Plans are continuing to form for a new business “accelerator program” to drive economic growth and job creation in Oklahoma City, Tulsa and rural areas across the state.
Small businesses and startups in Oklahoma may benefit from a plan announced Tuesday to leverage American Rescue Plan Act funds matched with private venture capital funds in the state.
If passed into law, House Bill 4354, referred to as the Oklahoma Research and Development Act, would direct the Oklahoma Center for the Advancement of Science and Technology (OCAST) to provide matching grants for eligible companies. The companies would then partner in projects with research universities or nonprofit research institutions in the state to foster development of key industries.