"NEW SECTION.  Sec. 1   A new section is added to chapter 28B.10 RCW to read as follows:
     (1) It is the intent of the legislature that state universities engage in the commercialization of research and other economic development and workforce development activities that benefit the intermediate and long-term economic vitality of Washington. State universities are expected to develop and strengthen university-industry relationships through the conduct of research, the support of company formation and job generation, and collaborative training. The state universities, using a collaborative process that may include both in-house resources and independent contractors with necessary technical expertise or innovative processes, must perform one or more of the following functions:
     (a) Provide collaborative research and technology transfer opportunities;
     (b) Publicize their commercialization processes and include an explanation of how to access commercialization resources at the universities;
     (c) Develop mechanisms for pairing researchers, entrepreneurs, and investors. Such mechanisms are to include, but are not limited to, developing guides, web sites, or workshops on funding opportunities, on entrepreneurship and the process of starting a company, and on university-industry relations;
     (d) Host events to connect researchers to entrepreneurs, investors, and individuals from the state's technology-based industries; and
     (e) Provide opportunities for training undergraduate and graduate students through direct involvement in research and industry interactions.
     (2) In carrying out the functions in this section, the universities may work with and through the higher education coordinating board.

NEW SECTION.  Sec. 2   A new section is added to chapter 28B.10 RCW to read as follows:
     To support the formation of companies created around the technologies developed at state universities, the state universities are authorized to establish and administer bridge-funding programs for start-up companies using funds from the federal government and the private sector."