Sec. 3. (a) This section does not apply to a district board (as defined in IC 5-28-15.5-1(2)) that is an applicant for a grant under section 2(a)(5) of this chapter.

     (b) An application requesting a grant or loan from the fund must be targeted to one (1) or more of the areas listed in section 2 of this chapter.

     (c) A successful applicant for a grant or loan from the fund must meet the requirements of this section and be approved by the board. An application for a grant or loan from the fund must be made on an application form prescribed by the corporation. An applicant shall provide all information that the board finds necessary to make the determinations required by this chapter.

     (d) All applications for a grant or loan from the fund must include the following:

(1) A fully elaborated technical research or business plan, whichever applies, that is appropriate for review by outside experts as provided in this chapter.

(2) A detailed financial analysis that includes the commitment of resources by other entities that will be involved in the project.

(3) A statement of the economic development potential of the project, such as:

(A) a statement of the way in which support from the fund will lead to significantly increased funding from federal or private sources and from private sector research partners; or

(B) a projection of the jobs to be created.

(4) The identity, qualifications, and obligations of the applicant.

(5) Any other information that the board considers appropriate.

An applicant for a grant or loan from the fund may request that certain information that is submitted by the applicant be kept confidential. However, an applicant’s projection of the jobs to be created by a project may not be kept confidential. The corporation shall make a determination of confidentiality as soon as is practicable. If the corporation determines that the information should not be kept confidential, the applicant may withdraw the application, and the corporation must return the information before making it part of any public record.

     (e) An application for a grant or loan from the fund submitted by an academic researcher must be made through the office of the president of the researcher’s academic institution with the express endorsement of the institution’s president. An application for a grant or loan from the fund submitted by a private researcher must be made through the office of the highest ranking officer of the researcher’s institution with the express endorsement of the institution. Any other application must be made through the office of the highest ranking officer of the entity submitting the application. In the case of an application for a grant or loan from the fund that is submitted jointly by one (1) or more researchers or entities, the application must be endorsed by each institution or entity as required by this subsection.

As added by P.L.4-2005, SEC.34. Amended by P.L.137-2012, SEC.11; P.L.145-2016, SEC.16; P.L.238-2017, SEC.6.