Section 261.108.3. Definitions.

As used in this chapter, unless the context otherwise requires:

“Applicant” means an innovative business or other business, a university, a nonprofit organization, or another entity applying to the authority for assistance under the program.

“Applied research” means a systematic inquiry into the practical application of science and technology. Applied research includes translational research, participative research, and other related terms that are similar to or share the goals of applied research.

“Assistance” means technical and financial assistance available under the program.

“Authority” means the economic development authority created in Iowa Code section 15.105.

“Board ” means the members of the economic development authority appointed by the governor and in whom the powers of the authority are vested pursuant to Iowa Code section 15.105.

“Committee” means the technology commercialization committee established by the board pursuant to 261—Chapter 1.

“Corporation” means the Iowa innovation corporation created pursuant to Iowa Code section 15.107.

“Financial assistance” means assistance provided only from the funds, rights, and assets legally available to the authority and includes but is not limited to assistance in the form of grants, loans, forgivable loans, and royalty agreements.

“Innovative business” means the same as defined in Iowa Code section 15E.52(1)“c.”

“MEP” means a manufacturing extension partnership and its associated program component.

“POCR” means the proof of commercial relevance concept and its associated program component.

“Program” means the components of the program established in this chapter pursuant to Iowa Code section 15.411.

[ARC 0611C, IAB 2/20/13, effective 3/27/13]