American Innovators and Entrepreneurs Act

To amend the National Science Foundation Authorization Act of 2010 to authorize an Innovation Corps. 1. Short title This Act may be cited as the American Innovators and Entrepreneurs Act 2. National Science Foundation's Innovation Corps The National Science Foundation Authorization Act of 2010 ( Public Law 111–358 528. Innovation Corps (a) Finding Congress finds the following: (1) The National Science Foundation's Innovation Corps (referred to in this section as the I-Corps (2) The I-Corps includes investments in entrepreneurship and commercialization education, training, and mentoring, ultimately leading to the practical deployment of technologies, products, processes, and services that improve the Nation's competitiveness, promote economic growth, and benefit society. (3) By building networks of entrepreneurs, educators, mentors, institutions, and collaborations, and supporting specialized education and training, I-Corps is at the leading edge of a strong, lasting foundation for an American innovation ecosystem. (4) By translating federally funded research to a commercial stage more quickly and efficiently, programs like the I-Corps create new jobs and companies, help solve societal problems, and provide taxpayers with a greater return on their investment in research. (5) The I-Corps program model has a strong record of success that should be replicated at all Federal research agencies. (6) Federal funding of Nodes, Sites, Teams, and leadership and control of curriculum by the National Science Foundation and other participating agencies are essential parts of the I-Corps program. (7) The success of the I-Corps program requires opportunities for both on-line and in-person access to the I-Corps curriculum. (b) Definitions In this section: (1) Node The term Node (A) supports regional and national needs for innovation education, infrastructure, and research; and (B) serves as a location for delivery of the I-Corps curriculum. (2) Site The term Site (3) Team The term Team (A) at least one undergraduate student, graduate student, or postdoctoral fellow; (B) at least one professor or research scientist; and (C) at least one person experienced in commercialization or business, to act as a mentor to the Team. (c) Authorization of I-Corps (1) In general The Director shall— (A) carry out an I-Corps program to award grants for entrepreneurship and commercialization education to science and engineering researchers and students and institutions of higher education to increase the economic and social impact of federally funded research; and (B) develop and provide access through Nodes, Sites, and Teams to I-Corps program curriculum by supporting entrepreneurship and commercialization education and training for faculty, students, postdoctoral fellows, and other science and engineering researchers. (2) Grant purpose Grants awarded under this section shall increase the capacity of science and engineering researchers and students to successfully engage in entrepreneurial activities and to help transition the results of federally funded research into the marketplace by— (A) identifying science and engineering research that can lead to the practical deployment of technologies, products, processes, and services that improve the Nation's economic competitiveness; (B) bringing science and engineering researchers and students together with entrepreneurs, venture capitalists, and other industry representatives experienced in commercialization of new technologies; (C) supporting entrepreneurship and commercialization education and training for faculty, students, postdoctoral fellows, and other science and engineering researchers; and (D) promoting the development of regional and national networks of innovation that include entrepreneurs, venture capitalists, and other industry representatives who can serve as mentors to researchers and students at Foundation-funded institutions across the United States. (3) Additional uses of grant funds A researcher, student, or institution awarded a grant under this section may use the grant funds to support— (A) prototype and proof-of-concept development for funded projects; and (B) additional activities needed to build local, regional, and national infrastructure for science and engineering entrepreneurship. (4) Collaboration with small business innovation research and small business technology transfer programs The Director may work in collaboration with the Administrator of the Small Business Administration and the heads of Federal agencies that participate in the Small Business Innovation Research Program and the Small Business Technology Transfer Program under section 9 of the Small Business Act ( 15 U.S.C. 638 (5) Other federal agencies (A) In general The Director may establish agreements with other Federal agencies— (i) that fund scientific research to make researchers, students, and institutions funded by those agencies eligible to participate in the I-Corps program; or (ii) to assist such agencies with the design and implementation of their own program that is similar to the I-Corps program. (B) Partnership funding Each Federal agency entering into an agreement with the Director, as described in subparagraph (A), may (depending on the agreement negotiated) be responsible for funding— (i) the training of researchers and students they select to go through the I-Corps program; and (ii) the Nodes and Sites the agency designates as regional and national infrastructure for science and engineering entrepreneurship. (d) I-Corps curriculum committee The Director, or the Director’s designee, shall chair a curriculum committee— (1) consisting of program officers from Federal agencies described in paragraphs (4) and (5) of subsection (c), I-Corps program instructors, researchers educated by the I-Corps program, and industry and academic representatives; and (2) that shall generate and update I-Corps program curriculum and course material across subject areas and maintain the integrity of the curriculum. (e) Team selection Team selection shall be managed by relevant program officers at the Federal agency funding the Team. (f) Reporting The Director shall submit a biennial report on I-Corps program efficacy to the Committee on Commerce, Science, and Transportation of the Senate and the Committee on Science, Space, and Technology of the House of Representatives. Such report shall include metrics on the effectiveness of the program and demographic information of Teams being educated by the program. Each Federal agency participating in the I-Corps program shall contribute to each such report. (g) State and local partnerships The Director may engage in partnerships with State and local governments, economic development organizations, and nonprofit organizations to provide access to Nodes, Sites, and the I-Corps program curriculum to support entrepreneurship and commercialization education and training for faculty, students, postdoctoral fellows, and other science and engineering professionals as described under this section. (h) Authorization of appropriations There are authorized to be appropriated to the Foundation to carry out this section— (1) $35,000,000 for fiscal year 2017; (2) $40,000,000 for fiscal year 2018; and (3) $45,000,000 for each of fiscal years 2019 and 2020. . 3. Increase and streamline recovery of unclaimed assets owed to the United States Section 3711 of title 31, United States Code, is amended by adding at the end the following: (j) (1) The Secretary of the Treasury (referred to in this subsection as the “Secretary”) may locate and recover assets of the United States Government on behalf of any executive, judicial, or legislative agency in accordance with such procedures as the Secretary considers appropriate. (2) Notwithstanding any other provision of law concerning the depositing or collection of Federal payments, including section 3302(b), the Secretary may retain a portion of the amounts recovered under this subsection to cover the administrative and operational costs of the Secretary associated with locating and recovering assets of the United States Government. .

Summary: American Innovators and Entrepreneurs Act This bill amends the National Science Foundation Authorization Act of 2010 to direct the National Science Foundation (NSF) to: carry out an Innovation Corps (I-Corps) program to award grants for entrepreneurship and commercialization education to science and engineering researchers and students and institutions of higher education to increase the economic impact of federally funded research; and develop and provide access through specified Nodes, Sites, and Teams to I-Corps program curriculum by supporting entrepreneurship and commercialization education and training for faculty, students, postdoctoral fellows, and other science and engineering researchers. The purpose of grants shall be to increase the capacity of science and engineering researchers and students to engage successfully in entrepreneurial activities and to help transition the results of federally funded research into the marketplace. The Treasury may: locate and recover U.S. government assets on behalf of any executive, judicial, or legislative agency; and retain a portion of recovered amounts to cover administrative and operational costs associated with locating and recovering those assets.