(a) Only qualifying universities may submit proposals for grant funding from the Initiative.
(b) The participating members of the Initiative may establish a committee composed of experts in the areas of research considered for commercialization.
(c) The Initiative may establish the committee under service contracts with independent reviewers.
(d) The committee shall:
(1) review, evaluate, and rate proposals for funding from the Initiative, based on:
(i) the viability of commercializing the technology; and
(ii) the relative costs associated with commercializing the technology; and
(2) make recommendations to the participating members of the Initiative for the award and disbursement of grants from the Initiative.
(e) A member of the committee is not eligible to receive funding from the Initiative.