Summary as Introduced:

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Be it enacted by the General Assembly of Virginia:

1.  That the Code of Virginia is amended by adding a section numbered 2.2-2221.3 as follows:

§ 2.2-2221.3. Commonwealth Innovation and Entrepreneurship Measurement System.

The Authority shall develop the Commonwealth Innovation and Entrepreneurship Measurement System (the System). The System shall be a comprehensive online tracking tool to measure activities worthy of economic development and institutional focus and through which to encourage collaboration among the Commonwealth's institutions of higher education, private sector industries, and economic development entities, focusing on the research, development, and commercialization of innovative and entrepreneurial activity within the Commonwealth in furtherance of the Commonwealth Research and Development Strategic Roadmap. In developing the System, the Authority shall:

1. Solicit feedback from the Research and Technology Investment Advisory Committee; public and private institutions of higher education in the Commonwealth; executive branch agencies of the Commonwealth including, but not limited to, the Virginia Economic Development Partnership Authority, the Department of Business Assistance, and the Department of Minority Business Enterprise; federal research and development assets in the Commonwealth including, but not limited to, NASA Langley Research Center, the Naval Surface Warfare Center Dahlgren Division, and the Thomas Jefferson National Accelerator Facility (Jefferson Lab); regional technology councils in the Commonwealth; and the private sector;

2. Establish a process to integrate the Strategic Roadmap regarding the alignment of research and development and economic growth in the Commonwealth; and

3. Establish a process for maintaining an inventory of the Commonwealth's current research and development endeavors in both the public and private sector that can be used to attract and attain research and commercialization excellence in the Commonwealth.

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