§ 32-39t — Higher Education Entrepreneurship Advisory Committee. Membership. Applications. Recommendation of approval.

Connecticut § 32-39t

• Jurisdiction: Connecticut
• Title 32: Commerce and Economic and Community Development
• Ch. 581: Innovation Capital Act of 1989. Connecticut Innovations, Incorporated

Text

(a) The commissioner may establish a Higher Education Entrepreneurship Advisory Committee within the department. If established, such committee shall consist of members appointed by the commissioner, including, but not limited to: (1) An equal number of representatives of public and private institutions of higher education; (2) one baccalaureate student representative; (3) one graduate student representative; (4) one high school student who shall be a nonvoting member; and (5) three serial entrepreneurs having experience as an entrepreneur in residence at an institution of higher education. Such members shall be subject to term limits prescribed by the commissioner. Each member appointed by the commissioner shall hold office until a successor is appointed. For the purposes of this section, “serial entrepreneur” means an entrepreneur having brought one or more start-up businesses to venture capital funding by an institutional investor. (b) The advisory group shall select chairpersons of the advisory group during its initial meeting. The advisory committee shall meet not less than quarterly after its initial meeting and at such other times as the chairperson deems necessary. (c) No member of the advisory committee shall receive compensation for such member's service, except that each member shall be entitled to reimbursement for actual and necessary expenses incurred during the performance of such member's official duties. (d) A majority of members of the advisory committee shall constitute a quorum for the transaction of any business or the exercise of any power of the advisory committee. The advisory committee may act by a majority of the members present at any meeting at which a quorum is in attendance, for the transaction of any business or the exercise of any power of the advisory committee, except as otherwise provided in this section. (e) Every member of the advisory committee shall be deemed a member of an advisory board for purposes of chapter 10. (f) Any institution of higher education, or partnership of one or more institutions of higher education, may submit an application for a higher education entrepreneurship grant-in-aid to the advisory committee, on a form prescribed by the advisory committee. (g) The advisory committee may review applications for grants-in-aid submitted to it pursuant to this section. The advisory committee may recommend approval of any such application to the commissioner. For any such application reviewed by the advisory committee, the advisory committee shall give priority for grants-in-aid to applications (1) including collaborative initiatives between institutions of higher education, and (2) supporting individual institutions of higher education to develop alumni mentor networks, entrepreneurs-in-residence programs, university proof of concept funds and student business start-up accelerators, when such individual institutions demonstrate that such networks, programs, funds and accelerators are not feasible for operation across multiple institutions of higher education.

Legislative History

(May Sp. Sess. P.A. 16-3, S. 28; June Sp. Sess. P.A. 17-2, S. 134; P.A. 19-154, S. 4; P.A. 24-149, S. 12.) History: June Sp. Sess. P.A. 17-2 substantially amended Subsec. (e) including by deleting provisions re conflict of interest, adherence to code of ethics and statement of financial interest and adding provisions re member deemed member of advisory board for purposes of Ch. 10, effective October 31, 2017; P.A. 19-154 amended Subsec. (g) by designating existing provision re collaborative initiatives between institutions of higher education as Subdiv. (1) and adding Subdiv. (2) re supporting individual institutions of higher education to develop certain programs, effective July 1, 2019; P.A. 24-149 amended Subsec. (a) to replace “There shall be” with “The commissioner may establish”, replace “CTNext” with “the department”, change “Such” to “If established, such”, replace references to “CTNext board of directors” and “CTNext board” with references to “commissioner”, delete provision re initial appointments shall be made not later than June 1, 2017, and add “appointed by the commissioner”, amended Subsec. (b) to delete provision re executive director of CTNext shall call first meeting not later than June 15, 2017, change “during such meeting” to “during its initial meeting” and replace “thereafter” with “after its initial meeting” and amended Subsec. (g) to change “shall review” to “may review”, replace “CTNext board of directors” with “commissioner”, delete provision re determination that application is consistent with and in furtherance of master plan for entrepreneurship at institutions of higher education and change “The” to “For any such application reviewed by the advisory committee, the”, effective July 1, 2024.