The Subcommittee on Technology and Innovation today held a hearing to learn about different approaches universities and nonprofits are taking to transfer the results of federally-funded research. Passed in 1980, the Bayh-Dole Act was designed to improve collaboration between commercial concerns and nonprofit organizations, including universities, in addition to promoting the utilization of inventions arising from federally supported research and development.
"The transfer of knowledge from universities into the marketplace can have profound economic and societal impacts, so we are always looking for more ways to encourage this process," said the Subcommittee's Vice Chairman, Rep. Judy Biggert (R-IL). "The collaborative efforts encouraged under the Bayh-Dole Act have brought about the commercialization of many new technological advances that impact the lives of millions of people across the nation."
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