§ 3154. Regional partnership program. 1. Establishment and purpose.
There is established a program in the foundation to be known as the
regional partnership program. The program shall provide regional
economic assistance to certified partnerships for the purpose of
carrying out the purposes pursuant to this section and section
thirty-one hundred fifty-three of this title.

2. Duties of regional partnerships. The regional partnerships shall
work individually and in coordination with the technology development
organizations established pursuant to section thirty-one hundred two-d
of this article, and with other partnerships to advance economic growth
and business creation and expansion in the state. The program shall
provide regional economic assistance to certified partnerships for the
purpose of carrying out the purposes pursuant to this section and
section thirty-one hundred fifty-three of this title.

3. Certification. (a) Partnerships shall be comprised of local
economic development organizations and, to the extent they are present
in the region, centers of excellence as defined by section three of part
T of chapter eighty-four of the laws of two thousand two or in the
absence of such center in the region, at least one institution of higher
education involved in commercialization efforts similar to such centers
of excellence. To obtain certification for the purposes of carrying out
the programs of the foundation, regional partnerships shall include
broad representation of the economic development and innovation
community in the region, including but not limited to, community
colleges, university or nonprofit research institutions, private
industry representatives, commercial lending institutions, venture
capital firms and workforce development organizations. Before any
partnership is certified by the foundation, the foundation shall approve
written guidelines for the program and shall provide a copy of the
guidelines to the temporary president of the senate and the speaker of
the assembly.

(b) Within thirty days of the appointment of the majority of the
thirteen voting members of the board, the board shall identify and
review the necessary criteria that shall be demonstrated for a
partnership to successfully fulfill the duties specified in subdivision
six of this section.

(c) Within thirty days following the foundation's identification of
criteria for partnerships, a comprehensive request for proposals for
each of the economic development regions of the state shall be issued by
the foundation that incorporates such criteria and may request any and
all information deemed necessary by the foundation to certify the
partnerships.

(d) The foundation shall have ninety days to conduct a comprehensive
review of all proposed plans and partnerships. After such review, the
foundation shall select and certify regional partnerships and approve
plans by a two-thirds majority vote of the board.

(e) The foundation shall certify one partnership to represent each of
ten economic development regions established by the New York state
department of economic development pursuant to section two hundred
thirty of the economic development law. The foundation shall certify a
regional partnership that meets the criteria and the requirements as set
forth in subdivision four of this section, provided that there is a
regional partnership that represents each region specified in this
section, provided further that the foundation determines that an
application has been received from each region that is sufficient to
accomplish the purposes of this section.

(f) The foundation shall modify or revoke a partnership's
certification consistent with the regulations, policies and guidelines
of the foundation. The foundation may change the number of regions or
regional boundaries with a two-thirds majority vote of the board.

(g) The length of certification for each such partnership, subject to
the foundation's authority to revoke or modify a partner's
certification, shall be for a period of five years, beginning no later
than March thirty-first, two thousand six.

4. Application. A partnership may apply to the foundation to be
certified as a regional partnership. Each partnership shall have sixty
days to prepare and submit an application prepared by the foundation
from the date of the issuance of such request for proposals. All
applications must be on the form required by the foundation and include
and demonstrate all of the following:

(a) the coordinator's name and address;

(b) a statement that the applicant is a partnership and the identity
of its members;

(c) a copy of a written strategic plan adopted by the partnership
describing the targeted industry segments which the partnership shall
foster;

(d) a formal statement of cooperation from each partner confirming the
contributions, financial and other, and responsibilities of each member;

(e) identification of programs and funds which are appropriate to the
implementation of its regional strategy;

(f) identification of the efforts to leverage other sources of public
and private funding in its proposal;

(g) identification of the level of financial expertise of the
partnerships;

(h) an organizational chart;

(i) identification of the resources of the partnership;

(j) a comprehensive plan for its strategy to promote program
implementation within the designated geographic region; and

(k) any other information required by the foundation.

5. Review and designation. The foundation shall review the
applications. Upon being satisfied that all requirements have been met,
the foundation may approve an application. If the foundation approves an
application, the foundation shall accept the organization designated as
the coordinator for the regional partnership programs.

6. Continuation of certification. To continue to be certified, a
partnership shall perform the following duties which shall include, but
not be limited to:

(a) Serve as a regional partner in identifying, developing, adapting
and implementing advanced technologies and innovative strategies to
enable the growth and competitiveness of existing and emerging companies
through process improvement, technology development, commercialization
and production.

(b) Promote collaborations, programs and initiatives by and among the
foundation, technology enterprises, economic development organizations,
the corporate community, academic research institutions, government,
workforce development organizations and other interests working
collectively to advance economic growth, including activities to ensure
the availability of venture capital within the region including contract
services in conjunction with the foundation pursuant to section
thirty-one hundred fifty-two of this title. Each partnership should
stress the use of information technology as a necessary means to link
such entities together in a cohesive and effective manner.

(c) Provide and serve as a conduit to, capital for existing and
emerging companies involved in the development, commercialization, and
production of innovative products and processes.

(d) Develop and provide support to business incubation facilities and
encourage the development of technology business in or near research
academic institutions.

(e) Each partnership shall encourage business mentoring opportunities,
to emerging companies in order to provide resources and industry
knowledge to create opportunities for growth.

7. Certification review. Not less than one hundred eighty days prior
to the expiration of a partnership's certification the foundation board
shall conduct a comprehensive review of the partnership's performance
over the entire period of time for which the partnership was certified
as such by the foundation. The review shall primarily be based on those
annual reviews conducted by the foundation as authorized by this
subdivision. Should the foundation deem the partnership's performance to
be satisfactory it shall, by two-thirds vote of the thirteen voting
members of the state board, re-certify the regional partnership as a
regional partnership for a period of five years, provided such period
begin on the day that the previous certification has expired. Provided,
however, should the foundation board rule that a partnership's
performance has not been satisfactory, or if two-thirds of the voting
members of the foundation board do not support such partnership's
re-certification, the foundation board shall issue a new request for
proposals for a new regional partnership provided that such request for
proposals shall be issued no later than thirty days after the foundation
board declined to re-certify the partnership. Those partnerships that
choose to submit an application for certification as a new regional
partnership in response to the request for proposals issued by the
foundation board shall have sixty days to prepare and submit an
application from the date of the issuance of such request for proposals.
The foundation board shall have forty-five days to conduct a
comprehensive review of all applications for certification as a regional
partnership. After a review of the applications, the foundation board
shall select and certify a new partnership for all those regions for
which a new request for proposals were issued.

8. Regional coordinator. Each partnership shall designate from its
members a single, non-profit organization to coordinate program
development and implementation, and to act as administrative entity for
the partnership programs. Such non-profit organization, or its staff,
shall have demonstrated experience with state and federal contracting
procedures.

9. Records. Upon request, a partnership must authorize employees or
agents of the foundation to inspect its books and records during regular
business hours.

10. Foundation fund. (a) Establish fund and programs. There is hereby
created a fund within the foundation to be known as the foundation fund
for the purposes of: (i) providing financial assistance in the form of
grants, loans, equity investments or a combination thereof to companies
for purposes which may include, but not be limited to, commercialization
of innovative products and processes for emerging technology sectors,
including biotechnology, nanotechnology, bioinformatics, software
design, innovative energy efficiencies and environmental technologies
and other technologies; (ii) providing financial assistance in the form
of grants, loans or a combination thereof to small emerging companies
for the purposes of: (A) offsetting the small emerging companies' costs
associated with accessing advanced telecommunications services and
technologies, provided, however, that such small emerging companies or
their affiliates shall not be in the business of offering
telecommunications services and technologies; (B) offsetting the small
emerging companies' costs associated with implementing energy efficiency
or pollution prevention projects; (iii) providing grants to facilities
that are equipped with high-technology resources appropriate to
different technology sectors, including biotechnology, nanotechnology,
bioinformatics, software design, innovative energy and environmental
technologies and other advanced technologies, for lab-based
commercialization enhancement and pre-venture product and business
development and working capital support, such as to various sectors
particularly those that partner with university based research
institutions; and (iv) providing financial assistance in the form of
grants, loans or a combination thereof to businesses and facility
projects that incorporate innovative products and processes into
traditional economic activities, including but not limited to
agriculture, manufacturing, services and tourism. A certified
partnership shall be eligible to apply for assistance under any of the
programs established in this section.

(b) Programs. (i) The technology enhancement program will provide
grants for lab-based commercialization enhancement and pre-venture
product and business development.

(ii) The innovation investment program shall provide financing to
facilities for early-stage companies or companies that demonstrate a
high potential for growth and innovation, as defined and specified by
the foundation. Innovation investment fund awards may take the form of
grants, equity investments, or loans or a combination thereof, provided
that the fund serves to promote the growth of small technology-intensive
or otherwise innovative businesses in the state of New York. Innovation
investment fund grants, equity investments or loans shall be in amounts
equal to or greater than twenty-five thousand dollars but shall not
exceed two hundred fifty thousand dollars.

(iii) The emerging investment program shall take the form of grants,
equity investments, or loans or a combination thereof, to businesses in
the stage of product development, as defined and specified by the
foundation. Emerging investment fund investments or loans shall be
greater than two hundred fifty thousand dollars but shall not exceed
seven hundred fifty thousand dollars. Businesses eligible to receive
investments from the emerging investment fund shall meet such targets
pursuant to foundation guidelines that demonstrate sufficient potential
to bring a technology-intensive or otherwise innovative product or
process to market and become a profitable employer located in the state
of New York.

(iv) The business acceleration program shall provide financing in the
form of grants, equity investments, or loans or a combination thereof,
to revenue-generating technology-intensive or otherwise innovative
businesses, as defined and specified by the foundation, in order to
accelerate their expansion towards profitability. Business acceleration
fund grants, equity investments or loans shall be greater than seven
hundred fifty thousand dollars but shall not exceed one million dollars.
Eligible businesses shall demonstrate, pursuant to foundation
guidelines, their ability to become profitable and expand their
employment in the state of New York.

(v) The New York Phase I federal small business innovation research
program may award grants to recipients conducting research that may
result in the development of an innovative technology having the
potential to lead to the commercialization or fabrication within New
York of new or improved products, processes, or services for the
continuation of such research under the contract awarded by the federal
agency not to exceed the amount of the federal award or fifty thousand
dollars, whichever is less.

(c) The community colleges/academic research institutions curriculum
alignment program which shall provide assistance for alignment of SUNY
and CUNY community colleges with high-technology industry clusters and
academic research institutions through the development of specialized
curricula which meets the needs of emerging businesses for technical and
other skilled workers.

(d) The New York Science, Technology, Engineering and Math (STEM)
program may foster student interest in scientific and technical careers
and may include support for summer science and math camps, internships
and mentoring opportunities, and support opportunities for professional
development for teachers in the areas of science, mathematics, and
engineering.

(e) The management and technical assistance program may provide
support for regional activities which include industry associations,
angel investor networks, entrepreneurial networks, regional business
plan competitions and other related activities.

(f) The manufacturing assistance program may provide support for
flexible manufacturing networks, niche market development, productivity
and energy efficiency assessments and skills training.

(g) The regional marketing and export assistance program may provide
support for regional activities including marketing cooperatives and
branding initiatives.

11. Reporting requirements. Each partnership shall annually submit the
following information to the foundation and to the temporary president
of the senate and the speaker of the assembly:

(a) the designated coordinator's current contact information;

(b) a copy of the regional partnerships' current statement of
cooperation that defines roles, responsibilities, contributions,
financial and otherwise, of the partnerships;

(c) a list of the partnership's current officers and directors;

(d) an independent audit covering all funds received from the state;

(e) upon request, an independent audit covering all funds received and
activities supported by non-state sources; and

(f) all other information that the foundation may require.

12. Urban development corporation proposals. (a) Upon certification
pursuant to subdivision three of this section, each regional partnership
may submit to the urban development corporation a proposal on how the
regional partnership shall provide economic development assistance,
pursuant to sections sixteen-h and sixteen-m of section one of the New
York state urban development corporation act.