Small businesses often do not have the resources to harness expertise in research and development. Meanwhile, scientific, technological and other research facilities are often looking for new projects. Funding the linkage between these two groups would lead to new opportunities for economic growth.
What was the problem?
What is the solution?
Assemblymember Buchwald is proposing to issue “Innovation Vouchers” to small businesses to acquire expertise from universities, national laboratories, or public research institutes. The goal of the program would be to connect research facilities to small businesses, helping create jobs and spur innovation. As of January 11, 2017, Assembly Member Buchwald introduced an act to amend the urban development corporation act, in relation to establishing the New York state innovation voucher program. “There is hereby established a New York State innovation voucher program under the purview of the Empire State New York State innovation voucher program under the purview of the Empire State Development Corporation. Such program
shall provide small businesses with access to research and development by colleges and universities, government laboratories and public research institutes in order to assist such businesses in the creation of innovative products or services that provide job retention and expansion.”