CHAPTER 5.2. EMERGING TECHNOLOGY GRANT FUND
IC 4-4-5.2
Chapter 5.2. Emerging Technology Grant Fund
IC 4-4-5.2-1
"Board"
Sec. 1. As used in this chapter, "board" refers to the board of theIndiana economic development corporation.
As added by P.L.81-2004, SEC.44. Amended by P.L.4-2005, SEC.2.
IC 4-4-5.2-2
"Fund"
Sec. 2. As used in this chapter, "fund" refers to the emergingtechnology grant fund established by section 5 of this chapter.
As added by P.L.81-2004, SEC.44.
IC 4-4-5.2-3
"Small business"
Sec. 3. As used in this chapter, "small business" means a businessthat satisfies all the following:
(1) The business is independently owned and operated.
(2) The principal office of the business is located in Indiana.
(3) The business satisfies either of the following:
(A) The business has not more than:
(i) one hundred (100) employees; and
(ii) average annual gross receipts of ten million dollars($10,000,000).
(B) If the business is a manufacturing business, the businessdoes not have more than one hundred (100) employees.
As added by P.L.81-2004, SEC.44.
IC 4-4-5.2-4
"Small sized technology based business"
Sec. 4. As used in this chapter, "small sized technology basedbusiness" means a small business engaged in any of the following:
(1) Life sciences.
(2) Information technology.
(3) Advanced manufacturing.
(4) Logistics.
As added by P.L.81-2004, SEC.44.
IC 4-4-5.2-5
Emerging technology grant fund established
Sec. 5. (a) The emerging technology grant fund is established toprovide grants to match federal grants for small sized technologybased businesses to be used to accelerate commercialization ofemerging technologies.
(b) The fund consists of appropriations from the general assemblyand gifts and grants to the fund.
(c) The treasurer of state shall invest the money in the fund notcurrently needed to meet the obligations of the fund in the same
manner as other public funds may be invested.
(d) The money in the fund at the end of a state fiscal year does notrevert to the state general fund but remains in the fund to be usedexclusively for purposes of this chapter.
(e) Money in the fund is continuously appropriated for thepurposes of this chapter.
As added by P.L.81-2004, SEC.44.
IC 4-4-5.2-6
Purposes of grant program
Sec. 6. The purpose of the grant program is to do the following:
(1) Assist Indiana businesses to compete nationally for federalresearch and development awards.
(2) Provide matching grants that focus on small sizedtechnology based businesses in industry sectors vital toIndiana's economic growth.
As added by P.L.81-2004, SEC.44.
IC 4-4-5.2-7
Duties of board
Sec. 7. (a) The board shall administer the grant program under thischapter.
(b) The board shall award grants to support projects that leverageprivate sector, federal, and state resources to create new globallycompetitive commercial products or services that will enhanceeconomic growth and job creation in Indiana.
(c) The board may award grants only to businesses that receivefederal grant awards.
(d) In awarding grants, the board shall give preference toproposals from businesses that include other Indiana basedorganizations. However, the amount of the grant may be measuredonly against the federal money allocated to the small sizedtechnology based business partner.
(e) The board shall consider the following when making grantsunder this chapter:
(1) Whether the grant will increase the viability of theapplicant's project.
(2) Whether the grant will attract additional federal research,development, and commercialization money.
(3) Whether the grant will assist in accelerating the introductionof technology based products in the market.
(4) Whether the grant will produce additional technology basedjobs in Indiana.
(5) Other factors the board considers relevant.
(f) An applicant for a grant under this chapter must be in theprocess of applying for, have applied for, or have received a federalgrant for the proposed project. If the applicant has already receiveda federal grant for the proposed project, the start date of the federalaward must be after June 30, 2003.
(g) Any federal program may serve as the basis for a grant under
this chapter if all the following are satisfied:
(1) The applicant's federal proposal is a response to a nationallycompetitive federal solicitation.
(2) The federal program provides money to develop, revise, orcommercialize a new technology.
(3) The federal program accepts matching funds.
(4) The applicant's federal proposal includes the state as apotential funding source.
As added by P.L.81-2004, SEC.44.
IC 4-4-5.2-8
Maximum grant awards
Sec. 8. Before July 1 of each year, the board shall establish andpublish guidelines determining the following:
(1) Priority industries and technological areas for grants underthis chapter.
(2) Matching levels for the different priorities established undersubdivision (1). The matching level may not be more than onedollar ($1) for each federal dollar received by an applicant.
(3) The maximum dollar amount that may be awarded for aproposal. The maximum dollar amount may not exceed onehundred fifty thousand dollars ($150,000) for each business foreach proposal.
As added by P.L.81-2004, SEC.44.