People seeking help to turn research into a workable business need organizations capable of delivering that help. EDA's Regional Innovation Program rule, published January 11, 2017, describes existing Regional Innovation Strategies grants for proof-of-concept and commercialization support. It also describes operational support for organizations providing early-stage funding. The announcement sets out a framework, rather than awarding a fresh grant to every promising project. [2017-00116]
The resource question appears clearly in the September 21, 2016 proposal. EDA explained that its contribution could cover no more than 50 percent of total project cost, with no minimum rate. It also proposed cash or in-kind matching contributions. Applicants would have to demonstrate at application that the match was committed and would be available when needed, rather than merely hoped for. [2016-22286]
The final matching provision retains that practical test. In-kind contributions need values that can be readily determined, verified and justified. Contributions cannot carry conditions that prevent their use consistently with the assistance, and EDA decides whether documentation is adequate. For people depending on the proposed services, this connects the financing promise to an identifiable capacity to supply resources over the project's life. [2017-00116]
The rule specifies February 10 effectiveness. Proposal and final are stages of one EDA process, not independent proof of jobs created or services delivered. The public-interest question is therefore concrete: are the resources behind commercialization assistance committed, usable and documented? The maximum federal share is a ceiling, not a guaranteed award or evidence that a region's support needs have been met. [2017-00116][2016-22286]
Source documents
- Regional Innovation Programhttps://www.govinfo.gov/content/pkg/FR-2017-01-11/html/2017-00116.htm
- Regional Innovation Programhttps://www.govinfo.gov/content/pkg/FR-2016-09-21/html/2016-22286.htm