Over recent years, Oregon has enacted several significant legislative initiatives to accelerate the level of innovation and competitiveness for traded sector industries. Below is a brief history of key legislation that has helped create the foundation for Oregon InC and some of its key partners. 1995 Legislative Session The Oregon Growth Account was formed in the State Treasurer's office to provide seed funding for Oregon emerging businesses. 1997 Legislative Session Senate Bill 504 formed the Engineering Technology Council (ETIC) to enhance post-secondary engineering and technology education and research. 2001 Legislative Session Senate Bill 273 (PDF) formed the Oregon Council for Knowledge and Economic Development (OCKED); a partnership between industry, education and government to promote knowledge-based industries. OCKED developed a report (PDF) in December 2002 that served as an initial roadmap for the innovation economy. Senate Bill 100 (PDF) established the Higher Education Technology Transfer (HETT) fund to make university research and technologies available to Oregon industries. SB101 also amended the 1995 Oregon Growth Account (OGA) to create its current operational structure. OGA makes investment in venture funds that provide seed to later stage capital across a range of industries primarily in Oregon.		2003 Legislative Session The legislature allocated $20 million in capital and $1 million to fund operations for Oregon Nanoscience and Microtechnologies Institute (ONAMI), representing the most significant pairing of Oregon's industry and public research universities in history. House Bill 3613 (PDF) established the Oregon Investment Fund, a $100 million program that encourages the growth of Oregon small business by leveraging private equity and venture capital funds. 2005 Legislative Session Senate Bill 838 (PDF) established the Oregon Innovation Council (Oregon InC), comprised of representatives from industry, government and universities. Oregon InC serves as the state's advisory board on innovation and competitiveness issues and is charged with developing a state innovation strategy. The bill also allocated $7 million for operations for ONAMI, the state's first signature research center. Senate Bill 853 (PDF) established a $14 million University Venture Fund to be used by Oregon Health and Sciences University and Oregon University System campuses to prove the commercial potential of research, technologies and business concepts. The fund will be used for proof of concept projects and tech transfer costs related to commercializing research and entrepreneurial development efforts that connect schools of business to commercial research and technologies.