Iowa Admin. Code r. 261-117.9

Current through Register Vol. 47, No. 5, September 4, 2024

Rule 261-117.9 - Application selection criteria

In reviewing applications for financial assistance, the committee and the board shall consider the following criteria:

(1) Intellectual property, and how the ownership of the IP is structured. More points will be awarded for greater IP control by the business, with the greatest number of points being awarded for exclusive IP ownership by the business.

(2) Experience. The business's experience in productization and commercialization, and ongoing product maintenance.

(3) Estimate to completion.

a. What are the work requirements; how quickly will the work be completed?

b. How credible is this estimate relative to the business's experience?

c. Does the business have the resources to fulfill these requirements?

(4) Market research.

a. Is there a competitor?

b. How large is the market outside Iowa?

c. How credible is the marketing plan?

d. Does the business have experience in this industry?

e. Is there an industry in Iowa that would be a natural client/market?

(5) Financial requirement.

a. Have the matching and necessary funds been secured?

b. Is the amount of funds available sufficient to take the product to market?

(6) Distribution. Do the channels already exist to take the product to market?

(7) Expected return. Is the expected return quantified based on time to break even and long-term economic impact?

Iowa Admin. Code r. 261-117.9

ARC 9846B, lAB 11/16/11, effective 10/26/11