The SMART Business Act (Strengthening Mississippi Academic Research Through Business Act) was established during the 2013 Legislative Session and was created to stimulate private business investment into university research. Applicants who are approved by the Mississippi Institutes of Higher Learning (IHL) will be eligible for a rebate equal to 25 percent of the total qualified investment cost, not exceeding $1 million.

The application period for the first round will be open from September 9th, 2013 through November 7th, 2013. Any person, business, limited liability company, association, or other business entity is eligible to apply after entering into a new research agreement with a Mississippi Public University. Priority will be given to applications focusing on the areas of healthcare, energy, and advanced manufacturing.

Applications and more information can be found here.