An Act creating the New Jersey Innovation Council Program and supplementing Title 34 of the Revised Statutes.

Be It Enacted by the Senate and General Assembly of the State of New Jersey:

1. This act shall be known and may be cited as the "New Jersey Innovation Council Act."

2. As used in P.L. , c. (C. ) (pending before the Legislature as this bill):

"Authority" means the New Jersey Economic Development Authority established pursuant to section 4 of P.L.1974, c.80 (C.34:1B-4).

"New Jersey Innovation Council" or "council" means an entity established by the authority to oversee and execute the objectives of the New Jersey Innovation Council Program and operate the New Jersey Innovation Network.

"New Jersey Innovation Council Program" or "program" means the program established by the authority pursuant to section 3 of P.L. , c. (C. ) (pending before the Legislature as this bill).

"New Jersey Innovation Task Force" or "task force" means the task force established pursuant to section 4 of P.L. , c. (C. ) (pending before the Legislature as this bill).

"New Jersey Innovation Network" or "network" means the platform used by the council to provide resources, manage collaboration, and foster innovation within the State.

3. a. The New Jersey Economic Development Authority shall establish a New Jersey Innovation Council Program to:

(1) Promote the role and importance of innovation in expanding economic development and improving quality of life in the State;

(2) Partner with academic institutions, businesses, and government entities to enhance support for innovation and to better align public and private resources;

(3) Attract innovation-driven enterprises and individuals to the State in order to expand current industry clusters and foster the growth of new clusters;

(4) Develop policies and legislative recommendations that cultivate and retain the best entrepreneurs and researchers who are innovating in their respective fields;

(5) Recommend criteria to effectively measure, index, and communicate New Jersey's status as a global source of innovation; and

(6) Establish grant and investment programs to support innovators at research institutions, in the private sector, and elsewhere.

b. The authority shall establish a New Jersey Innovation Council to oversee and execute the objectives of the New Jersey Innovation Council Program and to implement the findings and recommendations of the task force established pursuant to section 4 of P.L. , c. (C. ) (pending before the Legislature as this bill).

c. The council shall establish the "New Jersey Innovation Network." The network shall be a platform to unite startup businesses, innovation-driven enterprises, service providers, research institutions, colleges, universities, and community leaders to connect, and share ideas and resources. The network will consist of a website, a database, and support services for the implementation of the strategic plan created by the task force pursuant to paragraph (5) of subsection c. of section 4 of P.L. , c. (C. ) (pending before the Legislature as this bill).

d. The objective of the network shall be to:

(1) direct entrepreneurs to services they need to build their business, including financial, legal, and consulting services;

(2) bring together all components of innovation in New Jersey, highlighting existing resources, networks, and opportunities for engagement;

(3) publicize and celebrate success stories that inspire others to engage in innovation; and

(4) provide virtual access to the council with an opportunity to submit ideas to the council through video uploads.

e. The authority shall include in its annual budget request a request for an appropriation of funds sufficient to fund the New Jersey Innovation Council Program for the upcoming State fiscal year. The appropriation shall be utilized to fund grant programs as well as to fund the activities of the New Jersey Innovation Council and the New Jersey Innovation Task Force, and the cost of operating the New Jersey Innovation Network.

4. a. There is established in the New Jersey Innovation Council the "New Jersey Innovation Task Force."

b. The purpose of the task force is to make recommendations to the Legislature, the Governor, and the council on how to strengthen the capacity of the State to create, scale, and sustain innovative social programs; build the capacity of nonprofit organizations and government entities to pursue entrepreneurial ventures; and attract funding to New Jersey to support these ventures.

c. The task force shall:

(1) gather information and report on the state of social innovation, entrepreneurship, and social enterprise in the State;

(2) receive and consider reports and testimony from individuals, government departments, community-based organizations, nonprofit organizations, faith-based organizations, foundations, and other Statewide and national public and private organizations about how social innovation and entrepreneurship can accelerate progress on social issues, provide benefits across industry sectors, and advance social and economic development goals;

(3) identify promising strategies that have been used in other communities and states to encourage cross-sector collaboration on social issues;

(4) identify promising strategies to educate and train citizens, nonprofit organizations, governments, students, and businesses on entrepreneurial concepts as applied in social sector enterprises; and,

(5) complete a Statewide comprehensive strategic plan which outlines the policies and strategies from paragraphs (3) and (4) and combines them with defined activities and actions that the council can take in order to incentivize the general public, State and local officials, various public and private organizations and associations, businesses and industries, agencies, potential funders, and other community resources to increase Statewide collaborations and innovation.

d. The task force shall consist of 11 members, as follows:

(1) Two executives of nonprofit organizations that operate at least one social enterprise, and who shall be appointed by the Governor;

(2) One representative from a Statewide or regional nonprofit management support organization, and who shall be appointed by the Governor;

(3) One university representative who has an established track record in social entrepreneurship or tracking the economic impact of social sector issues, and who shall be appointed by the Governor;

(4) The Commissioner of Human Services, ex officio, or the commissioner's designee;

(5) The Commissioner of Children and Families, ex officio, or the commissioner's designee;

(6) Two representatives from the private sector whose companies have a strong commitment to the community and have a track record of support for social entrepreneurship, and who shall be appointed by the Governor;

(7) One representative from a foundation or venture philanthropy who has an established track record in funding social entrepreneurs, and who shall be appointed by the Governor; and,

(8) Two individuals who have expertise that would be valuable to the task force, including but not limited to, individuals with expertise in the areas of volunteerism, public-private partnerships, or research collaboration between businesses and institutions of higher education, and who shall be appointed by the Governor.

e. Members of the task force shall be appointed within 30 days after the effective date of P.L. , c. (C. ) (pending before the Legislature as this bill), and the task force shall organize within 30 days after appointment of the majority of its members. The Governor shall appoint a chairperson. Vacancies in the membership of the task force shall be filled in the same manner as the original appointment. The council and the authority shall provide administrative support for the task force.

f. The task force shall be entitled to call to its assistance and avail itself of the services of the employees of any State department, board, bureau, commission, authority, agency, or other entity, as it may require and as may be available for its purposes, and to employ stenographic and clerical assistance. The members shall serve without compensation but shall be reimbursed for traveling and other miscellaneous expenses as may be necessary to perform its duties, within the limits of funds made available to it for its purposes.

g. The task force shall meet at the call of the chair with a minimum of six meetings per year. The task force shall report to the Legislature and the Governor within six months of its first meeting and again within one year of its first meeting, and shall continue to report to the Legislature and the Governor annually thereafter, on the plans and actions undertaken and resources needed by the task force to fulfill its purpose and accomplish the tasks identified in subsection c. of this section.

h. The task force shall expire upon the completion of the strategic plan set forth in subsection b. of this section, and the finding of the task force that the council no longer requires further assistance and support from the task force in order to execute the council's mission as set forth in subsection a. of section 3 of P.L. , c. (C. ) (pending before the Legislature as this bill).

5. The authority may adopt, pursuant to the provisions of the "Administrative Procedure Act," P.L. 1968, c. 410 (C.52:14B-1 et seq.), any rules and regulations necessary to implement the provisions of P.L. , c. (C. ) (pending before the Legislature as this bill).

6 This act shall take effect immediately.

STATEMENT

This bill directs the Economic Development Authority (authority) to establish the "New Jersey Innovation Council (council) to identify and advance strategies that accelerate innovation, economic growth, and job creation. The bill also directs the authority to create the "New Jersey Innovation Task Force" (task force) and the "New Jersey Innovation Network" (network) within the council.

The task force will be composed of public and private sector representatives appointed by the governor as well as the Commissioner of Human Services and the Commissioner of Children and Families or their designee. The task force will provide assistance to the council by conducting research and interviews with experts in areas relating to innovation, entrepreneurship, and social enterprise. The information gathered by the task force will be used to identify and craft policy recommendations and strategies to enhance innovation and to draft a strategic plan that will guide the council on actions to take in advancing innovation and collaboration throughout public and private sector institutions and entities in the State.

The network will be a platform for the council to interact with stakeholders across the State and to serve as a central point for the council to coordinate and provide communications, research, and resources. The network will include a website, database, and support services.