N.Y. Pub. Auth. Law § 3102

Current through 2024 NY Law Chapter 553

Section 3102 - Powers and duties of the corporation

In furtherance of the purposes set forth in this article, the corporation shall have the following powers and duties:

1. To foster and support scientific and technological research, development and education in the state, through contracts or other appropriate means, in cooperation with the federal government, the state government and the political subdivisions thereof, educational institutions, non-profit institutions and organizations, business enterprise and other persons concerned with scientific and technological research, development and education in the state.

2. To sponsor and conduct conferences and studies, collect and disseminate information, and issue periodic reports relating to scientific and technological research, development and education in the state.

3. To prepare and periodically issue a register of scientific and technological research facilities in the state.

3-a. To establish and keep current, a roster of New York based small high technology firms.

4. To seek, receive, hold, invest, reinvest and use, on behalf of the corporation and for any of its purposes, real property, personal property and moneys, or any interest therein, and the income therefrom, either absolutely or in trust. The board of directors, without regard to the limitations of section eleven of the state finance law relating to gifts but with the concurrence of the director of the budget, may acquire such property or moneys for such purpose by the acceptance of gifts, grants, including matching grants, appropriations, bequests or devises from any source, including but not limited to the federal and state governments and agencies.

5. To review the technological development potential of various regions of the state and to cooperate with and make recommendations to the legislature, state agencies, local governments, local technology development agencies, the federal government, private businesses and individuals for the realization of such development potential.

6. To recommend to the state agencies, local governments, the governor, and the legislature policies and programs essential to the advancement of science and technology oriented industry and applied research in New York state and to the promotion of technological innovation in industries of all types in New York state.

7. To assist small and emerging science and technology oriented businesses and inventors in applying for federal research grants and state or federal procurement contracts including dissemination of information on the availability of such grants and contracts.

8. To collect and disseminate information on financial, technical, marketing, management and other services available to small and emerging science and technology oriented businesses on a free or for hire basis from universities, private for-profit businesses, and non-profit organizations.

8-a. To assist in the export promotion and marketing of high technology goods or services, in cooperation with the department of economic development.

9. To identify emerging technologies which provide significant promise for the development of job-creating businesses and to disseminate relevant information on individuals and businesses involved in such areas to the job development authority, the job incentive board, the legislative commission on science and technology, local technology development agencies, local industrial development authorities, and other state, local and non-profit agencies and organizations responsible for economic development.

10. To establish a focal point for the dissemination of information regarding inventions for the benefit of inventors interested in having their ideas developed and commercialized and for entrepreneurs interested in the commercialization of new products and processes.

11. To encourage and facilitate communication among inventors, banks, venture capitalists and other sources of debt and equity capital, entrepreneurs, and technical, legal, marketing and managerial experts for the purpose of facilitating the growth and development in this state of business enterprises involved in the development and fabrication of new commercial products.

12. To identify potential sources of debt and equity capital for small and emerging science and technology oriented businesses and to provide such information to such businesses upon request.

13. To make its services and activities known to the public at large.

14. To sue and be sued in the name of the corporation, process in any action or proceeding may be served upon the secretary of state, as agent for the corporation, in the manner provided by section three hundred six of the business corporation law.

15. To have and use a corporate seal.

16. To adopt rules and regulations, assisted by the commissioner of economic development and in consultation with the department of economic development and in accordance with the state administrative procedure act. Such regulations shall be consistent with law, shall be consistent with the program plan required by subdivision nineteen of section one hundred of the economic development law, and shall govern any matters relating to the activities of the corporation.

17. To have and exercise all powers necessary or convenient to effect any or all of the purposes of the corporation.

N.Y. Pub. Auth. Law § 3102