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A 60 PERCENT income tax credit is now available to Oregon taxpayers who contribute to a new program designed to fast-track commercialization of research discoveries at Oregon's eight public universities.

"This tax credit is one of a kind," said Oregon State Treasurer Randall Edwards at the unveiling of the University Venture Development Fund on the PSU campus in October. "No other state has a program where donors can receive such a large tax credit in return for helping move research from lab to market."

"The fund will support the difficult early stages of a new venture, often referred to as the 'valley of death,' because so many promising innovations don't make it through to commercialization," says David Chen, chair of the Oregon Innovation Council. Oregon universities' growing research in nanotech, infectious disease solutions, renewable energy, and green building technologies are good candidates for the new funding, says Chen.

The Oregon Legislature has authorized the universities to receive a total of $14 million in tax credit-eligible gifts, with each institution's allocation based on its annual income from research grants and contracts.