1. “Applicant organization” means an Oklahoma-based entity that is a nonprofit research foundation or private enterprise of special importance to the Oklahoma economy; and

2. “Eligible student” means an individual currently enrolled in an undergraduate or graduate program at an institution of higher education who is majoring in a science, technology, engineering, and mathematics (STEM) based discipline including, but not limited to, natural sciences, computer science, materials science, engineering, biomedical, biotechnical, data analytics, finance, mathematics, or a support area related to building successful Oklahoma high-tech companies.

1. Documentation verifying that not less than fifty percent (50%) of the total direct cost of the proposed project will be provided by sources other than the Oklahoma Center for the Advancement of Science and Technology and other state-appropriated money. Such sources may be in the form of salary, cash, nonstate grant funds, and other sources of funding as defined by the Oklahoma Center for the Advancement of Science and Technology;

2. A description of the potential commercial application of and the industrial sectors that will likely benefit from the project and the potential to enhance employment opportunities in Oklahoma;

3. An itemized research budget, timeline, and research methodology; and

4. Any other information that may be required by the Board.

1. Provides a beneficial and meaningful intern experience which includes exposure to real-world application of technology and innovation activities;

2. Involves projects leading to innovation, new knowledge, or technology that will benefit the applicant organization;

3. Has a reasonable probability to enhance employment opportunities within Oklahoma;

4. Is technically sound, will produce a measurable result, and provide a positive impact to the applicant organization; and

5. Does not involve market surveys or research activities that create fundamental or basic information which lack the potential for reasonably short-term commercialization.

1. The proposed project is research that leads to innovation, new knowledge, or technology and is not training or technical assistance for business firms;

2. The project has a reasonable probability to enhance employment opportunities within the state; and

3. The project is technically sound and will produce a measurable result.