9.The commission shall: a. Be responsible for the development and oversight of policies and programs in science, innovation, and technology for New Jersey; b. Ensure that the programs in science, innovation, and technology are adequately funded to achieve their stated goals; c. Stimulate academic-industrial collaboration through such mechanisms as advanced technology centers, innovation partnership grants, business incubation facilities, and technology extension services; d. Plan and assist in the establishment of new advanced technology centers, business incubation facilities, and technology extension services and adopt rules and regulations regarding the operation of these activities; e. Coordinate activities of the advanced technology centers, business incubation facilities, and techno
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9. The commission shall: a. Be responsible for the development and oversight of policies and programs in science, innovation, and technology for New Jersey; b. Ensure that the programs in science, innovation, and technology are adequately funded to achieve their stated goals; c. Stimulate academic-industrial collaboration through such mechanisms as advanced technology centers, innovation partnership grants, business incubation facilities, and technology extension services; d. Plan and assist in the establishment of new advanced technology centers, business incubation facilities, and technology extension services and adopt rules and regulations regarding the operation of these activities; e. Coordinate activities of the advanced technology centers, business incubation facilities, and technology extension services in conjunction with designated public and private institutions of higher education; f. Recommend funding levels, determine eligible fields, and supervise the process of making awards for innovation partnership grants; g. Continue to identify and to support research opportunities at New Jersey academic institutions and other institutions that can advance economic development and employment; h. Encourage and coordinate activities to help entrepreneurs and inventors; i. Appoint an Innovation Council from the membership of the commission, as the commission deems appropriate, which shall determine how to stimulate technology transfer between public and private institutions of higher education in this State and industry, including the transfer of information available from various federal agencies, and report, pursuant to subsection b. of section 10 of P.L.1985, c.102 (C.52:9X-10), on how this State can better achieve this effort; j. Appoint a peer review committee, where warranted, for each of the fields of technology, drawn from the academic, scientific, and industrial communities to review all situations involving either competitive applications for agency support or judgments on complex scientific, innovation, or technological matters with the stipulation that neither reviewers nor their affiliated institutions shall be eligible as applicants; k. Monitor changes in national and international economic conditions which might justify a recommendation of a reorientation of the State's science, innovation, and technology programs; l. Identify and support future fields of science, innovation, and technology in New Jersey that offer potential for application or commercialization, or both, in New Jersey and help to find funding sources; m. Adopt rules and regulations pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.) to effectuate the provisions of P.L.1985, c.102 (C.52:9X-1 et seq.), consistent with the rules and regulations of the Secretary of Higher Education; n. Adopt, amend, and repeal bylaws for the regulation of its affairs and the conduct of its business; o. Adopt and have a seal and alter the same at its pleasure; p. Have the authority to sue and be sued; q. Have the authority to conduct meetings and public hearings in connection with the purposes of P.L.1985, c.102 (C.52:9X-1 et seq.); r. Have the authority to enter into contracts, public and private, with a person upon those terms and conditions as the commission determines to be reasonable and to effectuate the purposes of P.L.1985, c.102 (C.52:9X-1 et seq.); s. Employ consultants and specialists in science, innovation, and technology and any other employees as may be required in the judgment of the commission to effectuate the purposes of P.L.1985, c.102 (C.52:9X-1 et seq.), and to fix and pay their compensation from funds available therefor, all without regard to the provisions of Title 11A of the New Jersey Statutes; t. Receive and disburse funds from non-State sources including but not limited to federal funds; u. Have the authority to receive a percentage of royalty payments from any intangible property, as that term is defined in section 5 of P.L.2002, c.40 (C.54:10A-4.4), awarded to any science, innovation, and technology company that received assistance from the commission and which assistance led to the awarding of the intangible property, as appropriate, except that three-fourths of the amount of any royalty payments received by the commission shall be remitted to the State Treasurer for deposit in the General Fund pursuant to an agreement with the State Treasurer; v. Have the authority to do any and all things necessary or convenient to carry out its purposes and exercise the powers granted in P.L.1985, c.102 (C.52:9X-1 et seq.); and w. Collaborate with technology transfer professionals at public and private institutions of higher education to assist in transferring technology and research knowledge developed at public and private institutions of higher education to the private sector, with an emphasis on start-ups, for the purpose of further development and commercialization, which may include, but not be limited to, organizing events to showcase early-stage technologies and research. L.1985, c.102, s.9; amended 2005, c.272, s.1; 2018, c.91, s.10; 2023, c.204, s.2.