SECTION 208:1-5-1. EDGE Fund

(a)   Statutory authority. The EDGE Fund is a legislatively created trust fund for furthering the mission and purpose of the EDGE Fund. The Policy Board may expend funds from the EDGE Fund trust that are certified as available by the Board of Investors. [62 O.S. 2006, §§47 and 52].

(b)   Vision and mission. In fulfilling the EDGE Fund's vision and mission, the Policy Board will provide for its designated projects and programs as it deems appropriate, which may include:

(1)   matching funds for applied research,

(2)   funds for proof of concept,

(3)   funds for purchasing equipment or applied research, and

(4)   seed capital including, but not limited to, capital for the OCAST Seed Capital Revolving Fund. [62 O.S. 2006, §52(A)]

(c)   Funding terms

(1)   Funding awards. The Policy Board shall promulgate rules and develop timelines governing the review of funding proposals. The Policy Board may set special requirements or limitations on the funding awards and those requirements or limitations shall be included in the funding specifications and published in the Policy Board's funding solicitations.

(2)   Allocations. The Policy Board may establish the amount of funding to be allocated to its areas of focus for each fiscal year.

(3)   Submission periods. The Policy Board shall establish the dates of the application submission period or periods for each fiscal year and announce the dates in the solicitation.

(4)   Preference to cooperative proposals. In considering funding proposals, the Policy Board shall give preference to cooperative proposals that include researchers from multiple institutions, including higher education, nonprofit research institutions, and private enterprise. [62 O.S. 2006, §52 (K)]

(5)   Types of awards. To the fullest extent permitted by law, the Policy Board may award the funding through grants, loans, contributions, investments, contracts or other agreed forms and subject to such terms and conditions, all as it deems appropriate in fulfilling the EDGE Fund's vision and mission.

(6)   Possible supplementary funding. The Policy Board may elect to provide supplementary funding for existing programs including, but not limited to, the Oklahoma Health Research program, the Oklahoma Applied Research Support program, or such other programs as it may deem are necessary to advance the technology-based economy in Oklahoma. [62 O.S. 2006, §52.G]

(7)   Cooperative agreements with OCAST. The Policy Board may enter into cooperative agreements with OCAST to provide assistance in program development, due diligence, project selection, administration and management of research and technology development programs, or any combination of the foregoing. [62 O.S. 2006, §52.H]

(8)   Contract periods. The length of a contract shall not be less than one year. The maximum contract period shall be established by the Policy Board.

(9)   Additional funding terms. The Policy Board may establish additional funding terms, which it would announce in the solicitation.

(10)   Confidentiality. The Policy Board will make every reasonable effort to maintain the confidentiality of information submitted to or compiled by the Board. Any information submitted to or compiled by the Policy Board with respect to the marketing plans, financial statements, trade secrets, research concepts, methods or products, or any other proprietary information of persons, firms, associations, partnerships, agencies, corporations, institutions of higher education, nonprofit research institutions or other entities shall be confidential, except to the extent that the person or entity providing such information or the subject of such information consents to disclosure; provided, however, there shall be no guarantee that such information will remain confidential. [62 O.S. 2006, §52.E]

[Source: Added at 25 Ok Reg 1905, eff 7-1-08]