Each grant awarded will be divided into two equal amounts and disbursed over a two-year period.

Stage 1: 50% of the Innovation Retention Grant award will be paid upon proof of a Phase I or Phase II SBIR/STTR award.

Stage 2: 50% of the Innovation Retention Grant award will be paid upon the submission of evidence that 50% of the SBIR/STTR Phase I or II award has been received.