90-9-312. Seed capital projects -- program goals. (1) The council may make a seed capital project loan to a seed capital project if it determines that the project meets the loan criteria established in 90-9-311 and 90-9-313 and further determines that the project meets the goals established in subsection (2) and involves development and commercialization of innovative agricultural products or processes.
     (2) The goals of this program are:
     (a) to assist in the development of innovative technology in the state by providing a source of capital to the agricultural-based sector of the state's economy;
     (b) to provide financing and follow-along management support for agricultural businesses in the state that are attempting to develop agricultural products or processes based on innovative technologies; and
     (c) to provide a liaison between agricultural businesses in the state and investors in an effort to enhance the pool of capital available to agricultural businesses in the state.

     History: En. Sec. 2, Ch. 284, L. 1989.