A BILL TO BE ENTITLED
AN ACT to accelerate the commercialization of Photonics‑based (light-based) technologies from the regional university campuses in order to create jobs, attract future entrepreneurs, realize economic potential of research, and capitalize on the investment in photonics‑based capabilities.
Whereas, the Carolinas Photonics Consortium (CPC) consists of the University of North Carolina at Charlotte, North Carolina State University, Western Carolina University, Duke University, and Clemson University; and
Whereas, the CPC campuses have received investments greater than $200,000,000 since 2001 for facilities and equipment for the research and education of photonics‑based technologies; and
Whereas, CPC is the largest concentration of photonics‑based resources in the United States; and
Whereas, the opto‑electronics market which is served by photonics‑based technologies is $250,000,000,000 and growing 12% annually; and
Whereas, photonics‑based technologies are the core of most regional target markets including: defense and security, lighting, automotive, medical, telecommunications, and manufacturing; and
Whereas, the number of photonics‑based new companies, spin-offs from universities, licenses of technologies, or other commercial transfer of knowledge is relatively small for the Carolinas; Now, therefore,
The General Assembly of North Carolina enacts:
SECTION 1. There is appropriated to the Board of Governors of The University of North Carolina the sum of one million one hundred fifty thousand dollars ($1,150,000) for the 2007‑2008 fiscal year and the sum of two million three hundred thousand dollars ($2,300,000) for the 2008‑2009 fiscal year to be used as follows:
(1)	To provide seed funding for competitively submitted proposals from the CPC universities for commercial photonics‑based opportunities.
(2)	To provide maturation funding for competitively submitted proposals which have successfully progressed through the seed stage and are supported by the external review board.
(3)	To provide business and market development support from North Carolina State University's HiTEC (High Technology Entrepreneurship and Commercialization) program.
(4)	To provide leadership and administrative support to manage the projects and ensure progress versus established milestones.
SECTION 2.  This act becomes effective July 1, 2007.