(a) After consulting with the Secretary, the Board shall adopt standards to award financial assistance. (b) The standards shall authorize the award of financial assistance to: (1) support the development and use of best practices in the incubation process; (2) provide strategic planning, needs assessments, and feasibility studies; or (3) help acquire or improve new or expanded space or improve existing space for an incubator, including providing or helping another with: (i) acquisition of land; (ii) acquisition of architectural or engineering services; (iii) payment of administrative costs; (iv) development or upgrading of communications infrastructure; (v) acquisition of furnishings or equipment; or (vi) acquisition of other items associated with tenant build-out.