2019 Oregon Revised Statutes
Volume : 07 - Public Facilities and Finance
Chapter 284 - Organizations for Economic Development
Section 284.711 - Duty to advise; distribution of moneys; fees.
(1) The Oregon Innovation Council shall provide advice to the Governor, the Legislative Assembly, research institutions, public agencies that support economic development and the private sector on issues related to:
(a) Promoting the commercialization of research from the private sector, universities and colleges, including investments in signature research centers where Oregon has a distinct or emerging advantage;
(b) Stimulating seed and start-up capital investment and entrepreneurial capacity that will promote economic growth in Oregon traded sector industries or Oregon growth businesses; and
(c) Developing the entrepreneurial and management capacity critical to the competitiveness of Oregon traded sector industries or Oregon growth businesses in rapidly growing global markets.
(2) The council, the Oregon Business Development Commission, the Higher Education Coordinating Commission and the office of the State Treasurer shall coordinate policies and programs related to the duties of the council.
(3) Based on the state plan developed under ORS 284.715, on grants, loans and equity investments made under ORS 284.742 and on other relevant data and information, and subject to the approval of the Oregon Business Development Department, the council may distribute moneys in the Oregon Innovation Fund by grant, loan or equity investment or pursuant to contracts with research institutions, the private sector and public entities.
(4) The council may assess and charge fees for making grants, loans or equity investments under ORS 284.742. [2005 c.748 §4; 2011 c.610 §3; 2015 c.196 §2; 2015 c.682 §8; 2015 c.767 §86; 2019 c.131 §3]
