March 23, 2011
REP. HADDAD CHAMPIONS AN INNOVATIVE ECONOMY
State Representative Gregory Haddad (D-Mansfield, Chaplin), Vice-chair of the Legislature’s Commerce Committee, said a number of bills approved by his committee will help create jobs and spur economic growth in high technology industries by encouraging and capitalizing on innovative research.
SB1171, which Haddad authored, aims to promote more collaboration between Connecticut’s research universities like UConn and hi-tech businesses. SB1172 would implement recommendations of the Connecticut Technology Council, which is charged with creating a joint research institute between the University of Connecticut and other colleges as well as enlisting support for the initiative from businesses.
“Creating business and academic partnerships is a critical part of any successful formula for encouraging sustained economic growth,” said Haddad. “Our research universities, like UConn and Yale, give us an extraordinary advantage as innovation is becoming more critical to our future economic well-being. We must take full advantage of their research capacity to develop new technologies that will be the foundation of a vibrant economy in Connecticut.”
Haddad said two other bills takes the concept a step further. SB1173 puts public university start-up companies on par with other businesses when seeking pre-seed funding from Connecticut Innovations Inc. (CII), a state economic development arm which invests in new hi-tech companies. And SB1174, would encourage development of technologies patented but unused by private businesses by engaging mentored student teams to develop plans to commercialization them.
“This is a very exciting concept that will take intellectual property that is being passed over by private companies and giving students an opportunity to see if the idea can be developed into a business. The experience gained by the students make them an important resource for innovative companies once they graduate,” said Haddad.
Finally, SB1175 would provide matching funds to small businesses receiving federal funds for innovation research. “This will help us better leverage funding that comes from Washington to our state, and frankly is a matter of putting our money where our mouth is,” Haddad said.
Haddad specifically thanked Commerce Committee Co-chairs Rep. Jeffrey Berger (D-Waterbury) and Sen. Gary LeBeau (D-East Hartford) for their support in helping to get this package of bills approved.