The answer is "neither." The Phase III definition does not specifically reach back to either technical data or the technology. It relates back to the "prior SBIR effort." That is, it must derive from prior SBIR research, services, production or other contract efforts in a Phase I, II, or III. That actually broadens the definition. Because prior SBIR efforts entail both the technology and entail the technical data generated in prior efforts, it tangentially relates to both of those as well. Sec. 4 of the Directive specifically uses the term "prior SBIR effort." Thus, in asserting Phase III status, attempt to trace the requirement you are attempting to prove is a Phase III to language in your prior SBIR efforts — Phase I, II, or III contracts, grants, proposals, statements of work, or reports.
The following contents do not represent the view or official positions of the Department of the Navy of any other government agency, nor does the presentation of such materials represent an endorsement or approval of the contents thereof by the Department of the Navy.
