Saturday, November 26, 2022

Innovation Centers Get Committee Nod

JobCreatorA California Chamber of Commerce-supported job creator bill that promotes increased innovation and entrepreneurship won approval from the Senate Education Committee this week.

AB 2664 (Irwin; D-Thousand Oaks) makes it easier to establish a business by requiring the University of California (UC) and Berkeley National Laboratory to expand their capacity and increase access to their innovation and entrepreneurship centers.

The UC’s innovation and entrepreneurship centers provide incubator space, legal services, entrepreneurial training and more for researchers and other individuals looking to establish new businesses and develop innovative products and solutions that benefit Californians.

The centers have a proven track record for helping to turn ideas into companies that provide jobs for Californians and help drive the state’s economy.

AB 2664 will help the centers expand to keep up with the growing need for workspace and training for start-ups, and help attract private sector investors. In exchange, the state will benefit from increased economic activity and job growth, as well as from the innovative solutions new companies are able to bring to market due to the help they receive from the UC system.

AB 2664 passed Senate Education with unanimous support and will be considered next by the Senate Appropriations Committee.

Staff Contact: Marti Fisher

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