commercialization

Gov. Martin O'Malley last week unveiled details of his proposed $100 million venture fund announced last year during his re-election campaign as an initiative to grow the state's knowledge-based industries, particularly within the life sciences sector (see the June 9, 2010 issue of the Digest). The governor's budget also provides funding for the state's 10-year Bio 2020 initiative, including $12.4 million for stem cell research, $8 million for biotechnology tax credits and $3.8 million for the Maryland Biotech Center.

A $25 million fund providing grants for tech commercialization, matching funds for research, and funding to attract "star" researchers to Virginia's universities is a key component of Gov. Bob McDonnell's $54 million Opportunity at Work agenda presented to lawmakers as part of his amendments to the 2010-12 budget. The governor's budget also includes $5 million for a refundable R&D tax credit and an extra $50 million for higher education directed toward increasing college access and economic development opportunities.

A competition aimed at helping move innovative ideas from the lab into the marketplace was announced this week by the U.S. Department of Commerce's Office of Innovation and Entrepreneurship and Economic Development Administration (EDA). In partnership with the National Institutes of Health and the National Science Foundation, EDA will award $1 million each to six teams across the nation with the most innovative ideas to drive technology commercialization and entrepreneurship. NSF will award $6 million to SBIR grantees associated with the winning teams. Aiming to drive regional economic growth, the "i6 Challenge" is designed to highlight successes and accelerate technology commercialization. Entrepreneurs, investors, universities, foundations and nonprofits are eligible to apply. A conference call for potential applicants will be held May 17; applications are due July 15. More information is available at: http://www.eda.gov/i6.

Virginia lawmakers passed a bill last month supporting the state's bioscience industry and providing incentives to investors for bioscience and advanced technology commercialization. The legislation comprised all of the top recommendations from the 2008 Joint Legislative Subcommittee on the Biosciences.

Early-stage Colorado bioscience companies and researchers in clean and alternative energy working to commercialize new technologies are among the victors of Colorado’s legislative session that ended last week.
 
To encourage bioscience research and speed technology commercialization, Gov. Bill Ritter signed into law HB 1001, establishing the Colorado Bioscience Research Grant Program. The grant program will provide $26.5 million over five years to research institutions and private companies, beginning with $5.5 million this year. Unveiled by the governor last fall, the program is the first portion of the administration’s business development package to be approved by legislators (see the Oct. 3, 2007 issue of the Digest).
 
The legislation mandates that at least 30 percent of the funds go toward university and research institution technology transfer offices to accelerate the development of research projects focusing on life sciences, engineering, material sciences, computer sciences, photonics or nanotechnology. Another 30 percent of the funds will go to early-stage bioscience companies that are commercializing technology from a Colorado research institution or technology transfer office. Other funds will be distributed for infrastructure development.
 
Research institutions are eligible for $150,000 per project, and grants of up to $250,000 per project will be awarded to Colorado companies that have received no more than $5 million in funding and employ 20 or fewer people. The program will be administered by the Colorado Office of Economic Development.
 
Adding to the excitement surrounding the bioscience industry throughout the state, Colorado State University announced in March a new Clean Energy Supercluster, dubbed "Cenergy," to help accelerate the university’s clean energy research to the marketplace. Superclusters are an alliance of academic researchers, economists and business experts organized to address global challenges and encourage collaboration among business and academia.
 
Gov. Bill Ritter also signed the fiscal year 2008-09 budget into law last week, providing $7.65 million for the Clean Energy Fund, $2 million for the Colorado Renewable Energy Authority, and $2 million for solar incentives.
 
The Clean Energy Fund appropriation will be used to attract renewable energy industry investment, assist researchers in transferring technology to the marketplace, and provide incentives for the use of energy efficient and renewable energy products, according to the governor’s office.
 
The enacted budget, HB 1375, may be viewed through the Colorado General Assembly at: http://www.leg.state.co.us/

Many state and regional TBED organizations see federal laboratories as an integral partner in their efforts to promote technology development and commercialization. At least 22 of the leading state TBED organizations across the country have established partnerships with at least one federal laboratory to address a broad range of goals, according to a recent SSTI survey. Advancing collaborative research, strengthening industry clusters, transferring technology to/from federal labs and companies, and assisting in education and outreach were the most commonly cited reasons for pursuing closer relationships with the nation's network of 700 federal labs and research centers.