1. (a) Only qualifying universities may submit proposals for grant funding from the Initiative.
2. (b) The participating members of the Initiative may establish a committee composed of experts in the areas of research considered for commercialization.
3. (c) The Initiative may establish the committee under service contracts with independent reviewers.

4. (d) The committee shall:

   1. (1) review, evaluate, and rate proposals for funding from the Initiative, based on:

      1. (i) the viability of commercializing the technology; and
      2. (ii) the relative costs associated with commercializing the technology; and
   2. (2) make recommendations to the participating members of the Initiative for the award and disbursement of grants from the Initiative.
5. (e) A member of the committee is not eligible to receive funding from the Initiative.

Added by Acts 2012, c. 450, § 1, eff. July 1, 2012. Amended by Acts 2020, c. 580, § 1, eff. Oct. 1, 2020.