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History
- Referred to higher education
- Referred to higher education
Full text
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Sponsor's memo
BILL NUMBER:S1655
Title of bill
An act to amend the education law, in relation to establishing the state university commercialization facilities use policy
Purpose
To codify state university facilities use policy for the purposes of encouraging commercialization activity on campuses.
Summary of provisions
University facilities may be used by private firms for the purposes of commercializing new technologies. The cost of the use of university space may be met with user fees, other non-university resources or equity share in the applicant firm. The policy permits companies to retain intellectual property rights under these circumstances. The effectiveness of the policy will be evaluated annually.
Amends section 35 of the education law by adding a new subdivision 3-a.
Justification
The state university system is one of the great sources for innovation in the state. The majority of licensed SUNY technologies need continued development in order to be made into a product or service for public consumption. SUNY can ensure that those development dollars stay in New York through programs that leverage use of its facilities and equipment in consideration for equity in New York based startup companies that license SUNY technology.
Companies often apply for access to university facilities to perform development work, working side-by-side with SUNY researchers to solve practical barriers to commercialization. However, SUNY must recover the costs associated with the company's use of its facilities and research, and development dollars are scarce. An equity-based facilities access program will allow SUNY to open its doors and meet the research and development needs of New York based startups, SUNY can accept an equity position valued at the cash equivalent of its cost to provide access to a given facility or equipment.
R&D assistance is a major incentive to entrepreneurs to create companies around SUNY technology and locate in New York to gain access to SUNY's state-of-the-art facilities and equipment. With this program, SUNY can make New York an even more attractive entrepreneurial environment and retain high growth companies.
Legislative history
2012 S.7154.
Fiscal implications
None expected.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.