Relating to entrepreneurial ecosystem development programs located outside Metro; declaring an emergency.
Catchline/Summary:
Modifies requirement that start-up businesses that may be assisted by regional collaboration facilitated by Oregon Business Development Department have as purpose commercialization of university-based or university-assisted academic activities and increasing number, and ensuring retention, of such businesses. Modifies requirement that start-up businesses that may be assisted by regional collaboration facilitated by Oregon Business Development Department have as purpose commercialization of university-based or university-assisted research] academic activities and increasing number, and ensuring retention, of such businesses.
Appropriates moneys to Oregon Business Development Department for direct distribution pro rata to Oregon State University Advantage Accelerator (OSU Advantage) and Regional Accelerator & Innovation Network (RAIN Eugene) and requires equal match. Provides that start-up businesses assisted with appropriated moneys must be traded sector businesses or businesses with traded sector potential, with stated exceptions.
Requires OSU Advantage and RAIN Eugene each to submit report to interim legislative committees related to economic development on or before September 15, 2020, setting forth specified metrics related to their assistance to start-up businesses.
Declares emergency, effective on passage.
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SB 418 Joint Committee On Ways and Means
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