4. Application. A partnership may apply to the foundation to be certified as a regional partnership. Each partnership shall have sixty days to prepare and submit an application prepared by the foundation from the date of the issuance of such request for proposals. All applications must be on the form required by the foundation and include and demonstrate all of the following:

1. (a) the coordinator's name and address;
2. (b) a statement that the applicant is a partnership and the identity of its members;
3. (c) a copy of a written strategic plan adopted by the partnership describing the targeted industry segments which the partnership shall foster;
4. (d) a formal statement of cooperation from each partner confirming the contributions, financial and other, and responsibilities of each member;
5. (e) identification of programs and funds which are appropriate to the implementation of its regional strategy;
6. (f) identification of the efforts to leverage other sources of public and private funding in its proposal;
7. (g) identification of the level of financial expertise of the partnerships;
8. (h) an organizational chart;
9. (i) identification of the resources of the partnership;
10. (j) a comprehensive plan for its strategy to promote program implementation within the designated geographic region; and
11. (k) any other information required by the foundation.

6. Continuation of certification. To continue to be certified, a partnership shall perform the following duties which shall include, but not be limited to:

1. (a) Serve as a regional partner in identifying, developing, adapting and implementing advanced technologies and innovative strategies to enable the growth and competitiveness of existing and emerging companies through process improvement, technology development, commercialization and production.
2. (b) Promote collaborations, programs and initiatives by and among the foundation, technology enterprises, economic development organizations, the corporate community, academic research institutions, government, workforce development organizations and other interests working collectively to advance economic growth, including activities to ensure the availability of venture capital within the region including contract services in conjunction with the foundation pursuant to section thirty-one hundred fifty-two of this title. Each partnership should stress the use of information technology as a necessary means to link such entities together in a cohesive and effective manner.
3. (c) Provide and serve as a conduit to, capital for existing and emerging companies involved in the development, commercialization, and production of innovative products and processes.
4. (d) Develop and provide support to business incubation facilities and encourage the development of technology business in or near research academic institutions.
5. (e) Each partnership shall encourage business mentoring opportunities, to emerging companies in order to provide resources and industry knowledge to create opportunities for growth.

11. Reporting requirements. Each partnership shall annually submit the following information to the foundation and to the temporary president of the senate and the speaker of the assembly:

1. (a) the designated coordinator's current contact information;
2. (b) a copy of the regional partnerships' current statement of cooperation that defines roles, responsibilities, contributions, financial and otherwise, of the partnerships;
3. (c) a list of the partnership's current officers and directors;
4. (d) an independent audit covering all funds received from the state;
5. (e) upon request, an independent audit covering all funds received and activities supported by non-state sources; and
6. (f) all other information that the foundation may require.