TRANSLATIONAL RESEARCH GRANTS.

SEC. 602. TRANSLATIONAL RESEARCH GRANTS.(a) Sense of Congress.—It is the sense of Congress that—(1) commercialization of federally funded research may benefit society and the economy; and(2) not-for-profit organizations support the commercialization of federally funded research by providing useful business and technical expertise to researchers.(b) Commercialization Promotion.—The Director of the Foundation shall continue to award grants on a competitive, merit-reviewed basis to eligible entities to promote the commercialization of federally funded research results.(c) Use of Funds.—Activities supported by grants under this section may include—(1) identifying Foundation-sponsored research and technologies that have the potential for accelerated commercialization;(2) supporting prior or current Foundation-sponsored investigators, institutions of higher education, and non-profit organizations that partner with an institution of higher education in undertaking proof-of-concept work, including development of prototypes of technologies that are derived from Foundation-sponsored research and have potential market value;(3) promoting sustainable partnerships between Foundation-funded institutions, industry, and other organizations 130 STAT. 3036 within academia and the private sector with the purpose of accelerating the transfer of technology;(4) developing multi-disciplinary innovation ecosystems which involve and are responsive to specific needs of academia and industry; and(5) providing professional development, mentoring, and advice in entrepreneurship, project management, and technology and business development to innovators.(d) Eligibility.—(1) In general.—The following organizations may be eligible for grants under this section:(A) Institutions of higher education.(B) Public or nonprofit technology transfer organizations.(C) A nonprofit organization that partners with an institution of higher education.(D) A consortia of 2 or more of the organizations described under subparagraphs (A) through (C).(2) Lead organizations.—Any eligible organization under paragraph (1) may apply as a lead organization.(e) Applications.—An eligible entity seeking a grant under this section shall submit an application to the Director at such time, in such manner, and containing such information as the Director may require.