OSU Venture Fund Overview
“Oregon’s university venture development fund will help transform today’s research and development into tomorrow’s businesses, ensuring that new and nascent technologies emerging from university laboratories will have a better chance than ever to become commercially viable.” http://www.ous.edu/about/campcent/uvdf.php.
In 2005 the Oregon State Legislature passed an innovative bill that provides an unprecedented tax incentive for donors who choose to support commercialization of promising university discoveries and campus-based entrepreneurial education by contributing to university venture development funds at the seven Oregon University System (OUS) campuses and Oregon Health & Science University (OHSU). This legislation was finalized in 2007 with passage of SB 582.
The purposes of a university venture development fund are to provide:
- Capital for university entrepreneurial programs
- Opportunities for students to gain experience in applying research to commercial activities
- Proof-of-concept funding for transforming research and development concepts into commercially viable products and services
- Entrepreneurial opportunities for persons interested in transforming research into viable, commercial ventures that create jobs in this state
The legislature has authorized state-supported universities to receive a total of $14 million in tax credit eligible donations for university venture development funds. Within the OUS, each university’s share of this total is based on a number of variables, including the size of its research enterprise.
Allocation of private funds able to be raised by each Institution:
Oregon State University $5.35M
Oregon Health Sciences University $4M
University of Oregon $3.27M
Portland State University $880K
Oregon Institute of Technology $125K
Western Oregon University $125K
Southern Oregon University $125K
Eastern Oregon University $125K