The Legislature finds and declares that:

(1) Job creation through rapid technology commercialization is a vital part of the state's economic well-being;

(2) Innovation and technology-driven entrepreneurial activity coupled with venture investment creates small business startups and expansions at an accelerated rate, which leads to significant employment opportunities that contribute to the state's financial health and economic competitiveness;

(3) In order to maintain a healthy state economy and to aid communities, entrepreneurship and technology-based small businesses must be stimulated and supported; and

(4) Innovation hubs could serve as a vital resource for stimulating and supporting entrepreneurship and technology-based small businesses in this state.