(1) An iHub may do all of, but shall not be limited to, the following:

(a) Provide counseling and technical assistance to entrepreneurs, either by direct or indirect services, in the following areas:

(i) The legal requirements for starting a business;

(ii) Entrepreneurial business planning and management;

(iii) Financing and the use of credit;

(iv) Marketing for small businesses;

(v) Tax education;

(vi) Financial account management, bookkeeping, and budgeting;

(vii) Leadership development;

(viii) Insurance needs and requirements;

(ix) Sources for grant funding and how to apply for such grants;

(x) Financial literacy education;

(xi) Permit and licensing requirements; and

(xii) Government procurement processes;

(b) Conduct business workshops, seminars, and conferences with local partners including, but not limited to, universities, community colleges, local governments, state and federal service providers, private industry, workforce investment boards and agencies, small business development centers, microenterprise development organizations, small business service agencies, economic development organizations, and chambers of commerce;

(c) Facilitate partnerships between innovative startup businesses, research institutions, and venture capitalists or financial institutions;

(d) Provide the following for entrepreneurs:

(i) Housing;

(ii) Retail space;

(iii) Commercial kitchens;

(iv) Community spaces;

(v) Coworking spaces; and

(e) Make loans and award grants to entrepreneurs.

(2) An iHub shall, to the extent feasible, do all of the following:

(a) Work in close collaboration with the activities of the department as its primary statewide partner; and

(b) Coordinate activities with community colleges, universities, and other state economic and workforce development programs.