(a) In reviewing any application for designation as a Center for Advanced Technology, the board shall consider whether the applicant has satisfactorily demonstrated:

1. (1) an established record of research, development and instruction in the area or areas of technology involved in the application;
2. (2) its capacity to conduct research and development activities in collaboration with business and industry;
3. (3) its capacity to secure substantial private and other governmental funding for the proposed Center for Advanced Technology in amounts at least equal to the total of any support that may be sought within four years from the foundation or the State of New York for the creation or support of such center;
4. (4) its ability and willingness to cooperate with other institutions in New York State in conducting research and development activities and in disseminating research results, and to work with technical and community colleges in the State to enhance the quality of technical education in the area or areas of technology involved;
5. (5) its ability and willingness to cooperate with the foundation and other economic development agencies in promoting the growth and development in New York State of industries based upon or benefiting from the area or areas of technology involved;
6. (6) its capacity to implement an institutionally approved plan and program for the establishment and operation of a Center for Advanced Technology; and
7. (7) such other matters as the foundation may require.

(b) In reviewing any institutionally approved plan and program for the establishment and operation of a Center for Advanced Technology submitted pursuant to paragraph (a)(6) of this section, the board shall consider, among other things, the following:

1. (1) a certified copy of the resolution of the board of trustees, or comparable governing body, of each university and university-affiliated research institute of which the applicant is composed, approving the plan and program of the applicant;
2. (2) whether the plan and program of the applicant will enhance the productivity and stability of New York businesses;
3. (3) whether the plan and program of the applicant pertains to an area or areas of technology (approved by the foundation) applicable to a wide range of business and industry in New York State; and
4. (4) the sources and amounts of funds necessary to implement the plan and program of the applicant.