sets limits on funding, allowing each business to receive only one grant per year and a maximum of five total awards, with funds released in installments tied to project milestones.