(a) Only qualifying universities may submit proposals for grant funding from the Initiative. (b) The participating members of the Initiative may establish a committee composed of experts in the areas of research considered for commercialization. (c) The Initiative may establish the committee under service contracts with independent reviewers. (d) The committee shall: (1) review, evaluate, and rate proposals for funding from the Initiative, based on: (i) the viability of commercializing the technology; and (ii) the relative costs associated with commercializing the technology; and (2) make recommendations to the participating members of the Initiative for the award and disbursement of grants from the Initiative. (e) A member of the committee is not eligible to receive funding from the Initiative.