{"data":{"id":"us-ok/okla.-stat.-tit.-74-74-5003.10g","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 74, § 74-5003.10g","heading":"Research and Development Attraction Program","body":"A. The Oklahoma Center for the Advancement of Science and\n\nTechnology (OCAST) shall create a Research and Development\n\nAttraction Program (Program), to be administered in accordance with\n\nthis section for the purpose of fostering research and development\n\nin key industry clusters, leading to the creation of new products\n\nand services that are brought to market by Oklahoma-based companies,\n\nor brought to market by relocating companies financially sponsored\n\nby an Oklahoma-based capital provider and which conduct a\n\nsubstantial portion of total business activity in the State of\n\nOklahoma.\n\nB. OCAST may award matching funds to eligible businesses to\n\noffset a portion of expenses incurred through a collaborative\n\nresearch and development project engagement with an Oklahoma\n\ninstitution of higher education or nonprofit research institution.\n\nC. OCAST may award matching funds up to fifty percent (50%) of\n\nthe cost of the project, not to exceed One Hundred Thousand Dollars\n\n($100,000.00). A business may receive only one matching award under\n\nthis section per year.\n\nD. In order to be eligible for matching funds under this\n\nsection, a business must satisfy all of the following conditions:\n\n1. The business must be an Oklahoma-based small business. For\n\nthe purposes of this section, \"Oklahoma-based\" means a business that\n\nhas its principal place of business in this state or a business that\n\nhas, in the preceding twelve (12) months, raised an equity round not\n\nless than Five Hundred Thousand Dollars ($500,000.00) with an\n\nOklahoma-based capital provider investing not less than ten percent\n\n(10%) of such equity round, that commits to spend all eligible\n\nProgram funds in the State of Oklahoma, and that has filed a\n\ncertificate of qualification with the Oklahoma Secretary of State.\n\nFor the purposes of this section, \"small business\" means a business\n\nentity that employs not more than one hundred (100) persons;\n\n2. In accordance with the Oklahoma Office of Science and\n\nInnovation's 2021-2026 strategic plan, the business must operate in\n\none of the state's three strategic industry clusters, including\n\naerospace and autonomous systems, life sciences, and energy\n\ndiversification;\n\n3. The research and development service provider which partners\n\nwith the business must be an Oklahoma-based research entity. For\n\nthe purposes of this section, \"Oklahoma-based research entity\" means\n\nan institution of higher education or another nonprofit organization\n\nthat primarily provides research services, and which has its main\n\nphysical campus in this state. For the purposes of this section,\n\n\"research services\" means research and development, technology\n\nexploration, technical development, product development, and\n\ncommercialization intended to foster innovation in eligible small\n\nbusinesses;\n\n4. The research and development project for which matching\n\nfunds are provided must be conducted physically within the State of\n\nOklahoma for the duration of the engagement with the Oklahoma-based\n\nresearch entity; and\n\n5. To be awarded matching funds under the Program, an Oklahoma-\n\nbased small business must file an application with OCAST attesting\n\nto the total cost of the project and demonstrating available and\n\nunrestricted private capital to meet at least fifty percent (50%) of\n\nthe total project cost. Matching funds may be used only to purchase\n\nresearch services, as defined in this section, from an Oklahoma-\n\nbased research entity.\n\nE. When administering the Program under this section, OCAST\n\nshall select eligible projects to qualify for matching funds within\n\nthe Oklahoma Research and Development Attraction Act based on\n\nfactors including, but not limited to:\n\n1. The amount of private capital the matching funds will induce\n\nto be spent in Oklahoma;\n\n2. The total market size of the Oklahoma-based small\n\nbusinesses' product or service offering;\n\n3. Third-party validation of the Oklahoma-based small\neligible projects to qualify for matching funds within\n\nthe Oklahoma Research and Development Attraction Act based on\n\nfactors including, but not limited to:\n\n1. The amount of private capital the matching funds will induce\n\nto be spent in Oklahoma;\n\n2. The total market size of the Oklahoma-based small\n\nbusinesses' product or service offering;\n\n3. Third-party validation of the Oklahoma-based small\n\nbusinesses' intellectual assets, including but not limited to equity\n\nraised from venture capital or private equity firms, federal\n\ncommercialization grants through the Small Business Innovation\n\nResearch or Small Business Technology Transfer Programs, or\n\ncompetitive federal research awards through National Institutes of\n\nHealth, National Science Foundation, Department of Defense,\n\nDepartment of Energy, and others;\n\n4. The projected future job creation impact of the Oklahoma-\n\nbased small business for the state;\n\n5. Other economic benefits to the state, including through\n\nincreased state and local revenues and growth in private investment;\n\n6. The need of the Oklahoma-based small business to acquire\n\nspecialized services and resources in Oklahoma;\n\n7. The alignment of the project within Oklahoma's identified\n\ncluster strategies; and\n\n8. The impact on Oklahoma-based research entities, including\n\nthrough increased revenue, exposure to new technologies, and\n\nincreased attraction opportunities for students, researchers, and\n\nprofessional staff.","path":["OK Code","Title 74"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os74.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"3e3d07baef131b1707b54c0aa9c29e316da87e4b101b6570df7c1eb1d0d4a8c9","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-74-74-5003.10f","next":"us-ok/okla.-stat.-tit.-74-74-5003.10h"},"notice":"GroundRules: Original legal text. Not legal advice."}