The Transfer Act of 2013 (H.R. 2981) is a Bill to specifically award grants to technology transfer programs at universities, research institutes and national laboratories. If approved, the Transfer Act would provide $50,000 grants, on average.

US congress has introduced a Bill to help scientists commercialize their ideas and supported by the main universities and their technology transfer organisation.

The Transfer Act of 2013 (H.R. 2981) is a Bill to specifically award grants to technology transfer programs at universities, research institutes and national laboratories. If approved, the Transfer Act would provide $50,000 grants, on average.

The House science, space, and technology committee recently held a hearing to discuss this legislation and will soon begin consideration for its passage. This bipartisan bill is being co-sponsored by Chris Collins (pictured), congressman for NY-27 and a member of the science, space and technology committee, and Derek Kilmer, a congressman of Washington, and has the backing of committee chairman Lamar Smith of Texas and ranking member Eddie Bernice Johnson, also of Texas.

Collins announced the Bill at the University at Buffalo’s (UB) Clinical and Translational Research Center and said: “One of the most effective ways we can spur economic growth is to assist some of the country’s smartest minds in turning their good ideas into a commercial success.

“In 2012, the federal government funded more than $131bn in research and development activities. More than half of all basic research conducted at our nation’s colleges and universities is funded by the federal government.

“Grants aimed at helping take ideas to the marketplace will help American taxpayers realize a greater return on their investments, and improve the competitiveness of the American economy.”

This bill has the support of the American Council on Education, the American Energy Innovation Council, the Association of American Medical Colleges, the Association of American Universities, the Association of Independent Research Institutes, the Association of Public and Land-grant Universities, the Association of University Technology Managers (AUTM), Battelle, and SRI International.

Sean Flanigan, AUTM president since March and assistant director of technology partnerships for University of Ottawa, said the association was supportive of the legislation but feared that despite the bipartisan support not many Bills were passing through Congress.

Robert Genco, vice provost and director of UB’s Office of Science, Technology Transfer and Economic Outreach, added: “UB faculty members are more entrepreneurial than ever but moving promising research out of the lab and into the marketplace requires dedicated resources. The Transfer Act would provide exactly the kind of assistance that our faculty inventors need.”