NRS 231.1591 – Definitions.

As used in NRS 231.1591 to 231.1597, inclusive, unless the context otherwise requires: 1. “Chancellor” means the Chancellor of the Nevada System of Higher Education or his or her designee. 2. “Research universities” means the University of Nevada, Las Vegas, and the University of Nevada, Reno. (Added to NRS by 2011, 3437)

NRS 231.1592 – Creation; disposition of interest and income; nonreversion; administration; gifts, grants and donations; allocations.

1. The Knowledge Account is hereby created in the State General Fund. 2. The interest and income earned on: (a) Money in the Knowledge Account, after deducting any applicable charges; and (b) Unexpended appropriations made to the Account from the State General Fund, must be credited to the Knowledge Account. 3. Any money in the […]

NRS 231.1593 – Commercialization revenue: Authority of Executive Director to enter into agreement for allocation with research university or Desert Research Institute; deposit in Account.

1. The Executive Director may enter into agreements, when the Executive Director deems such an agreement to be appropriate, with the research universities and the Desert Research Institute for the allocation of commercialization revenue between the Office, the research universities and the Desert Research Institute. Any commercialization revenue received by the Office pursuant to such […]

NRS 231.1594 – Allocations from Account: Procedures for applying; application by research university or Desert Research Institute; review and approval of applications; use of money; factors to be considered.

1. After considering the advice and recommendations of the Board, the Executive Director shall establish procedures for applying for an allocation of money from the Knowledge Account created by NRS 231.1592. The procedures must include, without limitation, a requirement that applications for allocations of money set forth: (a) The proposed use of the money; (b) […]

NRS 231.1595 – Powers and duties of Executive Director: Establishment of economic development goals and objectives; expansion of research; enhancement of transfer and commercialization of research and technologies; verification and monitoring of research programs and plans; encouragement of investment; requirements for reports; agreements to obtain private equity investment.

1. In consultation with the Board and the Chancellor, the Executive Director shall: (a) Establish, for the programs established pursuant to NRS 231.1591 to 231.1597, inclusive, economic development goals which are consistent with the State Plan for Economic Development developed by the Executive Director pursuant to subsection 2 of NRS 231.053 and the strategic plans […]

NRS 231.1596 – Technology outreach program: Establishment; required functions; cooperative design and operation with technology transfer offices at research universities and Desert Research Institute.

1. The Executive Director shall use money in the Knowledge Account created by NRS 231.1592 to establish a technology outreach program at locations distributed strategically throughout this State. 2. The Executive Director shall ensure that the technology outreach program acts as a resource to: (a) Broker ideas, new technologies and services to entrepreneurs and businesses […]

NRS 231.1597 – Authorized uses of allocations from the Account.

In consultation with the Board and the Chancellor, the Executive Director shall allocate money in the Knowledge Account created by NRS 231.1592 to the research universities and the Desert Research Institute to provide funding for: 1. The recruitment, hiring and retention of research teams and faculty to conduct research in science and technology which has […]