(a) The office shall issue a request for proposals for the Accelerate California: Inclusive Innovation Hub Program.

(b) An applicant’s proposal shall include, but shall not be limited to, all of the following information:

(1) A statement of purpose.

(2) A signed statement of cooperation and a description of the roles and relationships of each entity involved in the Accelerate California: Inclusive Innovation Hub.

(3) A designated Accelerate California: Inclusive Innovation Hub director who will be responsible for statewide program oversight and coordination of statewide activities, convening of statewide partners, and engagement of regional Accelerate California: Inclusive Innovation Hub designees.

(4)  Identification of one Accelerate California: Inclusive Innovation Hub per Community Economic Resilience Fund region, where applicable.

(5) A clearly stated regional Accelerate California Hub designee to coordinate Accelerate California: Inclusive Innovation Hub activities within its respective service area.

(6) A clearly identified location with an explanation as to how the location is central to the potential client base.

(7) Clearly identified benchmarks or milestones with approximate dates as to when they will be achieved.

(8) A complete budget including a description of secured funds with proof, pending funds, and potential future funding sources.

(9) A list and brief description of local and regional incentives and support programming that aligns with the objectives of the Accelerate California: Inclusive Innovation Hub program and the applicant’s proposal and focus area.

(10) A clearly articulated commercial market focus and plan.

(11) A clearly articulated Accelerate California: Inclusive Innovation Hub management structure and plan that may include a description of the capabilities, qualifications, and experience of the proposed management team, team leaders, or key personnel who are critical to achieving the proposed objectives.

(12) A list of Accelerate California: Inclusive Innovation Hub assets and resources.

(13) A clearly articulated focus area of the Accelerate California: Inclusive Innovation Hub including underserved geographic areas, industry sectors, and business owners, or other targeted areas for development and growth that will be served by grant funds.

(14) A list of specific resources available to support and guide startup companies in Accelerate California: Inclusive Innovation Hub industry sectors.

(15) A clearly articulated list of goals to be achieved with the certification of the Accelerate California: Inclusive Innovation Hub.

(16) Expectations for job development and business creation, growth, and expansion.

(17) Defined performance standards agreed upon by the partners involved in the development of the application for an Accelerate California: Inclusive Innovation Hub. This shall include how the hub will identify and support the selected underserved geographic areas and underserved business owners.

(18) Evaluation procedures that will be used to measure the level of achievement for each stated goal.

(19) A plan for sustainability that includes an extension of the program beyond the initial four years.

(20) Organizational experience including capabilities, related experience, facilities, techniques, unusual resources, or unique combinations of these that are integral factors for achieving the proposed objectives.

(21) Demonstrated experience in developing innovation programming, such as technology transfer and commercialization programs in partnership with industry, university, or federal partners.

(22) Demonstrated experience with intellectual property management and licensing.

(23) Evidence of community engagement and established partnerships in the proposed region.

(24) A clearly articulated plan to outreach to the designated underserved geographic regions and underserved business owners.

(25) A list of small business technical assistance grantees, as described in Article 7 (commencing with Section 12100.60) who serve the designated regions.

(26) A detailed program design and implementation plan describing how the hub will develop and implement the program, including specifics on attracting entrepreneurs and small business to the program, any application and selection processes, and program components.

(c) The office may waive any of the requirements listed in subdivision (b) for purposes of waiving requirements that disadvantage a rural community that applies and does not have all of the required components.

(d) The office may designate an Accelerate California: Inclusive Innovation Hub for a term of not more than four years. An Accelerate California: Inclusive Innovation Hub may reapply for a designation without limitation on the number of times.

(e) (1) The Accelerate California: Inclusive Innovation Hub designation shall not be official until a grant agreement is entered into by the applicant and the office. The grant agreement shall include the goals and performance standards identified in the application and other related requirements as determined by the office.

(2) For an iHub previously designated by GO-Biz or an iHub2 previously designated by the office to be designated as an Accelerate California: Inclusive Innovation Hub by the office, the designation is required to be newly awarded under the Accelerate California: Inclusive Innovation Hub Program.

(f)  One Accelerate California: Inclusive Innovation Hub may be awarded per applicable Community Economic Resilience Fund region.

(g) The office shall set guidelines for approval, designation, operation, reporting, redesignation, and dedesignation of Accelerate California: Inclusive Innovation Hubs. The guidelines shall include all of the following:

(1) A protest and appeal process relative to the designation of a hub.

(2) A dispute resolution process

(3) All relevant information for applying for a grant.

(h) (1)  An Accelerate California: Inclusive Innovation Hub shall quarterly and annually report to the office on its progress in meeting the goals and performance standards as described in the Accelerate California: Inclusive Innovation Hub application and implementing grant agreement with the office.

(2) The office shall annually prepare a report that summarizes the information collected from paragraph (1). This reporting requirement may be met by providing the same information in the annual report of the office. This report shall include for each Accelerate California: Inclusive Innovation Hub the following information:

(A) A description of the service area or areas as articulated in the application and implementing grant agreement, including how its services were made and equitably available to underserved geographic areas and underserved business owners.

(B) The goals and performance standards identified in the application and implementing grant agreement.

(C) Descriptive information about the educational, research, governmental, business, nonprofit, philanthropic, financial, or investor entities involved in the Accelerate California: Inclusive Innovation Hub.

(D) A financial statement showing total revenues, including the sources of revenue, expenditures, and assets. The financial statements should be presented in a consistent manner across the Accelerate California: Inclusive Innovation Hubs.

(E) The number of participating entrepreneurs and startup businesses and the change in the number and composition of participating startup businesses.

(F) Descriptive information about the participating startup businesses that may include, but are not limited to, geographic location, industry sectors, business legal structure, owners’ demographics, financing acquired, equity capital raised during the year, revenues, profits, and number of employees.

(G) A description of the progress in meeting the goals and performance standards identified in the application and implementing grant agreement.

(H) A description of the services provided by the office throughout the year to support the Accelerate California: Inclusive Innovation Hubs.

(3) The office shall post the report described in paragraph (2) on its internet website and provide notice to the Governor, the relevant policy committees of the Legislature, and the Legislative Analyst’s Office that the information is available on the internet website.

(i) The office shall evaluate, on or before January 1, 2026, the effectiveness of the Accelerate California: Inclusive Innovation Hub program to submit a written report to the Director of Finance, the relevant policy committees of the Legislature, and the Joint Legislative Budget Committee. This report shall do all of the following:

(1) Evaluate the extent to which each Accelerate California: Inclusive Innovation Hub achieved the goals and performance standards identified in their applications and implementing grant agreements.

(2) Evaluate the level of accessibility and availability of services to underserved geographic areas, industry sectors, and underserved business owners.

(3) Evaluate the sustainability of each Accelerate California: Inclusive Innovation Hub.

(4) Identify specific actions that could be taken to improve program outcomes in future years.

(Amended by Stats. 2022, Ch. 68, Sec. 8. (SB 193) Effective June 30, 2022.)