As used in this Part, the following terms shall have the meanings specified in this Section:
(1) "Applicant" means a private nonprofit or public entity located in this state.
(2) "Corporation" means the Louisiana Economic Development Corporation.
(3) "Program" means the Monroe and Northeast Louisiana Technology and Business Incubation Center.
(4) "Small business incubator" means a multi-tenanted facility which is characterized by shared business services, equipment, space, and access to on-premises business consultants for tenants and which is operated by a private nonprofit or public entity.
(5) "Tenant" means a sole proprietorship, partnership, corporation, or limited liability partnership or company which operates within a small business incubator and is primarily a technology based start-up company as determined by the Louisiana Economic Development Corporation.