New Jersey § 52:9x-9

§ 52:9x-9.

The commission shall: a. Be responsible for the development and oversight of policies and programs in science,

innovation, and technology for New Jersey; b. Ensure that the programs in science, innovation, and technology are adequately

funded to achieve their stated goals; c. Stimulate academic-industrial collaboration through such mechanisms as advanced

technology centers, innovation partnership grants, business incubation facilities,

and technology extension services; d. Plan and assist in the establishment of new advanced technology centers, business

incubation facilities, and technology extension services and adopt rules and regulations

regarding the operation of these activities; e. Coordinate activities of the advanced technology centers, business incubation facilities,

and technology extension services in conjunction with designated public and private

institutions of higher education; f. Recommend funding levels, determine eligible fields, and supervise the process

of making awards for innovation partnership grants; g. Continue to identify and to support research opportunities at New Jersey academic

institutions and other institutions that can advance economic development and employment; h. Encourage and coordinate activities to help entrepreneurs and inventors; i. Appoint an Innovation Council from the membership of the commission, as the commission

deems appropriate, which shall determine how to stimulate technology transfer between

public and private institutions of higher education in this State and industry, including the transfer

of information available from various federal agencies, and report, pursuant to subsection

b. of section 10 of P.L.1985, c. 102 ( C.52:9X-10 ), on how this State can better achieve this effort; j. Appoint a peer review committee, where warranted, for each of the fields of technology,

drawn from the academic, scientific, and industrial communities to review all situations

involving either competitive applications for agency support or judgments on complex

scientific, innovation, or technological matters with the stipulation that neither

reviewers nor their affiliated institutions shall be eligible as applicants; k. Monitor changes in national and international economic conditions which might justify

a recommendation of a reorientation of the State's science, innovation, and technology

programs; l . Identify and support future fields of science, innovation, and technology in New

Jersey that offer potential for application or commercialization, or both, in New

Jersey and help to find funding sources; m. Adopt rules and regulations pursuant to the “Administrative Procedure Act,” P.L.1968,

c. 410 ( C.52:14B-1 et seq. ) to effectuate the provisions of P.L.1985, c. 102 ( C.52:9X-1 et seq. ), consistent with the rules and regulations of the Secretary of Higher Education; n. Adopt, amend, and repeal bylaws for the regulation of its affairs and the conduct

of its business; o . Adopt and have a seal and alter the same at its pleasure; p. Have the authority to sue and be sued; q. Have the authority to conduct meetings and public hearings in connection with the

purposes of P.L.1985, c. 102 ( C.52:9X-1 et seq. ); r. Have the authority to enter into contracts, public and private, with a person upon

those terms and conditions as the commission determines to be reasonable and to effectuate

the purposes of P.L.1985, c. 102 ( C.52:9X-1 et seq. ); s. Employ consultants and specialists in science, innovation, and technology and any

other employees as may be required in the judgment of the commission to effectuate

the purposes of P.L.1985, c. 102 ( C.52:9X-1 et seq. ), and to fix and pay their compensation from funds available therefor, all without

regard to the provisions of Title 11A of the New Jersey Statutes; t. Receive and disburse funds from non-State sources including but not limited to

federal funds; u. Have the authority to receive a percentage of royalty payments from any intangible

property, as that term is defined in section 5 of P.L.2002, c. 40 ( C.54:10A-4.4 ), awarded to any science, innovation, and technology company that received assistance

from the commission and which assistance led to the awarding of the intangible property,

as appropriate, except that three-fourths of the amount of any royalty payments received

by the commission shall be remitted to the State Treasurer for deposit in the General

Fund pursuant to an agreement with the State Treasurer; v. Have the authority to do any and all things necessary or convenient to carry out

its purposes and exercise the powers granted in P.L.1985, c. 102 ( C.52:9X-1 et seq. ) ; and w. Collaborate with technology transfer professionals at public and private institutions

of higher education to assist in transferring technology and research knowledge developed

at public and private institutions of higher education to the private sector, with

an emphasis on start-ups, for the purpose of further development and commercialization,

which may include, but not be limited to, organizing events to showcase early-stage

technologies and research.