N.Y. Public Authorities Law § 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.