SENATE RESOLUTION 12

(By Senators Walters, Plymale, Stollings, Williams and Unger)

[Introduced January 27, 2016.]

Designating Wednesday, January 27, 2016, as Innovation and Entrepreneurship Day at the Legislature.

                Whereas, Research and innovation continue to be the bedrocks of America’s economic strength and vitality; and

                Whereas, Facilitating innovation-based economic development and the growth of entrepreneurial companies are critical to our state's future and prosperity; and

                Whereas, In 2013, West Virginia continued to make good progress toward a broader, more robust innovation economy; and

                Whereas, Entrepreneurs and small businesses create the vast majority of the new jobs in the United States; and

                Whereas, Research and development activities being done in federally funded, university and private laboratories in our state are important for new discoveries, scientific and engineering solutions and potential commercialization opportunities; and

                Whereas, Recent studies point to the need for states to nurture research and development activities, develop innovation assets and grow businesses to diversify their economies; and

                Whereas, A technology-based economic development study by the Battelle Technology Partnership Practice highlighted four key innovation clusters where West Virginia should focus its innovation efforts; and

                Whereas, These four key innovation clusters are advanced energy, chemicals/advanced materials, biometrics and identity management and biotechnology; and

                Whereas, Innovations in manufacturing, such as 3D printing, are opening new opportunities for West Virginia's small manufacturing firms to develop new products and processes to improve their bottom lines; and

                Whereas, There is growing interest in entrepreneurship across our state as business plan competitions are attracting record-setting numbers of applications and other groups are exploring ways to bring entrepreneurship education into the K-12 system; and

                Whereas, Improving access to risk capital is a critical need that is being addressed by existing and new public and private programs, such as the West Virginia Capital Access Program, the 1NNOVA Fund, the West Virginia Growth Investment, LLC and the Appalachian Community Capital; and

                Whereas, More than one hundred organizations, agencies and companies are working together to help advance the state's innovation and entrepreneurship potential and capacity; and

                Whereas, West Virginia has developed an integrated ecosystem of organizations, agencies and financial firms working collaboratively to spur innovation enterprises and jobs; and

                Whereas, Many of these innovation drivers are here at the Capitol today as part of the “Innovation and Entrepreneurship Day” hosted by Industries of the Future-West Virginia and TechConnect WV; therefore, be it

                Resolved by the Senate:

                That the Senate designate Wednesday, January 27, 2016, as Innovation and Entrepreneurship Day at the Legislature; and, be it

                Further Resolved, That the innovation industry is interested in realizing the long-term economic opportunities that an innovation-based economy can provide our state's citizens; and, be it

Further Resolved, That the Clerk is hereby directed to forward a copy of this resolution to the Industries of the Future-West Virginia and TechConnect WV.