; (II) identifying research and technologies at recipient institutions that have the potential for accelerated commercialization; (III) technology maturation funding to support activities such as prototype construction, experiment analysis, product comparison, and collecting performance data; (IV) technical validations, market research, clarifying intellectual property rights position and strategy, and investigating commercial and business opportunities; and (V) programs to provide advice, mentoring, entrepreneurial education, project management, and technology and business development expertise to innovators and recipients of technology transfer licenses to maximize commercialization potential. (iii) Selection process and applications Qualifying institutions seeking a grant under this subsection shall submit an application to a Federal agency required by subparagraph (A) to participate in this program at such time, in such manner, and containing such information as the agency may require. The application shall include, at a minimum— (I) a description of innovative approaches to technology transfer, technology development, and commercial readiness that have the potential to increase or accelerate technology transfer outcomes and can be adopted by other qualifying institutions, or a demonstration of proven technology transfer and commercialization strategies, or a plan to implement proven technology transfer and commercialization strategies, that can achieve greater commercialization of federally funded research and technologies with program funding; (II) a description of how the qualifying institution will contribute to local and regional economic development efforts