Code of Massachusetts Regulations
946 CMR - MASSACHUSETTS DEVELOPMENT FINANCE AGENCY
Title 946 CMR 8.00 - RATES
Section 8.02 - Definitions

As used in 946 CMR 8.00, the following terms shall have the following meanings:

Board. The Board of Directors of MassDevelopment.

Company. A small corporation or startup company that submits an application for determination by UMass as to whether it meets the Eligibility Criteria for Voucher(s) from the Fund.

Core Facilities. UMass-owned research-based hardware and software that are available at a daily rate, hourly rate, or per-unit rate, for use by companies who contract with UMass to use, or to have work performed using, said facilities.

Eligibility Criteria. As set forth in the 946 CMR 8.02: Guidelines.

Fund. The Innovation Voucher Program Fund created pursuant to the authority in M.G.L. c. 75, § 45C, which is credited with any appropriations designated by the general court and any monies generated through corporations or nonprofit entities.

Guidelines. Guidelines of the Innovation Voucher Program Fund as established and amended by MassDevelopment, from time to time, and approved by the Board.

MassDevelopment. The Massachusetts Development Finance Agency.

UMass. The University of Massachusetts established under M.G.L. c. 75, § 1.

Voucher. A voucher issued by UMass to a Company that meets the Eligibility Criteria and provides a portion of the cost of hourly or daily use or per unit rate of the Core Facilities, which shall be used to advance the goals of job growth creation, innovation and economic development which may include, but shall not be limited to: the construction of prototypes, testing, and market research.