New York Laws
Title 1 - New York State Science and Technology Foundation
3102 - Powers and Duties of the Corporation.

§ 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.