The definitions in this section apply throughout this chapter unless the context clearly requires otherwise. (1) "Business incubator" means a facility that offers: (a) Space for start-up and expanding firms; (b) The shared use of equipment and work areas; (c) Daily management support services essential to high quality commercial operations; and (d) Technical assistance. (2) "Qualified small business incubator" means an incubator that is: (a)(i) Designated as a nonprofit organization under section 501(c)(3) of the internal revenue code, or (ii) consists of a partnership between a designated nonprofit organization under section 501(c)(3) of the internal revenue code and a government or quasi-government agency; (b) Focused on developing small businesses in an economically distressed or disadvantaged area; and (c) Structured around a sound business plan.
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