(20 ILCS 700/2001) (from Ch. 127, par. 3702-1)
Sec. 2001.
Technology Challenge Grant Program.
(a) The Department
may, subject to appropriated funds, establish a Technology
Challenge Grant
Program to provide initial grant funding requirements to help secure
federal research and development projects for this State and to identify and
develop technology programs capable of commercialization or establish one or
more programs authorized under this Article as part of its Technology Challenge
Grant Program Initiative to serve as a catalyst and assure a strong base to
develop, transfer, or commercialize new technologies. The Department
shall, pursuant to Section 2003 of this Article, evaluate which grant
applications best serve the economic and technological objectives of the State.
(b) Grants shall be awarded from appropriations made for that purpose to:
(i) universities, colleges, community colleges, nonprofit research foundations
or laboratories, State research institutions, industry technology associations,
(ii) technology partnerships or technology consortiums established by a
formal joint project agreement between: (1) two or more private industries, or
(2) any combination of one or more private industries with one or more
universities, colleges, community colleges, nonprofit research laboratories,
nonprofit research foundations, or State research institutions, or (iii) any
private enterprise developing or commercializing technology or leveraging
federal technology development financing, including, but not limited to, the
small business innovative research program.
(Source: P.A. 91-476, eff. 8-11-99.)
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