81-12,153. Terms, defined.

For purposes of the Business Innovation Act:

(1) Department means the Department of Economic Development;

(2) Federal grant program means the federal Small Business Administration's Small Business Innovation Research grant program or Small Business Technology Transfer grant program;

(3) Microenterprise means a for-profit business entity with not more than ten full-time equivalent employees;

(4) Prototype means an original model on which something is patterned by a resident of Nebraska or a company located in Nebraska; and

(5) Value-added agriculture means increasing the net worth of food or nonfood agricultural products by processing, alternative production and handling methods, collective marketing, or other innovative practices.

Source:Laws 2011, LB387, § 2; Laws 2015, LB449, § 1; Laws 2017, LB217, § 34. Termination Date: December 1, 2021