New Jersey 2022-2023 Regular Session

New Jersey Assembly Bill A2098

Introduced
2/7/22  

Caption

Establishes technology transfer assistance program in EDA.

Impact

This legislation is anticipated to enhance state laws regarding technology transfer by formalizing support mechanisms for intellectual property created in academic contexts. The EDA will conduct patentability assessments and market evaluations for technologies conceived within state-funded enterprises. By actively supporting the patenting and commercialization process, the bill aims to bolster the state's innovation economy, potentially leading to job creation and growth in the tech sector.

Summary

Assembly Bill 2098 establishes a technology transfer assistance program under the New Jersey Economic Development Authority (EDA). The bill facilitates the dissemination of technology developed through state-funded academic programs and helps private technology businesses in transitioning their innovations to commercial applications. By partnering with institutions of higher education, the EDA aims to improve the effectiveness of technology transfer processes and promote economic development throughout New Jersey.

Contention

While the bill generally has positive reception from stakeholders focused on economic advancement, there may be concerns regarding the allocation of public funds toward assisting private enterprises. There might also be discussions on the effectiveness of such partnerships with higher education institutions and their capacity to actually foster successful technology transfers. Additional critiques could focus on how the ownership and commercialization agreement structures could impact academic freedom or the administrative burdens these programs might impose on educational institutions.

Companion Bills

No companion bills found.

Previously Filed As

NJ A979

Establishes technology transfer assistance program in EDA.

NJ S220

"Fusion Technology Industry Promotion Act"; establishes program to promote fusion technology industry and attract fusion technology businesses.

NJ S367

"Fusion Technology Industry Promotion Act"; establishes program to promote fusion technology industry and attract fusion technology businesses.

NJ A1835

Establishes innovation zone program to stimulate technology industry clusters around New Jersey's research institutions; allows certain technology businesses located in certain innovation zones to receive certain tax credits under Grow New Jersey Assistance Program.

NJ A1614

Establishes innovation zone program to stimulate technology industry clusters around New Jersey's research institutions; allows certain technology businesses located in certain innovation zones to receive certain tax credits under Grow New Jersey Assistance Program.

NJ S1007

Establishes Emerging Technology Urban Grant Program in EDA.

NJ S2189

Establishes Emerging Technology Urban Grant Program in EDA.

NJ A2061

Establishes Emerging Technology Urban Grant Program in EDA.

NJ A1247

Establishes Emerging Technology Urban Grant Program in EDA.

NJ S992

Establishes NJ Fusion Technology Industry Commission.

Similar Bills

NJ A979

Establishes technology transfer assistance program in EDA.

NJ A940

Establishes Clean Energy Technology Center and Alternative and Clean Energy Investment Trust Fund for purposes of creating clean energy-related employment opportunities; allocates revenues from societal benefits charge to support its activities.

NJ A604

Establishes Clean Energy Technology Center and Alternative and Clean Energy Investment Trust Fund for purposes of creating clean energy-related employment opportunities; allocates revenues from societal benefits charge to support its activities.

TX SB1124

Relating to creation of the university research initiative fund, the abolishment of the Texas emerging technology fund, and the disposition of balances from the Texas emerging technology fund.

NM HB67

Tech Readiness Gross Receipts Tax Credit

TX HB3853

Relating to creation of the university research initiative fund, the abolishment of the Texas emerging technology fund, and the disposition of balances from the Texas emerging technology fund.

NJ S4070

Establishes Fusion Energy and Technology Incentive Program in EDA to encourage use of power plants for fusion energy and technology purposes; authorizes funds in Global Warming Solutions Fund to support fusion energy and technology facilities.

TX HB29

Relating to the funding of certain activities related to the commercialization of emerging technologies.