SENATE BILL REPORT
SB 5736
This analysis was prepared by non-partisan legislative staff for the use of legislative members in their deliberations. This analysis is not a part of the legislation nor does it constitute a statement of legislative intent. |
As of February 15, 2011
Title: An act relating to promoting economic development through commercialization and sharing of technologies.
Brief Description: Promoting economic development through commercialization and sharing of technologies.
Sponsors: Senators Chase, Kastama and Shin.
Brief History:
Committee Activity: Economic Development, Trade & Innovation: 2/16/11.
SENATE COMMITTEE ON ECONOMIC DEVELOPMENT, TRADE & INNOVATION |
Staff: Edward Redmond (786-7471)
Background: The Washington Technology Center (WTC) was established by the Legislature in 1983 with the purpose to facilitate collaboration between the state's research universities and the technology industry. WTC performs and commercializes research on a statewide basis for the intermediate and long-term economic benefit of Washington. WTC also conducts research that is of primary interest to Washington-based companies and state economic development programs in order to strength public/private collaboration. Amongst other duties, WTC establishes priorities for the selection and funding of research projects as well as approves and allocates funding for research projects that it conducts internally. The WTC is administered by a board of directors appointed by the Governor that includes 14 industry members, eight university members, and four ex officio members.
In 2006 the Washington Economic Development Commission (WEDC) released its report on enhancing Washington's economic future through commercializing technology developed in state research institutions. The report listed 18 recommendations from leveraging Discovery Fund investments in order to encourage collaboration among private companies and research institutions, to developing national networking opportunities for students and business leaders in Washington's leading research and development areas.
The WEDC report also recommended providing access to a database of inventions. The report found that research institutions have already developed and implemented individual databases of technologies available for commercialization. Once integrated, the report proffered, the database would provide common fields and work with the research institutions to draw appropriate data from the existing research institution's databases. The report further recommended that once populated, the searchable front end should be prominently hosted online by a neutral third party, such as the WTC, with technology commercialization expertise and available resources.
Summary of Bill: WTC is required to work with public universities and private organizations to develop and maintain a database of inventions available for commercialization. In addition, WTC must publish a quarterly online newsletter to promote the database and commercialization activities, and develop a collaborative funding mechanism to finance the database, which includes soliciting gifts and grants from public and private entities. WTC may also charge a fee for this service.
An innovation database account is created. WTC must deposit all receipt from public and private contributions to the database into the account. The Department of Commerce, upon WTCs recommendation, must authorize expenditures from the account.
Appropriation: None.
Fiscal Note: Requested on February 09, 2011.
Committee/Commission/Task Force Created: No.
Effective Date: Ninety days after adjournment of session in which bill is passed.