January 31, 2012

(Denver) – A major component of the House Democrats’ 2012 jobs package advanced today when the Tech Transfer bill sponsored by Rep. Dave Young and Minority Leader Mark Ferrandino was approved by the House Economic & Business Development Committee.

The panel voted 7-5 to send the bill to the Appropriations Committee.

The Tech Transfer bill would provide grants of up to $750,000 to speed the movement of technologies developed at the state’s universities and research centers out of the lab and into the marketplace. Priority would be given to projects in Colorado.

“There’s no doubt the bill will create plenty of new jobs right here in Colorado,” Rep. Young told the committee.

“This is a program that works,” Rep. Ferrandino said. “There is no downside to this bill.”

Steve Foster, president and CEO of the Colorado Technology Association, told the committee that the bill would show investors, who focus on the East and West Coasts, that Colorado is serious about bringing technology to market.

“Leadership is what impresses venture capital to come here,” he said. “What we’re showing here is leadership.”

The technology transfer offices of the University of Colorado, Colorado State University and the Colorado School of Mines also testified in support of the bill.

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