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164.6029 Kentucky Rural Innovation Program -- Purposes.

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164.6029 Kentucky Rural Innovation Program -- Purposes. (1) There is created and established in the Council on Postsecondary Education a Kentucky Rural Innovation Program to provide awards to rural Kentucky-based, <br>small companies to undertake research, development, and entrepreneurial <br>innovation work in partnership with Kentucky postsecondary institutions, the Small <br>Business Development Center Network in Kentucky, and other entities engaged in <br>research and development work. (2) The purpose of the Kentucky Rural Innovation Program is to: (a) Accelerate knowledge transfer and technological innovation that improve economic competitiveness and spur economic growth in rural, Kentucky-<br>based, small companies; (b) Support entrepreneurial activities that have clear potential to lead to commercially successful products, processes, or services within a reasonable <br>period of time; (c) Stimulate growth-oriented enterprises within the Commonwealth; <br>(d) Encourage partnerships and collaborative projects between private enterprises, Kentucky's postsecondary institutions, research organizations, and the Small <br>Business Development Center Network in Kentucky; and (e) Promote research, development, and entrepreneurial activities that are driven by private sector requirements. Effective: July 15, 2002 <br>History: Amended 2002 Ky. Acts ch. 230, sec. 33, effective July 15, 2002. -- Created 2000 Ky. Acts ch. 522, sec. 10, effective July 14, 2000.