Connecticut Senate Bill SB01174

Connecticut 2011 Regular Session

• Introduced: 3/10/11
• Refer: 3/10/11
• Report Pass: 3/22/11

Caption

An Act Authorizing Bonds Of The State To Allow Nonprofit-mentored Student Teams To Commercialize Dormant Corporate Technology.

Impact

The implementation of SB 01174 is expected to have a positive impact on state laws related to economic development and innovation. By centering attention on dormant corporate technologies, the bill aims to promote productive utilizations of existing resources that might otherwise remain untapped. Furthermore, it is designed to strengthen ties between academic institutions and the corporate sector, allowing students to gain practical experience while contributing to state economic initiatives. This approach not only aligns with the goals of promoting technological advancements but also works towards improving the workforce pipeline in Connecticut by equipping students with hands-on experience in commercialization processes.

Summary

Senate Bill 01174 is an act aimed at authorizing the issuance of state bonds to support nonprofit-mentored student teams in their efforts to commercialize dormant corporate technologies. By enabling these teams to convert unused corporate innovations into viable products or solutions, the bill seeks to foster economic growth and encourage the intersection of education and entrepreneurship. The bill permits the State Bond Commission to issue bonds amounting to a total of three million dollars, specifically for funding provided to Connecticut Innovations, Incorporated, which will oversee the mentoring process for these student-led initiatives.

Sentiment

Overall sentiment around SB 01174 appears to be supportive among legislators interested in bolstering innovation and economic development in the state. Stakeholders view this bill as a pragmatic solution that leverages educational resources and corporate assets to stimulate economic activity. Advocates for the bill argue that it represents an investment in the future of Connecticut’s workforce and that it exemplifies an effective means of fostering entrepreneurship among young professionals. There does not seem to be significant opposition noted in the discussions surrounding the bill, suggesting a broad consensus on its objectives and potential benefits.

Contention

While the bill generally enjoys positive sentiment, the potential issues regarding the allocation and oversight of the bond proceeds may be areas of contention in future discussions. Opponents could argue that there needs to be strict accountability measures in place to ensure that the funds are utilized effectively and that the commercialization processes yield tangible results. Furthermore, concerns regarding the efficacy of mentorship provided and the pathways to successful commercialization could arise, emphasizing the need for transparency and strategic planning in how funds are managed and student teams are supported.