“Oregon’s university venture development fund will help transform today’s research and development into tomorrow’s businesses, ensuring that new and nascent technologies emerging from university laboratories will have a better chance than ever to become commercially viable.” http://www.ous.edu/about/campcent/uvdf.php.

In 2005 the Oregon State Legislature passed an innovative bill that provides an unprecedented tax incentive for donors who choose to support commercialization of promising university discoveries and campus-based entrepreneurial education by contributing to university venture development funds at the seven Oregon University System (OUS) campuses and Oregon Health & Science University (OHSU). This legislation was finalized in 2007 with passage of SB 582.

 

The purposes of a university venture development fund are to provide:

  • Capital for university entrepreneurial programs
  • Opportunities for students to gain experience in applying research to commercial activities
  • Proof-of-concept funding for transforming research and development concepts into commercially viable products and services
  • Entrepreneurial opportunities for persons interested in transforming research into viable, commercial ventures that create jobs in this state

The legislature has authorized state-supported universities to receive a total of $14 million in tax credit eligible donations for university venture development funds. Within the OUS, each university’s share of this total is based on a number of variables, including the size of its research enterprise.

 

Allocation of private funds able to be raised by each Institution:

 

Oregon State University                       $5.35M

Oregon Health Sciences University    $4M

University of Oregon                             $3.27M

Portland State University                      $880K

Oregon Institute of Technology          $125K

Western Oregon University                 $125K

Southern Oregon University                $125K

Eastern Oregon University                   $125K