The General Assembly finds that:
(1) Fundamental research is the building block of a knowledge-based economy;
(2) Federal research grants that support fundamental research are transitioning from single-discipline grants to multidiscipline grants that span academic programs;
(3) A successful knowledge-based economy also depends on the transition of innovative research projects developed in research labs to companies in the private sector for commercialization; and
(4) The State must enhance its research and technology transfer programs to continue developing a strong knowledge-based economy.