Connecticut General Statutes 32-40b – State funding for advanced technology centers; considerations in approval process by Connecticut Innovations, Incorporated
In approving the application of an advanced technology center, as defined in § 32-34, for state funding, Connecticut Innovations, Incorporated, shall assess scientific, economic, management and financial factors, including, but not limited to the following:
Terms Used In Connecticut General Statutes 32-40b
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Research: means the scientific and engineering analysis, investigation, collection of ideas and inquiry into concepts, processes and techniques, the purpose of which is intended to result in a commercially feasible product, process or technique. See Connecticut General Statutes 32-34
- Technology: means the conversion of basic scientific research into processes, techniques and products which may have commercial potential. See Connecticut General Statutes 32-34
(1) The likelihood that the research proposal will result in fundamental technological advances transferable to commercial application and the means that the center proposes to make these transfers;
(2) The potential of the research proposal to stimulate technological advances in existing businesses, new business creation and long-term job growth in Connecticut;
(3) Evidence of significant financial commitment by academic and industrial participants and the likelihood that the center will become self-sufficient by the end of the state’s financial commitment period;
(4) Evidence that the state will receive a financial return commensurate with its investment in the center;
(5) The level of representation by all financial participants in the center’s proposed management structure;
(6) The planned involvement of small businesses and academic institutions in the center’s activities;
(7) The center’s plan to involve minority students and minority-owned businesses in its activities; and
(8) The adequacy of the center’s proposed mechanisms for evaluating its progress.