90-3-502. General criteria underlying science and technology development project loan program. The board may make a science and technology development project loan only upon a favorable determination that the proposed project:
(1) is consistent with the findings and purposes of this chapter because it incorporates innovative technology;
(2) has prospects for collaboration between the public and private sectors of the state's economy;
(3) has prospects for achieving commercial success and for creating new jobs in the state;
(4) has potential for commercial success related to the specific product or business development methodology proposed;
(5) can provide matching funds to the project as required under 90-3-301; and
(6) has a management structure that allows ongoing postdisbursement involvement by the board.
History: En. Sec. 5, Ch. 316, L. 1989.