Senate Commerce Committee Statement to Senate No. 553, New Jersey (November 3, 2022)

Summary

The New Jersey Senate Commerce Committee reported Senate Bill No. 553 favorably on November 3, 2022. The bill adds a duty for the Commission on Science, Innovation and Technology to work with university technology transfer professionals to move research to the private sector, with an emphasis on start-ups.

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     SENATE COMMERCE COMMITTEE

                    STATEMENT TO

                  SENATE, No. 553

 STATE OF NEW JERSEY
                  DATED: NOVEMBER 3, 2022

    The Senate Commerce Committee reports favorably Senate Bill
No. 553.
   This bill amends the existing duties of the New Jersey
Commission on Science, Innovation and Technology to include a
duty to collaborate with technology transfer professionals at public
and private institutions of higher education to assist in transferring
technology and research knowledge to the private sector, with an
emphasis on start-ups, for the purpose of further development and
commercialization, which may include, but not be limited to,
organizing events to showcase early-stage technologies and
research.
    This bill was pre-filed for introduction in the 2022-2023 session
pending technical review. As reported, the bill includes the changes
required by technical review, which has been performed.


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