CHAPTER 108
TARGETED INDUSTRIES STUDENT COMPETITION FUND
261—108.1(82GA,HF829) Authority. The authority for establishing rules governing the targeted industries student competition fund under this chapter is provided in 2007 Iowa Acts, House File 829, section 7(6).
261—108.2(82GA,HF829) Purpose. The purpose of the targeted industries student competition fund is to provide financial assistance to support sponsorships of student competitions in the targeted industries in order to increase the students’ knowledge of the targeted industries and job opportunities in the targeted industries and to engage students, educators and parents in exploring careers in those industries. The goals of the sponsorships are to showcase educational and career opportunities in the targeted industries area to students; to increase the number of students enrolled in targeted industries technical programs and majors; and to connect students with business mentors for future career planning, internship and employment opportunities. The long-term goal of the fund is to encourage existing student competitions in the targeted industries to collaborate and implement a single, high-profile statewide student competition that features several student events and that highlights student achievements and career applicability.
261—108.3(82GA,HF829) Definitions.
“Board” means the Iowa economic development board established in Iowa Code section 15.103.
“Committee” means the technology commercialization committee created by the board pursuant to Iowa Code section 15.116.
“Department” means the Iowa department of economic development.
“Fund” means the targeted industries student competition fund.
“Student competition” means a business, industry group or academic institution sponsored event with statewide reach that facilitates linkages between students and career and educational opportunities within the targeted industries through academic competitions or showcase events.
“Targeted industry” means the industries of advanced manufacturing, biosciences, and information technology.
261—108.4(82GA,HF829) Program funding.
	108.4(1) Funds may be used for competition marketing and collateral materials, facility rentals or other project expenses deemed reasonable and appropriate by the department, such as technical and logistical support.
	108.4(2) The forms of financial assistance may consist of, but are not limited to, loans, forgivable loans, grants and such other forms of assistance the board deems appropriate and consistent with the needs of a given project.
261—108.5(82GA,HF829) Eligible applicants. Eligible applicants must be industry groups, businesses or academic sponsors of a student competition designed for the showcasing of career and educational opportunities to students within the targeted industries.
261—108.6(82GA,HF829) Application and review process.
	108.6(1) For student competitions on or after September 1, 2007, an industry group, business or academic sponsor of a student competition must submit an application for financial assistance, in the form specified by the department, to the Iowa Department of Economic Development, Innovation and Commercialization Division, 200 East Grand Avenue, Des Moines, Iowa 50309. Required forms and instructions are available at this address or at the department’s Web site at www.iowalifechanging.com.
	108.6(2) To apply for financial assistance from the fund, an industry group, business or academic sponsor of a student competition event shall submit an application to the department, in the form specified by the department. The application will be reviewed by department staff, the committee and the board. The committee will make a recommendation to the board regarding an application. The board has final decision-making authority on requests for financial assistance from the fund. The board may approve, defer or deny an application.
	108.6(3) An application for financial assistance shall include all information required by the department including, but not limited to, the following:
	a. 	Event plan. A description of the student competition, its statewide reach and key strategies to be funded to address the goals of the event, and plans for sustainability and growth of the event.
	b. 	Resources and budget. A budget that includes a detailed description of the sources and uses of the funds and a projection for future event growth.
	c. 	Project outcomes. A statement of the anticipated project outcomes including statewide reach and potential student-to-career and student-to-industry connections within the targeted industries.
261—108.7(82GA,HF829) Application selection criteria. When applications for financial assistance are reviewed, the following criteria shall be considered:
	108.7(1) Event plan. Whether the student competition topic area is hands-on and innovative and showcases career and educational opportunities within the targeted industries.
	108.7(2) Event sustainability. Whether the application includes a plan for event sustainability and future growth.
	108.7(3) Financial requirement. Whether the application includes matching funds and in-kind match and whether the amount available is sufficient to complete the project.
	108.7(4) Collaboration. Whether the student competition demonstrates collaboration among academic institutions, business partners, state agencies and industry groups.
	108.7(5) Project outcomes. Whether the student competition outcomes include potential student-to-career and student-to-industry connections within the targeted industries.
261—108.8(82GA,HF829) Contract and reporting.
	108.8(1) Notice of award. Successful applicants will be notified in writing of an award of financial assistance, including any conditions and terms of the approval.
	108.8(2) Contract required. The department shall prepare a contract, which includes, but is not limited to, a description of the networking event to be completed by the applicant; conditions for disbursement; required reports; and the repayment requirements imposed in the event the applicant does not fulfill its obligations described in the contract and other specific repayment provisions (“clawback” provisions) to be established on a project-by-project basis.
	108.8(3) Reporting. An applicant shall submit any information requested by the department in sufficient detail to permit the department to prepare the report required pursuant to 2007 Iowa Acts, House File 829, section 10, and any other reports deemed necessary by the department, the board, the general assembly or the governor’s office.
These rules are intended to implement 2007 Iowa Acts, House File 829.
[Filed emergency 9/20/07—published 10/10/07, effective 9/20/07]
[Filed 11/15/07, Notice 10/10/07—published 12/19/07, effective 1/23/08]
[Filed 2/22/08, Notice 12/19/07—published 3/12/08, effective 4/16/08]