90-3-506. Specific criteria for research and development project loans. The board may make a research and development project loan upon its determination that the proposed project complies with the criteria and goals set forth in 90-3-502 and 90-3-505 and if the board determines that:
     (1) the project has the potential to diversify or add value to a basic industry of the state's economy;
     (2) the project demonstrates a clear path to commercial development of the research results within the state;
     (3) the project involves university system research participation whenever practical;
     (4) the project employs or otherwise takes advantage of existing research and development strengths within the state's university and private research establishments;
     (5) the project involves a realistic and achievable research project design;
     (6) the project develops or employs an innovative technology;
     (7) the project activity is located within the state; and
     (8) the project's research team possesses sufficient expertise in the appropriate technology area to complete the research objectives of the project.

     History: En. Sec. 9, Ch. 316, L. 1989.