The department shall:
(1) Enter into service contracts on a competitive bid basis with public and private agencies, institutions, organizations, and individuals for the purpose of establishing and operating the Venture Capital Network.
(2) Receive and approve contract proposals for the purpose of establishing the Venture Capital Network.
(3) Solicit the support and contributions of public and private agencies, organizations, institutions, and individuals.
(4) Accept and administer contributions for the purpose of operating the Venture Capital Network.
(5) Advertise and promote the Venture Capital Network.