Kilmer Introduces Bill to Turn Ideas into Commercial Success and Grow the Economy
A bipartisan group including Representative Derek Kilmer introduced a bill today that would spur economic growth by helping innovators and entrepreneurs commercialize their ideas. Representative Kilmer, a member of the Science, Space and Technology Committee, is the lead Democratic co-sponsor of the TRANSFER Act.
This bipartisan bill builds upon a current program and specifically awards grants to innovative technology transfer programs at universities, research institutes, and national laboratories. This program will help universities and research institutes commercialize new technologies and support the creation of new small businesses.
“We need to get this economy moving forward. We know that more than half of the expected economic growth in the next decade will come from science and technology. This bill will help innovators commercialize their products and make it easier to get them into the marketplace,” said Representative Derek Kilmer. “Every community in our region – and in our country – has the opportunity to see the growth of new ideas, new investments, and new small businesses. I’m proud to work across the aisle on an effort to make that happen and get people back to work.”
"We are pleased to see Representatives Kilmer and Collins come together on this important issue and introduce the TRANSFER Act," said Linden Rhoads, Vice Provost for the Center for Commercialization at the University of Washington. "The funding provided through this bill will help universities like UW address major challenges presented by the funding gap - or ‘valley of death' - as our researchers attempt to move early stage technologies and discoveries from the lab to the marketplace."
Anson Fatland, Associate Vice President of Economic Development and External Affairs, WSU said, “We are pleased at the steps taken by Congressman Kilmer to support the innovative research and development done at Washington State University. The support of leaders like Congressman Kilmer allows us to focus on bringing partners together in the development and commercialization of inventions and discoveries stemming from research conducted at WSU."
The TRANSFER Act would reform an existing grant program to kick-start new products and new start-ups. This bipartisan bill is being sponsored by Representative Chris Collins of New York and has the support of Science, Space and Technology Committee Chairman Lamar Smith (R-TX) and Ranking Member Eddie Bernice Johnson (D-TX).
The bill has the support of the American Council on Education, the American Energy Innovation Council, the Association of American Medical Colleges, the Association of American Universities, the Association of Independent Research Institutes, the Association of Public and Land-grant Universities, the Association of University Technology Managers, Battelle, and SRI International.