Report Title:

Office of Technology Transfer and Economic Development; University of Hawaii.

Description:

Appropriate $100,000 to the department of business, economic development, and tourism to enter into a partnership with a qualified private entity to assist the office of technology transfer and economic development to accelerate commercialization of University of Hawaii discoveries.

HOUSE OF REPRESENTATIVES	H.B. NO.	3074
TWENTY-FOURTH LEGISLATURE, 2008
STATE OF HAWAII

A BILL FOR AN ACT

RELATING TO A TECHNOLOGY TRANSFER PARTNERSHIP AT THE UNIVERSITY OF HAWAII.

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

     SECTION 1.  The legislature finds that universities that generate new knowledge and discoveries can be important contributors in developing a state's technology-based economy.  For the university to make that contribution there must be effective mechanisms to move innovation into the marketplace.  At the University of Hawaii, commercialization assistance is provided by the office of technology transfer and economic development.  Activities include securing patents, seeking licensing opportunities, and assisting university researchers to transform ideas and innovations into products ready for commercialization.

     The legislature further finds that the effectiveness of the office of technology transfer and economic development in fulfilling its mandate could be increased by collaboration with experts and funding from the private sector.  The purpose of this Act is to increase commercialization of University of Hawaii discoveries by providing funds to the department of business, economic development, and tourism to enter into a partnership with a qualified and experienced private sector entity to work with the office of technology transfer and economic development.

     This partnership will provide the University of Hawaii with resources and expertise to increase the number of discoveries disclosed and the number of partnerships and arrangements to commercialize those discoveries.  The department of business, economic development, and tourism, the private sector partner, and the University of Hawaii will contribute to this commercialization joint venture; and the private sector partner and the University of Hawaii will share in the return of their efforts.

     SECTION 2.  There is appropriated out of the general revenues of the State of Hawaii the sum of $100,000, or so much as may be necessary, for fiscal year 2008-2009, to carry out the purposes of this Act.  The sum appropriated shall be expended by the department of business, economic development, and tourism.

     SECTION 3.  This Act shall take effect on July 1, 2008.

INTRODUCED BY:	_____________________________
	BY REQUEST