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This rule implements the Economic Development Administration's (EDA) Regional Innovation Program as authorized by section 27 (15 U.S.C. 3722) of the Stevenson-Wydler Technology Innovation Act of 1980, as amended (15 U.S.C. 3701 et seq.) ("Stevenson-Wydler" or the "Act"). Through the Regional Innovation Strategies Program ("RIS Program"), the centerpiece of the Regional Innovation Program, EDA is committed to fostering connected, innovation-centric economic sectors which support technology commercialization--the conversion of research into products and services, business, and ultimately jobs--through entrepreneurship. The realization of this goal requires building public and private capacity to invent, improve, and commercialize new products and services. To that end, RIS grant funding propels programs that build regional capacity to support innovators and entrepreneurs, such as through proof-of-concept and commercialization programs and centers, including the scaling up of existing commercialization programs and centers, and through programs that provide access to capital for early-stage companies. Major sections of this rule include a description of the functions of EDA's Office of Innovation and Entrepreneurship, the mission and objectives of the RIS program, definitions, eligibility requirements, investment rates, and application requirements.