BILL REQ. #:  S-1719.1 

READ FIRST TIME 02/21/07.   

     AN ACT Relating to promoting economic development through commercialization of technologies; and amending RCW 28B.20.297.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

Sec. 1   RCW 28B.20.297 and 2005 c 357 s 1 are each amended 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 ((and that)). 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 participation by Washington state small businesses in the federal small business innovation research program by assisting them in becoming small business innovation research program grant recipients((.
     The legislature further finds that many small business innovators lack the grant-writing skills necessary to prepare a successful small business innovation research program proposal, and the federal program that funded grant-writing assistance has stopped operations. Nearly fifty percent of small businesses trained under the federal program won grants compared to less than ten percent of those that did not receive training));
     (b) 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
     (c) Increase funding for product development and production by providing information on available finance options and facilitating the matching of investors with innovative entrepreneurs.
     (2) As used in this section:
     (a) "Small business innovation research program" means the program, enacted pursuant to the small business innovation development act of 1982, P.L. 97-219, that provided funds to small businesses to conduct innovative research having commercial application.
     (b) "Small business" means a corporation, partnership, sole proprietorship, or individual, operating a business for profit, with two hundred fifty employees or fewer, including employees employed in a subsidiary or affiliated corporation, that otherwise meets the requirements of the federal small business innovation research program.
     (3) To the extent funds are appropriated for these purposes, the Washington technology center shall:
     (a) Establish a small business innovation research assistance program, including a proposal review process, to train and assist Washington small businesses to win phase I small business innovation research program awards. (((a))) In operating the program the Washington technology center shall give priority to first-time small business innovation research program applicants, new businesses, and firms with fewer than ten employees((.));
     (b) 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;
     (c) 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
     (d) Report on the impact of commercialization activities at Washington research institutions on an annual basis.
     (4) The Washington technology center may charge a fee for ((this service)) its services.