SENATE RESOLUTION NO. 18

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

Recognizing the value and importance of the state's innovation industry on Innovation & Entrepreneurship Day at the Capitol.

            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 is 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 & Entrepreneurship Day hosted by Industries of the Future–West Virginia and TechConnect WV; therefore, be it

            Resolved by the Senate:

            That the Senate hereby recognizes the value and importance of the state's innovation industry on Innovation & Entrepreneurship Day at the Capitol; 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 Senate expresses its strong support for continued research and development advancements and applauds the collaborative efforts that are demonstrated by the organizations, agencies and companies that are supporting Innovation & Entrepreneurship Day at the Capitol; and, be it

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