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A bill that would join forces between Oregon State University and the University of Oregon -- and the cities around them -- to help create private companies based on research at the two universities has passed the Oregon Legislature.

Senate Bill 241, which creates a new South Willamette Valley Regional Accelerator and Innovation Network, or RAIN, and approves funding in the amount of $3.75 million, is expected to be signed by Gov. John Kitzhaber.

To read the original article: Legislature OKs bill to aid university spin-off ventures