A bill that will unify the tech transfer efforts of Oregon State University and the University of Oregon with $3.75m backing passes the Oregon Legislature.
Oregon State University (OSU) and the University of Oregon will join forces to spin-out research into new companies with help of a US legislature-backed innovation network and $3.75m.
The bill, Senate Bill 241, will see the creation of the South Willamette Valley Regional Accelerator and Innovation Network (RAIN), which will have $3.75m in funding. RAIN will be used to support tech transfer efforts of both universities with mentoring, investment identification, and two new acceleration facilities.
US Senator Lee Beyer, who worked on the bill, said: “OSU and the University of Oregon have a combined, 10-year track record of creating more than 45 spinout companies and 600 jobs. We think that’s just a fraction of the potential, and the RAIN initiative will ultimately have a significant impact on the Oregon economy.”
