A Special Report from the NYS Assembly
Task Force on University-Industry Cooperation |
Sheldon Silver, Speaker William B. Magnarelli, Chair January 2004 |
Message from
the Chair This year marks my third legislative session as chair of the Task Force on University-Industry Cooperation. While we are all engaged in trying to make the most of a year with constrained fiscal resources, the Task Force has managed to press onward in its mission of solidifying and energizing the collaborative activities and ventures between businesses and the State’s institutions of higher education. Students in their years of undergraduate and graduate education, businesses seeking to expand their operations or retool for new projects, currently employed workers who need to hone their skills or learn new ones all benefit from cooperative relationships among industry and institutions of higher education. As the State continues to support high-tech research and development and as the programs in our two- and four-year colleges and universities continue to expand in content and thrive in reputation, I remain committed to doing my part in bringing these two sectors together so that they continue to work effectively for the benefit of all parties. I hope that this newsletter provides a good overview of the accomplishments and directions of the Task Force. As always, if you have any questions or particular concerns, I encourage you to contact me.
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The 36 community colleges of the SUNY and CUNY, located throughout New York, provide academic opportunities for their students, and economic development opportunities for the State. The two years spent at a community college yield substantial benefits — from the provision of the necessary academic and study skills necessary to succeed in a four-year institution to advanced technical skills necessary to obtain employment in ever-advancing high-tech fields. The wealth of the resources found on the State’s community college campuses is inestimable. The main purpose in holding the roundtable discussion was to determine whether there is an infrastructure in place that fosters community college-industry collaboration and to what degree and in what manner community colleges are involved closely with local businesses, either individually, in technology parks, or through industry associations. It was also important to ascertain the synergy that provides students with work experiences in high-tech product development and provides businesses with a bright, capable and highly motivated workforce-in-training. Invitees were asked to consider the following questions:
At the event the discussion mainly centered around three broad issues:
Resources
Marketing and Networking
Role of the Legislature
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Task Force Chairman Bill Magnarelli speaks with Syracuse University researchers at the 2003 UNYTECH Forum. |
During the conference the nine participating universities — Alfred University, Binghamton University, Cornell University, SUNY College of Environmental Science and Forestry, Rochester Institute of Technology, Syracuse University, State University of New York, University at Buffalo, and University of Rochester — showcased research initiatives and emerging technologies that will surely change the shape of our world. |
With our first-class university system and dynamic businesses, the economic development resources in this State are second to none. I will continue to use every resource at my disposal to make sure that these resources are developed to their fullest potential. |
Along with Speaker Silver and my colleagues, I am committed to supporting a high-tech research and development agenda, recognizing that the investment needs to be evaluated as the entities receiving these funds make progress in fulfilling their richly diverse roles. Accountability is crucial when making substantial contributions with taxpayer dollars and I am determined to maintain conscientious and thorough oversight of how our investments are being distributed and utilized. Oversight will be ongoing throughout the year and throughout the State so that we may be assured that State funds are fueling a dynamic and creative research and development culture that translates into practical and critical technologies. |
Technologies being developed at our research institutions often lead to new processes and products that can benefit the manufacturing industry. Innovations and new products developed in the lab that might reduce costs and enhance a company’s bottom line could turn things around for many businesses. What is needed is a clear, easily accessible bridge between the industry and the research institutions. Manufacturing companies have to be poised to take advantage of scientific and technological discoveries taking place in our dynamic research facilities, and I plan to utilize the resources of the Task Force to provide an environment where such a position can be achieved. |
Assemblyman Bill Magnarelli was the keynote speaker at the 2003 Universities of Upstate New York Venture Forum (UNYTECH) in Canandaigua, New York. Here, he discusses new technology with representatives from Infotonics Technology Center of Canandaigua. |
According to the PricewaterhouseCoopers/Venture Economics/National Venture Capital Association Money Tree Survey, New York has experienced a drastic decline in the amount of venture capital that once thrived in the State. During the last three years the State’s venture capital pool dropped from approximately $8 billion to almost $800 million dollars. Upstate’s rise and fall parallels the State’s (and nation’s) as a whole. While the total State investment peaked at almost $8 billion, upstate represented over $471 million in 2000 and a low point of only In general, funding for seed phase early-stage technology development is lagging, and in New York State this problem has been particularly acute. Over the past five years only 1-3% of venture capital investments were invested in start-up companies. During these uncertain economic conditions angel investors are especially reluctant to take risks. In addition to uncertainties in the economy, markets for allocating risk capital to seed phase early-stage technology ventures are notoriously inefficient. It is vital to encourage the formation of new companies that can subsequently compete for traditional venture capital investments, especially promising companies being formed as a result of State-supported university research.
To this end I was pleased to co-sponsor the “NYSEEDS” Tax Credit bill (A. 7910) which would encourage angel investors to direct their capital to established venture funds which focus on start-up New York companies. The tax credit would help angel investors maximize their investments, increase early stage capital and investments in new start-ups in the State, and stimulate the formation of desperately needed seed capital at the crucial, higher-risk, early phase of business development. The bill remained in Committee at the end of Session. |
Task Force Chair Bill Magnarelli at the 2003 UNYTECH Forum. |
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Assemblyman William B. Magnarelli, Chair Assembly Task Force on University-Industry Cooperation Room 519 LOB Albany, New York 12248 518.455.4826 333 East Washington St., Room 840 Syracuse, New York 13202 315.428.9651 |
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