- (a) The Executive Director of the Arkansas Economic Development Commission may request that an external expert or external experts, bound by a nondisclosure agreement to protect the applicant from unfair competition, review applications to aid the Arkansas Economic Development Commission in evaluation of the potential investment.
- (b) External experts are representatives, selected at the discretion of the executive director, from state or federal government, academia, or the private sector who provide knowledge or experience useful in analysis and review of funding program applications of the Division of Science and Technology of the Arkansas Economic Development Commission.
(c) If so requested, the external expert or experts may evaluate applications based upon, without limitation, the following:
- (1) Management’s qualifications and ability to control growth and operate successfully;
- (2) The technology’s viability and commercial applicability;
- (3) The financial condition of the enterprise;
- (4) The legal aspects of the enterprise;
- (5) The feasibility of the enterprise’s marketing plan;
- (6) The feasibility of the enterprise’s operating plan;
- (7) The overall soundness of the business plan of the enterprise; and
- (8) Other information as requested.