Congressman Collins visits RIT’s Venture Creations

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Greg Livadas

Rep. Chris Collins at Venture Creations Friday, flanked by officials from RIT.

U.S. Rep. Chris Collins (R-Amherst) visited RIT’s Venture Creations Friday to talk about the TRANSFER Act of 2013, a bipartisan bill he proposed that will help colleges, universities, research institutes and national laboratories transfer their innovative ideas and research to startup companies.

“One of the most effective ways we can spur economic growth is to assist some of the country’s smartest minds in turning their good ideas into commercial success,” Collins said. “Scientists often need a funding boost to take the initial steps to see if their invention or concept has the potential to be commercialized. Without this critical legwork, a scientist is often unable to partner with a business or an investor to take their idea to the next level.”

The TRANSFER ACT would provide, on average, $50,000 grants and up to $1 million for second-phase funding.

“We are tremendously exited to hear about the new bipartisan bill being introduced by Congressman Collins,” said Ryne Raffaelle, RIT’s vice president for research and associate vice provost. “We at RIT take great pride in the support we provide to small businesses. This new bill would most certainly enhance our ability to help deliver the innovative advances that support our local entrepreneurs and have become the hallmark of our upstate economy.”