Section 545.110  Purpose

The purposes of the Technology Challenge Grant Program are specified at Section 2001 of the Act [20 ILCS 700/2001].  First, the Department is authorized to make grants that provide initial funding for projects that, in turn, help secure federal research and development projects for the State.  Second, the Department is authorized to provide initial grant funding for projects that identify and develop technologies capable of commercialization.  Third, the Department is authorized to fund programs and activities that provide a catalyst for and strengthen the State's capacity to commercialize new technologies.