; and (ii) with the goal of promoting experiments with a range of models that institutions of higher education could use to— (I) enable new technologies to mature to the point where the technologies are more likely to succeed in the commercial market; and (II) reduce the risks to commercial success for new technologies earlier in their development. A grant awarded under this subparagraph for a purpose described in clause (i) or (ii) may also enable the institution of higher education or consortium to provide training and support to scientists and engineers who are interested in research and commercialization, if the use is included in the proposal submitted under subparagraph (B). (B) Proposals An institution of higher education or consortium desiring a grant under this paragraph shall submit a proposal to the Director at such time, in such manner, and containing such information as the Director may require. The proposal shall include a description of— (i) the steps the applicant will take to reduce the risks for commercialization for new technologies; (ii) why such steps are likely to be effective; and (iii) how such steps differ from previous efforts to reduce the risks for commercialization for new technologies. (C) Use of funds A recipient of a grant under this paragraph shall use grant funds to reduce the risks for commercialization for new technologies developed on campus, which may include— (i) creating and funding competitions to allow entrepreneurial ideas from institutions of higher education to illustrate their commercialization potential; (ii) facilitating mentorships between local and national business leaders and potential entrepreneurs to encourage successful commercialization; (iii) creating and funding for-profit or not-for-profit entities that could enable researchers at institutions of higher education to further develop new technology prior to seeking commercial financing, through patient funding, advice, staff support, or other means