§ 3102 — Powers and duties of the corporation

New York § 3102

• Jurisdiction: New York
• Law PBA: Public Authorities
• Title 1: New York State Science and Technology Foundation
• Art. 10-A: New York State Science and Technology

Text

§ 3102. Powers and duties of the corporation. In furtherance of the\npurposes set forth in this article, the corporation shall have the\nfollowing powers and duties:\n 1. To foster and support scientific and technological research,\ndevelopment and education in the state, through contracts or other\nappropriate means, in cooperation with the federal government, the state\ngovernment and the political subdivisions thereof, educational\ninstitutions, non-profit institutions and organizations, business\nenterprise and other persons concerned with scientific and technological\nresearch, development and education in the state.\n 2. To sponsor and conduct conferences and studies, collect and\ndisseminate information, and issue periodic reports relating to\nscientific and technological research, development and education in the\nstate.\n 3. To prepare and periodically issue a register of scientific and\ntechnological research facilities in the state.\n 3-a. To establish and keep current, a roster of New York based small\nhigh technology firms.\n 4. To seek, receive, hold, invest, reinvest and use, on behalf of the\ncorporation and for any of its purposes, real property, personal\nproperty and moneys, or any interest therein, and the income therefrom,\neither absolutely or in trust. The board of directors, without regard to\nthe limitations of section eleven of the state finance law relating to\ngifts but with the concurrence of the director of the budget, may\nacquire such property or moneys for such purpose by the acceptance of\ngifts, grants, including matching grants, appropriations, bequests or\ndevises from any source, including but not limited to the federal and\nstate governments and agencies.\n 5. To review the technological development potential of various\nregions of the state and to cooperate with and make recommendations to\nthe legislature, state agencies, local governments, local technology\ndevelopment agencies, the federal government, private businesses and\nindividuals for the realization of such development potential.\n 6. To recommend to the state agencies, local governments, the\ngovernor, and the legislature policies and programs essential to the\nadvancement of science and technology oriented industry and applied\nresearch in New York state and to the promotion of technological\ninnovation in industries of all types in New York state.\n 7. To assist small and emerging science and technology oriented\nbusinesses and inventors in applying for federal research grants and\nstate or federal procurement contracts including dissemination of\ninformation on the availability of such grants and contracts.\n 8. To collect and disseminate information on financial, technical,\nmarketing, management and other services available to small and emerging\nscience and technology oriented businesses on a free or for hire basis\nfrom universities, private for-profit businesses, and non-profit\norganizations.\n 8-a. To assist in the export promotion and marketing of high\ntechnology goods or services, in cooperation with the department of\neconomic development.\n 9. To identify emerging technologies which provide significant promise\nfor the development of job-creating businesses and to disseminate\nrelevant information on individuals and businesses involved in such\nareas to the job development authority, the job incentive board, the\nlegislative commission on science and technology, local technology\ndevelopment agencies, local industrial development authorities, and\nother state, local and non-profit agencies and organizations responsible\nfor economic development.\n 10. To establish a focal point for the dissemination of information\nregarding inventions for the benefit of inventors interested in having\ntheir ideas developed and commercialized and for entrepreneurs\ninterested in the commercialization of new products and processes.\n 11. To encourage and facilitate communication among inventors, banks,\nventure capitalists and other sources of debt and equity capital,\nentrepreneurs, and technical, legal, marketing and managerial experts\nfor the purpose of facilitating the growth and development in this state\nof business enterprises involved in the development and fabrication of\nnew commercial products.\n 12. To identify potential sources of debt and equity capital for small\nand emerging science and technology oriented businesses and to provide\nsuch information to such businesses upon request.\n 13. To make its services and activities known to the public at large.\n 14. To sue and be sued in the name of the corporation, process in any\naction or proceeding may be served upon the secretary of state, as agent\nfor the corporation, in the manner provided by section three hundred six\nof the business corporation law.\n 15. To have and use a corporate seal.\n 16. To adopt rules and regulations, assisted by the commissioner of\neconomic development and in consultation with the department of economic\ndevelopment and in accordance with the state administrative procedure\nact. Such regulations shall be consistent with law, shall be consistent\nwith the program plan required by subdivision nineteen of section one\nhundred of the economic development law, and shall govern any matters\nrelating to the activities of the corporation.\n 17. To have and exercise all powers necessary or convenient to effect\nany or all of the purposes of the corporation.\n