"NEW SECTION.  Sec. 1   A new section is added to chapter 43.31 RCW to read as follows:
     (1) The legislature finds that small technology-based firms are the source of approximately one-half of the economy's major innovations. The legislature further finds that economic development in the state is increasingly driven by innovative firms and that it is in the interest of the state to:
     (a) Increase the number of innovative firms that understand and engage in the technology commercialization process by providing information resources and technical assistance in accessing new technologies; and
     (b) Increase funding for product development and production by providing information on available finance options and facilitating the matching of investors with innovative entrepreneurs.
     (2) To the extent funds are appropriated for these purposes, the department shall:
     (a) In conjunction with public universities and colleges and private and federal research laboratories in the state:
     (i) Develop and disseminate a guide to the technology commercialization process in general and the particular commercialization assistance available from research and academic institutions in the state;
     (ii) Develop, maintain, and provide access to a database of technologies and inventions developed in the state available for commercialization and licensing; and
     (iii) Offer training on the provision of commercialization assistance to technical assistance providers at the state's small business development centers, economic development councils, chambers of commerce, industry associations, the Washington manufacturing service, and private consulting firms;
     (b) Develop a funding resource guide, offer workshops on how to access financing for commercializing new technologies, provide opportunities for novice investors to learn about investing in technology-based companies, host events to connect entrepreneurs and investors, and maintain an interactive web site accessible by both entrepreneurs and investors; and
     (c) Report to the governor and the legislature on the impact of commercialization activities at Washington research institutions on an annual basis.
     (3) The department shall contract with outside entities on a competitive bid basis to accomplish the requirements of subsection (2)(a) and (b) of this section."