Section 4F. (a) There is hereby established and set up on the books of the corporation the Massachusetts Research Center Matching Fund, hereinafter referred to as the ''matching fund,'' to which shall be credited the proceeds of any bonds or notes of the commonwealth issued for the purpose, and any appropriations designated by the general court to be credited thereto. The matching fund shall be administered by the John Adams Innovation Institute established by section 6A. The corporation shall hold the matching fund in an account or accounts separate from other funds of the corporation. The purpose of the matching fund is to provide matching funds to be available to institutions of higher education and other nonprofit research institutions located in the commonwealth in connection with applications by such institutions for scientific or engineering research funding from the federal government or other sources or in connection with collaborative academic research centers and for projects to support technology platforms and industry cluster development supported by the corporation, provided, however, that any such grant awarded in accordance with this section shall leverage at least $1 for each dollar granted.

This fund shall also support Centers of Excellence, hereinafter referred to as Centers, for research and innovations in targeted emerging technologies. Centers shall (i) perform basic research relevant to its targeted sector, (ii) enhance the development of technology in the targeted sector, (iii) provide technical assistance to current or prospective companies involved in the targeted sector for product development, (iv) involve or employ higher education and secondary education students and faculty in research and in the center's operations, (v) facilitate faculty externships and student internships in targeted sector industries, and (vi) provide incumbent employee training for high level sector related skills. To be designated a Center, the following must be demonstrated: (1) an expertise in the targeted technology sector; (2) a collaboration with other institutions of higher education; (3) a collaboration with 1 or more industries and nonprofit partners; and (4) a creation of an advisory board that represents its targeted sector related stakeholders. In the first year, 3 such Centers shall target the research and development of medical devices, nanotechnology and biotechnology. One of the first 2 Centers shall be located in southwestern Massachusetts, and the other shall be located in northeastern Massachusetts. Any funds allocated for Centers shall be matched in the first year with at least $1 from federal or private funding sources for each dollar granted. The match requirements shall increase in subsequent years to at least $2 from federal or private sources for each $1 granted. Two–thirds of the matched funds may be in-kind. The corporation shall adopt rules and regulations for the administration of the matching fund, which rules and regulations shall be transmitted 60 days in advance to the executive office for administration and finance, the department of economic development, the house and senate committees on ways and means and the house and senate committees on science and technology.

[There is no subsection (b).]