Michigan Laws 125.2088o – Technology transfer acceleration program
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Michigan Laws 125.2088o
- Applied research: means translational research conducted with the objective of attaining a specific benefit or to solve a practical problem, or other research activity that seeks to utilize, synthesize, or apply existing knowledge, information, or resources to the resolution of a specified problem, question, or issue, with high potential for commercial application to create jobs in this state. See Michigan Laws 125.2088a
- Commercialization: means the transition from research to the actions necessary to achieve market entry and general market competitiveness of new innovative technologies, processes, and products and the services that support, assist, equip, finance, or promote a person or an entity with that transition. See Michigan Laws 125.2088a
- Fund: means the Michigan strategic fund created under section 5, except where the context clearly requires a different definition. See Michigan Laws 125.2004
- Institution of higher education: means an institution of higher education or a community or junior college described in section 4, 5, 6, or 7 of article VIII of the state constitution of 1963 or an independent nonprofit degree-granting institution of postsecondary education in this state that is approved by the state board of education. See Michigan Laws 125.2088a
- Private sector: means other than the fund, a state or federal source, or an agency of a state or the federal government. See Michigan Laws 125.2004
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
The fund shall create and operate a program to accelerate technology transfer from Michigan’s institutions of higher education to the private sector for commercialization of competitive edge technologies and bioeconomy technologies. The technology transfer acceleration program shall include all of the following:
(a) Encourage and work with the state‘s public universities to identify the commercial potential in advanced technologies from individual institutions of higher education.
(b) Facilitate the bundling of inventions from individual institutions of higher education into packages that could be of interest to private sector firms looking for commercialization opportunities.
(c) Encourage business formation efforts in institution of higher education technology transfer offices to increase the number of institution of higher education related start-up companies.
(d) Work with institutions of higher education in encouraging the institutions to provide their faculty with incentives for participating in technology transfer and commercialization activities.
(e) Facilitate the use of the applied research expertise within institutions of higher education by qualified businesses.