In addition to and among the other functions of the agency, a fund called the South Carolina Technology Innovation Fund will be established under the administration of the agency`s board of directors, which will receive the funding provided for by law. The Board of Directors enters into a contract with a tax-exempt organization pursuant to Section 501(c)(3) of the Internal Revenue Code of 1986, as amended from time to time, for the management of the Innovation Fund. The Innovation Fund is to be used by the Board to: Provide educational content on intellectual property and innovation to members of the Bar Association, including the opportunity to present or participate in events at the Law Society Congress and other CLEs. Support or collaboration with other committees and sections of the Bar. Connect with South Carolina individuals and businesses to raise awareness of intellectual property and innovation issues. One of the objectives is to reduce the loss of rights and prevent avoidable IP litigation due to lack of knowledge or appropriate decision-making. Work with other law societies and business organizations to provide content and speakers on IP and innovation. Connect committee members through networking events, conference calls, emails, and other media such as blogs. (1) Award small grants for the best and most creative ideas from South Carolina research university technology incubators with the prizes available to eligible students and innovative knowledge-based companies located in a research university incubator.
These grants are to be awarded to inspire and promote the transfer of knowledge-based technology and intellectual property from the faculty of the research university and students to the market. HISTORY: Act No. 187, Section 5 of 2004; Act No. 125 of 2005, section 1. Liaison: Courtney Troutman (803) 799-6653, position 183pmap@scbar.org Committee Chair: Douglas W. Kim (864) 973-6688doug@kimandlahey.com (2) design an extensive education, marketing and public relations program to ensure that South Carolina residents, members of the General Assembly and potential venture capitalists meet the requirements for participation in the Fund, the strategic need for venture capital funding and the Understanding and Supporting Grants Support for Deserving Entrepreneurs.
