Okla. Admin. Code § 650:13-1-3

Current through Vol. 42, No. 6, December 2, 2024
Section 650:13-1-3 - Definitions

The following words or terms, when used in this Chapter, shall have the following meaning, unless the context clearly indicates otherwise:

"Application" means a document attesting to the total cost of the project and demonstrating available and unrestricted private capital to meet at least fifty percent (50%) of the total project cost.

"Contractor(s)" means the private enterprise(s) that is awarded an OCAST Partnership Program contract.

"Funding Opportunity Announcement" or "FOA" means a request containing the detailed information concerning the Oklahoma Research and Development Attraction Program application instructions, requirements.

"Oklahoma-based" means a business that has its principal place of business in this state or a business that has, in the preceding twelve (12) months, raised an equity round not less than Five Hundred Thousand Dollars ($500,000.00) with an Oklahoma-based capital provider investing not less than ten percent (10%) of such equity round, that commits to spend all eligible Program funds in the State of Oklahoma, and that has filed a certificate of qualification with the Oklahoma Secretary of State.

"Oklahoma-based research entity" means an institution of higher education or another nonprofit organization that primarily provides research services, and which has its main physical campus in Oklahoma.

"Project Manager" means the person in overall charge of the planning and execution of a particular project.

"Research services" means research and development, technology exploration, technical development, product development, and commercialization intended to foster innovation in eligible small businesses.

"Small Business" means a business entity that employs not more than one hundred (100) persons.

Okla. Admin. Code § 650:13-1-3

Adopted by Oklahoma Register, Volume 40, Issue 24, September 1, 2023, eff. 9/11/2023