|(a) Any eligible institutions whether public or independent may apply for the technology transfer program. (b) An eligible public or independent institution must be accredited by the Commission on Colleges of the Southern Association of Colleges and Schools. (c) An eligible public or independent institution must have adopted an intellectual property policy meeting the minimal standards set out in Texas Education Code, §51.680. A copy of the policy must be approved by the Commissioner and be on file at the Coordinating Board. (d) An institution must show that it has external matching contributions from an industrial or private entity that intends to commercialize the technology in an amount equal to or greater than the amount of grant funds requested.