Hello Readers,
Last Friday, Governor Gregoire signed into law Engrossed Second Substitute Senate Bill (E2SSB) 6015. This bill requires that the state Department of Community, Trade and Economic Development (CTED) report to the governor and the legislature on "how the state can can best encourage and support the growth of innovation in the development and commercialization of proprietary technology in the life sciences and information technology industries". This comes right from section two of the bill, which is attached. You can read more about this bill here: http://apps.leg.wa.gov/billinfo/summary.aspx?bill=6015.
The Washington Biotech and Biomedical Association (WBBA) originally conceived of this bill to be a cabinet level position in the governor's office to direct technology transfer and commercialization activities. The legislature did not want to create a new office with new costs during a time of recession so the bill went through a number of revisions before it was finalized in the version that is attached.
WBBA and WTIA will work together as well as with a wide range of other entities that are involved in helping life sciences and IT companies grow and thrive. We will examine laws and regulations that may be barriers to growth, look at ways to increase venture capital and investment, particularly at early stages and evaluate the effectiveness of current activities and programs that already exist for these two industries.
CTED's report must be completed by December 1, 2009. WTIA is seeking member and industry company input on how the state, economic development agencies and trade associations, such as WTIA can better serve technology startups and early stage companies.
If you would like to be involved in this project or have some ideas for improving tech transfer and commercialization, please contact us at Lmcmurran@washingtontechnology.org or by phone at (206) 448-3033 x101. IT industry involvement is critical to ensure that good public policy is considered in Olympia in next year's legislative session.