As used in this part:

1. (1) “Business and technology accelerator” means a full-time, immersive program administered by an eligible applicant to potentially invest in, mentor, and accelerate commercial development of startup businesses;
2. (2) “Business and technology accelerator grant” means a discretionary grant of up to two hundred fifty thousand dollars ($250,000) for each approved business and technology accelerator application; and

3. (3) “Eligible applicant” means an entity that is:

   1. (A) Registered as a business entity in good standing with the Secretary of State; and

   2. (B) Principally engaged in one (1) or more of the following categories of business or industry:

      1. (i) A manufacturer classified in sectors 31 – 33 of the 2012 North American Industry Classification System;

      2. (ii) A business that:

         1. (a) (a) Is primarily engaged in:
4. (1) (1) The design and development of prepackaged software;
5. (2) (2) Digital content production and preservation;
6. (3) (3) Computer processing and data preparation services; or

7. (4) (4) Information retrieval services; and

   1. (b) (b) Derives at least seventy-five percent (75%) of its sales revenue from out of state;

      1. (iii) An office sector business whose business operations support primary business needs, including without limitation customer service, credit accounting, telemarketing, claims processing, and other administrative functions that:

         1. (a) (a) Is a nonretail business; and
         2. (b) (b) Derives at least seventy-five percent (75%) of its sales revenue from out of state;
      2. (iv) A national or regional corporate headquarters as classified in sector 551114 of the 2012 North American Industry Classification System;
      3. (v) A scientific and technical services business that derives at least seventy-five percent (75%) of its sales revenue from out of state;
      4. (vi) A firm primarily engaged in commercial, physical, and biological research as classified in code 541711 or 541712 of the 2012 North American Industry Classification System;

      5. (vii) A firm engaged in one (1) or more of the following categories:

         1. (a) (a) Advanced materials and manufacturing systems;
         2. (b) (b) Agriculture, food processing, and environmental sciences;
      6. (c) (c) Biotechnology, bioengineering, and life sciences;

      7. (d) (d) Information technology;

         1. (e) (e) Transportation logistics; and
         2. (f) (f) Internet-enabled technology or service solution of one (1) or more of the categories described in subdivisions (3)(B)(vii)(a) – (e) of this section; and
      8. (viii) A business that is primarily engaged in operating combustors and incinerators for the disposal of nonhazardous solid waste, as classified in code 562213 of the 2022 North American Industry Classification System.