Too many research discoveries and technologies never make it from the laboratory to the marketplace or the patient's bedside. Researchers speak of a "Valley of Death" between basic R&D in laboratories and the creation of marketable technologies and medical treatments.
Earlier this week, I introduced legislation with Sen. Frank Lautenberg to help to bridge this gap. The America Innovates Act would create an American Innovation Bank to help universities and other research institutions establish and grow "proof of concept" funds to invest in science and technology-based projects in their earliest stages. The legislation also would provide high-tech innovators with business development training so they can turn their ideas into marketable products.
Bridging this gap between laboratories and the marketplace will help to save American lives, create jobs, and ensure America's continuing role as a leader in innovation.