Legislation now moves to Small Business Committee
Congressman Chris Collins' legislation to help scientists commercialize their ideas passed through the House Committee on Science, Space and Technology today. The TRANSFER Act of 2013, which passed with bipartisan support and has the backing of local and national research universities, will now go to the House Committee on Small Business for approval.
"This legislation addresses what we as a committee have heard time and time again: There is a valley of death - a place where innovative new ideas die because there is no path to commercialization," said Collins, R-NY-27. "This legislation mends that valley."
"Every day, new ideas are realized at our universities, nonprofit research institutes and national labs," Collins continued. "These ideas often remain just ideas because many researchers lack the resources to further their invention or concept. By investing in some of our nation's brightest minds, we can create desperately needed new jobs and small businesses. This bill will positively impact the federal taxpayers and local research institutions, including the University at Buffalo, RIT, the University of Rochester and SUNY Geneseo."
As a member of the Committee on Science, Space and Technology, Collins is the sponsor of the TRANSFER Act (H.R. 2981). This bill builds upon a current program and specifically awards grants to innovative technology transfer programs at universities, research institutes and national laboratories.
Collins announced this legislation earlier this year at stops at the University at Buffalo's Clinical and Translational Research Center in downtown Buffalo, the RIT Venture Creations Incubator in Rochester, and at SUNY Geneseo during a visit to its nuclear molecular lab.
The budget neutral TRANSFER Act would provide $50,000 grants, on average, and is supported by the American Council on Education, the Association of American Medical Colleges, the Association of American Universities, the Association of Public and Land-grant Universities, the Association of Independent Research Institutes, the Association of University Research Parks, the Association of University Technology Managers, the Information Technology and Innovation Foundation, the State Science and Technology Institute, Battelle, SRI International, the National Venture Capital Association, Tech America and the Task Force on American Innovation.
This bipartisan bill is co-sponsored by Congressman Derek Kilmer of Washington and is backed by Committee Chairman Lamar Smith (R-TX) and Ranking Member Eddie Bernice Johnson (D-TX).