Tennessee § 4-14-305 - Functions of corporation.

§ 4-14-305. Functions of corporation.

The corporation, after being certified by the secretary of state, shall: Support entrepreneur centers or small business support groups committed to providing business and technical assistance to current and aspiring entrepreneurs across the state; Promote or direct activities aimed at driving innovation and entrepreneurship in pursuit of economic growth in the state's key business sectors; Identify, develop, and administer funding or services crucial for early-stage business growth and development, including public or private funding or services, grants, loans, or equity; Develop and administer capital programs that will strengthen the state's investing climate; Lead or support efforts to increase the amount of early-stage capital available for investment in small businesses; Foster cooperative and collaborative associations between universities, research organizations, corporations, and individuals that will enhance technology transfer opportunities and lead to the creation of new products, services, and jobs in Tennessee; and Promote entrepreneurship in Tennessee by building awareness of activities, programs, and small business outcomes with media across the state, region, and country. Acts 1997, ch. 517, § 6; 2007, ch. 105, § 3; 2016, ch. 887, § 1; 2018, ch. 662, § 3. Amendments. The 2016 amendment inserted “, including matching grants to Tennessee’s industries and universities to conduct applied research of strategic importance to Tennessee’s economy.” at the end of (8). The 2018 amendment rewrote the section which read: “The corporation, after being certified by the secretary of state, shall: “(1) Assist in evaluating statewide innovation capacity as measured by new technology business starts, research disclosure and patent generation, venture capital availability and investment, public and private research and development expenditures, and research commercialization efforts; “(2) Assist in the development, attraction and retention of diverse high skill and high wage jobs in Tennessee and attract prominent leaders in industry, research and education to Tennessee, ensuring the talent exists within Tennessee to foster innovation; “(3) Support and improve technology transfer and commercialization mechanisms from research organizations, universities and businesses; “(4) Increase the availability of capital to perform applied research, develop technology and stimulate new technology business creation and growth in Tennessee;“(5) Assist in the development of physical infrastructure required for a technology and innovation driven economy;“(6) Stimulate entrepreneurship and create an entrepreneurial culture in Tennessee; “(7) Assist in establishing cooperative and collaborative associations between universities, research organizations, and private enterprises in Tennessee for the purpose of coordinating research and development programs that will aid in the creation of new products, services and jobs in Tennessee; and “(8) Provide financial assistance through contracts, grants and loans to programs of scientific and technological research and development, including matching grants to Tennessee's industries and universities to conduct applied research of strategic importance to Tennessee's economy.” Effective Dates. Acts 2016, ch. 887, § 2. April 27 2016. Acts 2018, ch. 662, § 5. July 1, 2018.