Entrepreneur investment awards program.

; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; courier new tur ; arial (vietnamese) ; courier new (arabic) ; times new roman ce ; tahoma (vietnamese) ; arial (hebrew) ; times new roman cyr ; courier new greek ; symbol ; tahoma (hebrew) ; arial ; arial baltic ; arial tur ; times new roman (arabic) ; courier new ; imperial bt ; tahoma ce ; wingdings ; tahoma cyr ; times new roman tur ; courier new ce ; tahoma ; courier new (hebrew) ; arial (arabic) ; courier new baltic ; courier new cyr ; times new roman ; tahoma baltic ; tahoma (arabic) ; arial ce ; courier new (vietnamese) ; tahoma (thai) ; times new roman greek ; tahoma greek ; tahoma tur ; times new roman (hebrew) ; times new roman baltic ; times new roman (vietnamese) ; arial greek ; arial cyr ; \* .;
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 ?; ; ; Normal ; heading 1 ; heading 2 ; heading 3 ; heading 4 ; heading 5 ; heading 6 ; heading 7 ; heading 8 ; heading 9 ; Balloon Text ; Block Text ; Body Text ; Body Text 2 ; Body Text 3 ; Body Text First Indent ; Body Text First Indent 2 ; Body Text Indent 2 ; Body Text Indent 3 ; caption ; Closing ; annotation text ; annotation subject ; Date ; Document Map ; E-mail Signature ; endnote text ; envelope address ; envelope return ; footer ; footnote text ; header ; HTML Address ; HTML Preformatted ; index 1 ; index 2 ; index 3 ; index 4 ; index 5 ; index 6 ; index 7 ; index 8 ; index 9 ; index heading ; List ; List 2 ; List 3 ; List 4 ; List 5 ; List Bullet ; List Bullet 2 ; List Bullet 3 ; List Bullet 4 ; List Bullet 5 ; List Continue ; List Continue 2 ; List Continue 3 ; List Continue 4 ; List Continue 5 ; List Number ; List Number 2 ; List Number 3 ; List Number 4 ; List Number 5 ; macro ; Message Header ; Normal (Web) ; Normal Indent ; Note Heading ; Plain Text ; Salutation ; Signature ; Subtitle ; table of authorities ; table of figures ; Title ; toa heading ; toc 1 ; toc 2 ; toc 3 ; toc 4 ; toc 5 ; toc 6 ; toc 7 ; toc 8 ; toc 9 ; \~\~ \~\~ \~\~ \~\~ \~\~ 15E.362 \~\~ Entrepreneur investment awards program. \~\~ 1. \~\~ For purposes of this subchapter , unless the context otherwise requires: \~\~ a. \~\~ “Business development services” includes but is not limited to corporate development services, business model development services, business planning services, marketing services, financial strategies and management services, mentoring and management coaching, and networking services. \~\~ b. \~\~ “Eligible entrepreneurial assistance provider” means a person meeting the requirements of subsection 3 . \~\~ c. \~\~ “Financial assistance” means assistance provided only from the funds, rights, and assets legally available to the authority pursuant to chapter 15 and includes but is not limited to assistance in the form of grants, loans, forgivable loans, and royalty payments. \~\~ d. \~\~ “Program” means the entrepreneur investment awards program administered pursuant to this subchapter . \~\~ 2. \~\~ The authority shall establish and administer an entrepreneur investment awards program for purposes of providing financial assistance to eligible entrepreneurial assistance providers that provide technical and financial assistance to entrepreneurs and start-up companies seeking to create, locate, or expand a business in the state. Financial assistance under the program shall be provided from the entrepreneur investment awards program fund created in section 15E.363 . \~\~ 3. \~\~ In order to be eligible for financial assistance under the program an entrepreneurial assistance provider must meet all of the following requirements: \~\~ a. \~\~ The provider must have its principal place of operations located in this state. \~\~ b. \~\~ The provider must offer a comprehensive set of business development services to emerging and early-stage innovation companies to assist in the creation, location, growth, and long-term success of the company in this state. \~\~ c. \~\~ The business development services may be performed at the physical location of the provider or the company. \~\~ d. \~\~ The business development services may be provided in consideration of equity participation in the company, a fee for services, a membership agreement with the company, or any combination thereof. \~\~ 4. \~\~ Entrepreneurial assistance providers may apply for financial assistance under the program in the manner and form prescribed by the authority. \~\~ 5. \~\~ The economic development authority board in its discretion may approve, deny, or defer each application for financial assistance under the program from persons it determines to be an eligible entrepreneurial assistance provider. \~\~ 6. \~\~ Subject to subsection 7 , the amount of financial assistance awarded to an eligible entrepreneurial assistance provider shall be within the discretion of the authority. \~\~ 7. \~\~ a. \~\~ The maximum amount of financial assistance awarded to an eligible entrepreneurial assistance provider shall not exceed two hundred thousand dollars. \~\~ b. \~\~ The maximum amount of financial assistance provided under the program shall not exceed one million dollars in a fiscal year. \~\~ 8. \~\~ The authority shall award financial assistance on a competitive basis. In making awards of financial assistance, the authority may develop scoring criteria and establish minimum requirements for the receipt of financial assistance under the program. In making awards of financial assistance, the authority may consider all of the following: \~\~ a. \~\~ The business experience of the professional staff employed or retained by the eligible entrepreneurial assistance provider. \~\~ b. \~\~ The business plan review capacity of the professional staff of the eligible entrepreneurial assistance provider. \~\~ c. \~\~ The expertise in all aspects of business disciplines of the professional staff of the eligible entrepreneurial assistance provider. \~\~ d. \~\~ The access of the eligible entrepreneurial assistance provider to external service providers, including legal, accounting, marketing, and financial services. \~\~ e. \~\~ The service model and likelihood of success of the eligible entrepreneurial assistance provider and its similarity to other successful entrepreneurial assistance providers in the country. \~\~ f. \~\~ The financial need of the eligible entrepreneurial assistance provider. \~\~ 9. \~\~ Financial assistance awarded to an eligible entrepreneurial assistance provider shall only be used for the purpose of operating costs incurred by the eligible entrepreneurial assistance provider in providing business development services to emerging and early-stage innovation companies in this state. Such financial assistance shall not be distributed to owners or investors of the company to which business development services are provided and shall not be distributed to other persons assisting with the provision of business development services to the company. \~\~ 10. \~\~ The authority may contract with outside service providers for assistance with the program or may delegate the administration of the program to the bioscience development corporation pursuant to section 15.106B . \~\~ 11. \~\~ The authority may make client referrals to eligible entrepreneurial assistance providers. 2012 Acts, ch 1126, §21 ; 2015 Acts, ch 138, §83, 161, 162 ; 2017 Acts, ch 54, §76 ; 2020 Acts, ch 1062, §6 ; 2025 Acts, ch 136, §40, 59 Referred to in §15.106B , 15E.26 2025 amendment to subsection 1, paragraph c effective December 31, 2025; 2025 Acts, ch 136, §59 Subsection 1, paragraph c amended