News
Gillibrand announces new jobs bill
Sen. Kirsten Gillibrand, third from right, tours the CTRC with, from left, Jean Wactawski-Wende, James Kaskie, President Satish K. Tripathi, Tim Murphy and Alex Cartwright. Photo: NANCY J. PARISI
After touring UB’s Clinical and Translational Research Center yesterday, U.S. Sen. Kirsten Gillibrand announced she is introducing legislation to spur the growth of new science and technology jobs in Western New York and across the country.
The America Innovates Act would help scientists and researchers secure valuable resources and training to turn new discoveries into marketable products, new high-tech companies and jobs.
Gillibrand was joined at the announcement by President Satish Tripathi, CTRC Timothy Murphy and Assemblywoman Crystal Peoples-Stokes.
“New York is home to some of the world’s brightest minds and best ideas to grow our economy,” Gillibrand said. “This common-sense legislation will help develop scientific breakthroughs into cutting-edge businesses and new jobs. Providing our scientists and students with practical business skills will go a long way toward creating high-tech industries and building the next generation of innovative leaders. This is the future of our economy, and we need to make sure it starts right here in Western New York.”
Tripathi noted that Gillibrand recognizes that the success of the CTRC and of the entire Buffalo Niagara Medical Campus “hinges on robust funding for the kind of scientific investments that can transform Western New York into a world leader in health care discovery and delivery. This legislation would bolster our efforts and help to drive a knowledge-based economy in the Buffalo-Niagara region, and we thank the senator for her efforts,” he said.
There often are few resources available to help university researchers across the countrytranslate their scientific discoveries into marketable products and companies. Many scientists also do not receive the training needed to launch their theoretical breakthroughs into commercial, entrepreneurial successes, causing a gap between scientific research and useful products for people, new businesses and jobs. Critical discoveries, such as the laser beam, took years to develop into part of an everyday product like the barcode scanner.
The America Innovates Act would spur the growth of high-tech jobs in Western New York and across the nation by making capital available for innovators and by training students to turn their discoveries into products, companies and jobs. The bill would create an “American Innovation Bank” to help universities and other research institutions establish and grow the development and commercialization of initial discoveries, making potential products more attractive to state, local and private investment.
Under this funding stream, universities would be able to create or strengthen their “proof-of-concept” funds, aimed at helping researchers prove their research can be practically and concretely used. Once research is proved practically, investors are much more likely interested in risking capital on its commercialization, thereby increasing the chances the idea will turn into a new business or create new jobs at an existing company.
Universities would be able to use grants to hire additional staff for specific experiments, purchase testing equipment, test products in an industrial setting, clinical development, access expert advice in business strategy, and patent and regulatory laws. Funds also could be used to build business incubators or other facilities that would support researchers.
To help build the next generation of innovative leaders, this legislation also would provide business training for graduate students in science, training students in intellectual property protection, commercialization and product development. Under this bill, existing scientific student programs, such as UB’s Ecosystem Restoration through Interdisciplinary Exchange (ERIE) initiative that is focused on the science, engineering and policy of ecosystem restoration of the Great Lakes and Western New York, would be expanded to allow students to advance new scientific discoveries and technologies for commercialization. Universities also would be encouraged to develop professional science masters programs and graduate degrees to provide students with the skills they need to pursue careers in industry.
UB has a long track record in research collaboration with industry and fostering the exchange of ideas across various disciplines and schools. At the CTRC, UB physician-scientists conduct research upstairs in the UB facility and to see patients and work with clinicians downstairs in Kaleida Health’s Gates Vascular Institute and at Buffalo General Medical Center and Roswell Park Cancer Institute.
The CTRC provides comprehensive support to investigators performing clinical research and also is home to a biosciences incubator that will facilitate new startup companies as spinoffs from research discoveries involving UB investigators or their intellectual property.
Reader Comments