Iowa Admin. Code r. 261-105.7

Current through Register Vol. 47, No. 13, December 25, 2024

Rule 261-105.7 - [Effective 1/15/2025] Application and review process

(1) An eligible business seeking financial or technical assistance must submit an application to the authority in the form and with the content specified by the authority.

(2) The authority will review applications to confirm program eligibility pursuant to Iowa Code section 15.411 and this chapter. Eligible applications will be sent to the committee to develop a recommendation on funding. The committee will make funding recommendations to the board. The board has final decision-making authority on requests for financial assistance. The board may approve, defer or deny an application.

(3) An application for assistance will include but not be limited to the following:

a.Proposed product or service. A description of the proposed product or service, the experience of those involved in the proposed project, and the company resources.

b.Market research. A market research analysis that addresses competing or alternative technologies, advantages of the proposed product or service compared to competing or alternative technologies, distribution plans, and estimated return on investment.

c.Commercialization. A description of the key next steps to making an impact with the innovation and a description of funding requirements, based on standard financial documents, necessary to overcome obstacles to success.

d.Work plan. A description of the strategy and key elements to be funded to address goals of the work plan, including project milestones.

e.Resources and budget. A budget that includes a detailed description of the sources, including the required match, and uses of the funds.

Iowa Admin. Code r. 261-105.7

Adopted by IAB December 11, 2024/Volume XLVII, Number 11, effective 1/15/2025