Final answer:
During Phase II of an SBIR grant, up to $1 million can be awarded to small businesses to support their principal R&D efforts and help bring innovations closer to commercialization.
Step-by-step explanation:
During Phase II of an SBIR grant, up to $1 million can be awarded. The SBIR (Small Business Innovation Research) program is a highly competitive program that encourages domestic small businesses to engage in Federal Research/Research and Development (R&D) with the potential for commercialization. In Phase I, the aim is to establish the technical merit, feasibility, and commercial potential of the proposed R&D efforts and to determine the quality of performance of the small business awardee organization prior to providing further Federal support in Phase II.
Phase II is the principal R&D effort and is expected to produce a well-defined deliverable prototype or process. Companies that have completed Phase I are eligible to apply for Phase II funding, and this second phase typically allows for a larger sum of money to be awarded to support the project. It's important to note that these award values can be subject to change based on legislative updates or agency-specific guidelines.