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Sen. Gillibrand, in Potsdam at Clarkson, announces legislation to grow science and tech businesses in North Country

Posted 8/17/12

POTSDAM -- Visiting Clarkson University today, U.S. Sen Kirsten Gillibrand announced legislation to spur the growth of new science and technology jobs in the North Country and across New York. After …

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Sen. Gillibrand, in Potsdam at Clarkson, announces legislation to grow science and tech businesses in North Country

Posted

POTSDAM -- Visiting Clarkson University today, U.S. Sen Kirsten Gillibrand announced legislation to spur the growth of new science and technology jobs in the North Country and across New York.

After meeting with students and faculty at Clarkson University, Gillibrand, joined by Clarkson University President Tony Collins, explained that the America Innovates Act would help scientists and researchers secure valuable resources and training to turn new discoveries into marketable products, new high-tech companies, and jobs.

“New York is home to some of the world’s brightest minds and best ideas to grow our economy,” said Gillibrand. “This common-sense legislation will help develop scientific breakthroughs into cutting edge businesses and new jobs. Providing our scientists and students with practical business skills will go a long way towards creating high-tech industries and building the next generation of innovative leaders. This is the future of our economy, and we need to make sure it starts right here in the North Country,” Gillibrand said.

Clarkson President Collins said, “To be competitive in today’s rapidly changing globalized economy requires new innovation-based approaches and technologies. Universities, like Clarkson, provide a primary source of innovation and discovery through the creation of new knowledge and the development of the workforce capable of creating, adapting and managing technology from the laboratory to the marketplace. Our Shipley Center for Innovation actively develops students and supports faculty in turning their discoveries into products, companies and jobs.”

Resources can be hard to find that will help university researchers translate their scientific discoveries into marketable products and companies. Scientists might not be trained to launch their theoretical breakthroughs into commercial, entrepreneurial successes, causing a gap between scientific research and useful products. Critical discoveries, such as the laser beam, took years to develop into everyday products like the barcode scanner.

The America Innovates Act would make capital available and help train students to turn their discoveries into products, companies, and jobs.

The bill would create an “American Innovation Bank” to help universities and other research institutions develop and commercialize discoveries.

With such funding, universities would be able to create or strengthen their “proof of concept” funds, intended to help researchers prove that their research can be practically applied. Once proved practically, investors are much more likely to risk capital on the commercialization of research, increasing the chances that the idea would turn into a new business or create new jobs at an existing company.

Universities would be able to use grants to hire additional staff for specific experiments, purchase testing equipment, test products in an industrial setting, clinical development, access expert advice in business strategy and patent and regulatory laws. Funds could also be used to build business incubators or other facilities that would support researchers.

This legislation would also provide business training for science graduate students in intellectual property protection, commercialization and product development. Under this bill, existing scientific student programs, such as Clarkson’s Shipley Center for Innovation, would be expanded. Universities would also be encouraged to develop professional science masters programs and graduate degrees that will provide students with the skills they need to pursue careers in industry.

Sen. Gillibrand praised Clarkson for serving as a model for universities and research institutions to help turn basic science discoveries into products. Clarkson has a long track record in research collaboration with industry and fostering the exchange of ideas across disciplines and schools.

Through its Shipley Center for Innovation, Clarkson accelerates the commercialization of discovery-based innovations and provides training and support to start-up firms to assure intellectual property protection, engage consultants and mentors, prepare formal business plans, and complete prototypes.

The Shipley Center now has 98 projects in the pipeline and has been responsible for 35 start-ups since October 2010. The Shipley Center also supports 21 companies in Peyton Hall, a business incubator in downtown Potsdam.

Gillibrand, a Democrat, is running to retain her seat in the Senate against Republican primary winner Wendy Long.