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Abstract:
New tax credit will spur investment in commercialization of research, economic development

Universities to Launch Venture Development Fund

Portland, OR | Posted on October 1st, 2007

WHEN: Thursday, October 4 from 12:00 pm to 1:00 pm

WHERE: University Place, Portland State University, 312 S.W. Lincoln St., Portland

Link here for further directions: http://www.aux.pdx.edu/cegs/upl/map.php

WHAT: Public launch of Oregon's new University Venture Development Fund (UVDF) which provides new tax incentives in return for gifts supporting commercialization of promising university discoveries and campus-based entrepreneurial education at the state's eight public universities

WHO: Key speakers to include:

o David Chen, Chair, Oregon Innovation Council
o Randall Edwards, Oregon State Treasurer
o Senator Frank Morse, R-Corvallis
o Kirby Dyess, State Board of Higher Education
o Presidents of OUS and OHSU institutions

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INFO: Besides the above list of speakers, others available for interviews following a brief program include Rich Linton, chair of the OUS Research Council, representatives of OHSU and the seven OUS campuses, donors who are or will be investing, and about 50 business and government leaders.

Speakers will share news about implementation of the University Venture Development Fund, which is enhancing collaborative research efforts by Oregon's public universities. Gov. Ted Kulongoski signed the legislation (Senate Bills 582 and 853) into law earlier this year.

Key points include how this program is expected to stimulate Oregon's "innovation economy" and specifics about the 60 percent tax credit for donors, which is limited to the first $14 million in eligible gifts.