R357-11-9. Funding

  (1) TCIP funding is for developing existing research to the point of commercialization, bridging the "funding gap" between research dollars and manufacturing dollars.

  (2) TCIP funding may be used to:

  (a) Purchase equipment;

  (b) Purchase supplies;

  (c) Fund graduate/undergraduate students for time directly applicable to center commercialization activities related to the new technology;

  (d) Fund faculty salaries directly applicable to center commercialization and related to the new technology;

  (e) Fund technology transfer activities (trade shows, brochures, etc.);

  (f) Fund market analysis;

  (g) Pay for consulting fees directly applicable to center commercialization;

  (h) Pay for business manager or marketing manager salaries directly applicable to center commercialization activities; or

  (i) Other purposes approved by GOED in writing.

  (3) Carryover Funds

  (a) The budget described in the contract is designated for the particular fiscal year and is an integral part of the contract. Upon the expiration of the contract, residual funds under the contract can only be accessed by amending the contract as described above.

  (4) Invoicing Requirement

  (a) To receive funds from the program, an invoice should be submitted by the awardee upon completion of the milestones or the mentor program with verification from the TCIP manager.

  (b) Every invoice must include:

  (i) Contract Number;

  (ii) Name of entity and Principal Investigator.;

  (iii) Billing Period; and

  (iv) Current and Cumulative Amounts.