Iowa Administrative Code › Agency 261 - Economic Development Authority › Part V - Innovation and Commercialization Activities › Chapter 108 - Acceleration and Development of Innovative Ideas and Businesses › Rule 261-108.4 - Program Description, Application Procedures, and Delegation of Functions

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
General description.
The program provides technical assistance
				and financial assistance for the expansion of POCR, the expansion of applied
				research, and support for MEP. All awards of financial assistance must
				ultimately be approved by the board, after submission of a proposal by the
				applicant and a recommendation on the proposal by the committee. A contract
				must be entered into with the authority before moneys will be disbursed to an
				applicant.
(2)
Program
				component descriptions and activities.
The program has three primary
				components: a POCR component, an applied research component, and an MEP
				component.
a. The POCR component makes
				financial assistance available to applicants who undertake projects that
				commercialize new technologies. The authority will award financial assistance
				to innovative businesses that are pursuing the validation of the marketability
				of a technology. Applicants may submit applications to the authority for
				assistance under this component. Such applications should describe in detail
				what technologies the applicant is researching, how the applicant is pursuing
				commercialization of those technologies, and how the financial assistance will
				be used to bring the new technologies to market in Iowa.
b. The applied research component makes
				financial assistance available to innovative businesses in order to allow them
				to better connect university research to their needs and to accelerate the
				transfer of new technologies to the marketplace. The authority may award
				financial assistance to university researchers who are attempting to bring
				their research more in line with market and industrial needs by forming
				partnerships with innovative businesses. Financial assistance under this
				component may take the form of grant funds. If grant funds are awarded, the
				applicant shall be required to match the amount of grant funds with other
				moneys at a ratio of one to one. Applicants may submit applications to the
				authority for assistance under this component. Such applications should
				describe in detail what activities the applicant will engage in to accelerate
				the validation of technology for the marketplace.
c. The MEP component makes financial
				assistance available to service providers that form partnerships with
				innovative businesses to conduct workshops for the purpose of providing
				assistance in determining and prioritizing applied research needs based on gaps
				in productivity or product needs and that offer to broker connections between
				innovative businesses and the researchers who can perform the necessary applied
				research. Financial assistance is also available to innovative businesses under
				this component for product development, design verification, custom equipment
				development, manufacturing process development, and technology development and
				commercialization. The authority will award financial assistance to eligible
				innovative businesses. Applicants may submit applications to the authority for
				assistance under this component. Such applications should describe in detail
				the nature of the partnerships being formed, what activities the partnership
				will undertake, and how such activities will further the goals of this
				component. Applicants must submit applications for assistance under this
				component and must describe in detail how the proposed services will expand the
				applicant's market penetration, create a new product with market relevance, or
				enhance an existing product by further innovation.