DIGEST OF INTRODUCED BILL
Virtual incubator program. Requires the Indiana economic development corporation (IEDC) to establish and administer an Internet-based virtual incubator pilot program. Provides that under the virtual incubator pilot program, the IEDC shall assist entrepreneurs that are seeking to establish or that are operating a start-up small business for which the conventional business incubation and assistance programs may not be appropriate because of distance, population dispersal, or the scale of the business venture. Provides that the tenants under the virtual incubator pilot program are limited to businesses located in northwestern Indiana. Specifies certain criteria that must be used by the IEDC in evaluating applications and selecting tenants. Requires the IEDC to adopt policies and guidelines concerning entrance to and exit from the virtual incubator pilot program. Requires the IEDC to submit an annual report concerning the virtual incubator pilot program to the legislative council.