Bill > H1072

This bill establishes an "Innovation Commercialization Seed Fund" to provide initial investments, up to $50,000 per award and renewable twice, to researchers and students at the University of Massachusetts and other research universities. The fund's purpose is to help bring commercially viable inventions, concepts, goods, or services that haven't yet been commercialized to market, with a focus on job creation and encouraging student involvement in research and development. The "center," as defined in section 45 of Chapter 75 of the General Laws, will determine which projects qualify for funding, and at least 50% of the fund's money must be allocated to the University of Massachusetts. The fund can be used for activities like building prototypes, testing, and market research, and student-led projects are eligible if faculty members provide guidance. The center will also be required to report annually on the grants awarded to legislative committees.