Section 32-40b - State funding for advanced technology centers; considerations in approval process by Connecticut Innovations, IncorporatedIn 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.Conn. Gen. Stat. § 32-40b