Zwicker Bills to Ensure Academic Institutions Technology Transfer Ability, Boosting New Jersey Innovation Ecosystem Clear Assembly Panel

Zwicker Bills to Ensure Academic Institutions Technology Transfer Ability, Boosting New Jersey Innovation Ecosystem Clear Assembly Panel

Assembly Science, Technology and Innovation Committee Also Heard from Invited Guests on Tech Transfer in Regards to Academic Institutions

 

(TRENTON) – Technology transfer or “tech transfer” is the process by which discoveries, inventions, and innovations are transformed into products and manufactured. For New Jersey’s universities and research institutions, the ability to share new ideas with the world also requires protecting their intellectual property, which is the key role of tech transfer.

Legislation allowing for the State’s academic institutions and universities to enter into contracts to bring a new discoveries, innovations, or inventions to the marketplace, sponsored by Assemblyman Andrew Zwicker (D- Somerset, Mercer, Middlesex, Hunterdon), was approved by the Assembly Science, Technology and Innovation Committee on Wednesday.

The committee also heard testimony from guests on technology transfer from academic institutions to the private sector, why it is crucial to New Jersey’s innovation ecosystem, and how the State can support this research, development, and commercialization process.

“New Jersey academic institutions have greatly contributed to the advancement of medical science, technology, and industry through their research, and inventions over the years,” said Zwicker. “Reclaiming our role as a leader of innovation requires these institutions to have the ability to protect their intellectual property and explore options that will deliver their discoveries to the commercial market.”

One measure (A-5449) approved by the committee would amend the “New Jersey Conflicts of Interest” statutes that permit a State officer or employee to enter into a contract with a State agency for the development of scientific or technological discoveries if the State agency has a property right in its discovery or innovation. It would also remove the condition that the State agency has a property right in the discovery or innovation and allow for the use of this provision for contracts in which State agencies do not have a property right.

A second measure (A-5592) would expand the duties of the New Jersey Commission on Science, Innovation, and Technology to collaborate with technology transfer professionals at academic institutions. The partnership would require assisting in transferring research and development knowledge developed at academic institutions to the private sector, with an emphasis on start-ups, for further development and commercialization.

“Allowing technology transfers to proceed and bringing the members of the New Jersey Commission on Science, Innovation, and Technology will support our State’s Innovation Ecosystem and regain our position as the birthplace of innovative ideas,” said Zwicker.

Both bills will now go to the Assembly Speaker for further consideration.

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