2016 Connecticut General Statutes
Title 32 - Commerce and Economic and Community Development
Chapter 581 - Innovation Capital Act of 1989. Connecticut Innovations, Incorporated
Section 32-39t - Higher Education Entrepreneurship Advisory Committee. Membership. Applications. Recommendation of approval.

Universal Citation: CT Gen Stat § 32-39t (2016)

(a) There shall be a Higher Education Entrepreneurship Advisory Committee within CTNext. Such committee shall consist of members appointed by the CTNext board of directors, 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 CTNext board. All initial appointments to the committee pursuant to this subsection shall be made not later than June 1, 2017. Each member 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 executive director of CTNext shall call the first meeting of the advisory committee not later than June 15, 2017. The advisory group shall select chairpersons of the advisory group during such meeting. The advisory committee shall meet not less than quarterly thereafter 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) Notwithstanding any provision of the general statutes, it shall not constitute a conflict of interest for a trustee, director, partner or officer of any person, firm or corporation, or any individual having a financial interest in a person, firm or corporation, to serve as a member of the advisory committee, provided such trustee, director, partner, officer or individual complies with all applicable provisions of chapter 10. All members of the advisory committee shall be deemed public officials and shall adhere to the code of ethics for public officials set forth in chapter 10, except that no member shall be required to file a statement of financial interest as described in section 1-83.

(f) Any institution of higher education, or partnership of one or more institutions of higher education, may submit an application for higher education entrepreneurship grant-in-aid to the advisory committee, on a form prescribed by the advisory committee.

(g) The advisory committee shall 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 CTNext board of directors if it determines that the application is consistent with and in furtherance of the master plan for entrepreneurship at public and private institutions of higher education developed pursuant to section 32-39s. The advisory committee shall give priority for grants-in-aid to applications including collaborative initiatives between institutions of higher education.

(May Sp. Sess. P.A. 16-3, S. 28.)

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