262BCOMMERCIALIZATION OF RESEARCHIGENERAL PROVISIONS262B.1Title.This chapter shall be known and may be cited as the “Commercialization of Research for Iowa Act”.88 Acts, ch 1268, §9; 2003 Acts, 1st Ex, ch 1, §95, 133[2003 Acts, 1st Ex, ch 1, §95, 133 amendment to section text rescinded pursuant to Rants v. Vilsack, 684 N.W.2d 193]2005 Acts, ch 150, §30262B.2Legislative intent.It is the intent of the general assembly that the three universities under the control of the state board of regents have as part of their missions the use of their universities’ expertise to expand and stimulate economic growth across the state. This activity may be accomplished through a wide variety of partnerships, public and private joint ventures, and cooperative endeavors, primarily, but not exclusively, in the area of high technology, and may result in investments by the private sector for commercialization of the technology and job creation. It is imperative that whenever possible, the investments and job creation be in Iowa but need not be in the proximity of the universities. The purpose of the investments and job creation shall be to expand and stimulate Iowa’s economy, increase the wealth of Iowans, and increase the population of Iowa, which may be accomplished through research conducted within the state that will competitively position Iowa on an economic basis with other states and create high-wage, high-growth employers and jobs. Accredited private universities located in the state are encouraged to incorporate the intent of this section into the mission of their universities.88 Acts, ch 1268, §10; 2003 Acts, 1st Ex, ch 1, §96, 133[2003 Acts, 1st Ex, ch 1, §96, 133 amendment to this section rescinded pursuant to Rants v. Vilsack, 684 N.W.2d 193]2005 Acts, ch 150, §31262B.3Duties and responsibilities.1The state board of regents, as part of its mission and strategic plan, shall establish mechanisms for the purpose of carrying out the intent of this chapter. In addition to other board initiatives, the board shall work with the economic development authority, other state agencies, and the private sector to facilitate the commercialization of research.2The state board of regents, in cooperation with the economic development authority, shall implement this chapter through any of the following activities:aDeveloping strategies to market and disseminate information on university research for commercialization in Iowa.bEvaluating university research for commercialization potential, where relevant.cDeveloping a plan to improve private sector access to the university licenses and patent information and the transfer of technology from the university to the private sector.dIdentifying research and technical assistance needs of existing Iowa businesses and start-up companies and recommending ways in which the universities can meet these needs.eLinking research and instruction activities to economic development.fReviewing and monitoring activities related to technology transfer.gCoordinating activities to facilitate a focus on research in the state’s targeted industry clusters.hSurveying similar activities in other states and at other universities.iEstablishing a single point of contact to facilitate commercialization of research.jSustaining faculty and staff resources needed to implement commercialization.kImplementing programs to provide public recognition of university faculty and staff who demonstrate success in technology transfer and commercialization.lImplementing rural entrepreneurial and regional development assistance programs.mProviding market research ranging from early stage feasibility to extensive market research.nCreating real or virtual research parks that may or may not be located near universities, but with the goal of providing economic stimulus to the entire state.oCapacity building in key biosciences platform areas.pEncouraging biosciences entrepreneurship by faculty.qProviding matching grants for joint biosciences projects involving public and private entities.rEncouraging biosciences entrepreneurship by faculty using faculty research and entrepreneurship grants.sPursuing bioeconomy initiatives in key platform areas as recommended by a consultant report on bioeconomy issues contracted for by the economic development authority.3Each January 15, the state board of regents shall submit a written report to the general assembly detailing the patents and licenses held by each institution of higher learning under the control of the state board of regents and by nonprofit foundations acting solely for the support of institutions governed by the state board of regents.88 Acts, ch 1268, §11; 2003 Acts, 1st Ex, ch 1, §97, 133[2003 Acts, 1st Ex, ch 1, §97, 133 amendments to this section rescinded pursuant to Rants v. Vilsack, 684 N.W.2d 193]2005 Acts, ch 150, §32; 2011 Acts, ch 118, §85, 89262B.4Repealed by 2005 Acts, ch 150, §33. 262B.5Repealed by 2005 Acts, ch 150, §33. 262B.6Reserved.262B.7Reserved.262B.8Reserved.262B.9Reserved.262B.10Reserved.262B.11Reserved.262B.12Appropriation.Repealed by 2005 Acts, ch 150, §33. 262B.13Reserved.262B.14Reserved.262B.15Reserved.262B.16Reserved.262B.17Reserved.262B.18Reserved.262B.19Reserved.262B.20Reserved.IIRESEARCH AND DEVELOPMENTPLATFORMS262B.21Research and development platforms.1For purposes of this section and section 262B.23, “core platform areas” means the areas of advanced manufacturing, biosciences, information solutions, and financial services.2The state board of regents shall do all of the following:aRecruit employees, build capacity, and invest moneys to ensure rapid scientific progress in the core platform areas.bCreate endowed chair positions and employ persons with entrepreneurial expertise.cInvest in technology development infrastructure to strengthen and accelerate the scientific and commercialization work in the core platform areas.dProvide financial assistance in the form of grants for purposes of accelerating the transformation of new and ongoing research and development initiatives in the core platform areas into commercial opportunities.eActively participate in advisory groups dedicated to the areas of bioscience advanced manufacturing, and information solutions.2006 Acts, ch 1179, §48; 2007 Acts, ch 122, §5262B.22Technology and commercialization resource organization.Repealed by 2007 Acts, ch 122, §6. 262B.23Endowed chairs and salaries.The state board of regents may use for salaries and may create endowed chair positions at each of the regents universities using, in part, moneys appropriated to the state board of regents for purposes of implementing recommendations provided in separate consultant reports on bioscience, advanced manufacturing, and information technology submitted to the department of economic development in the calendar years 2004 and 2005. Such moneys may only be used to partially fund an endowed chair position if significant private contributions and contributions from governmental entities other than the state and political subdivisions of the state are used to fund the position. Not more than fifty percent of the cost of funding an endowed chair position shall be paid with such moneys. The endowed chair positions shall be used to attract scholars recruited nationally and internationally who can bring with them related start-up business ventures or a concept for near-term commercialization.2006 Acts, ch 1179, §50