State Codes and Statutes

Statutes > Connecticut > Title32 > Chap581 > Sec32-40b

      Sec. 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 section 32-34, for state funding, Connecticut Innovations, Incorporated, shall assess scientific, economic, management and financial factors, including, but not limited to the following:

      (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.

      (P.A. 91-388, S. 3, 7.)