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Universities, research institutes and startups urge continued and increased Knowledge Fund support as GOED outlines tech commercialization work
Summary
University and research leaders, and GOED officials, told the joint budget committee the Knowledge Fund is the primary state tool for seed investment in research commercialization. Speakers from UNLV, UNR and DRI cited venture capital attraction, company formation and local job creation tied to Knowledge Fund‑backed programs.
Tom Burns, executive director of the Governor’s Office of Economic Development (GOED), and Karsten Heise, head of innovation‑based economic development at GOED, presented the agency’s innovation portfolio and requested continued funding for the Knowledge Fund and related programs.
Karsten Heise described the Knowledge Fund as GOED’s principal instrument to grow an innovation‑driven economy, attract federal and private capital, and translate university research into commercial ventures. He said other states have increased strategic investments and that Nevada’s existing Knowledge Fund annual scale is comparatively small. He presented a summarized economic impact projection tied to the budget request: the combined budget request would, in GOED’s model, support thousands of jobs and tens of millions in state tax revenue if the office’s programs scale up.
University and research leaders from the Desert Research Institute (DRI), University of Nevada, Las Vegas (UNLV), and University of Nevada, Reno (UNR) described specific Knowledge Fund‑supported outcomes:
- Kamut Acharya, president of DRI, said Knowledge Fund grants aided DRI’s participation in the Southwest Sustainability Innovation Engine (SWISSY), an NSF‑funded sustainability innovation engine; SWISSY awarded roughly $15,000,000 in initial NSF funding and aims for a multi‑year partnership that could bring additional federal investment. He highlighted research projects on evaporation quantification and other water‑security work.
- Beau Bernhard of UNLV described Black Fire Innovation (UNLV’s innovation hub) and startup examples that spun out of university research, including firms working on lithium battery safety and atmospheric water harvesting. He said Black Fire hosts more than 100 early‑stage companies.
- Myrtle Gautam of UNR said the Knowledge Fund has supported NCAR (Nevada Center for Applied Research), helped affiliated companies raise hundreds of millions of dollars in venture capital and created high‑tech jobs; she described how projects such as EcoAtoms and American Battery Technology Company have leveraged university research.
Speakers emphasized two themes: (1) Knowledge Fund investments attract follow‑on federal grants and private venture capital, and (2) the fund builds local infrastructure—labs, accelerators and commercialization expertise—that allows Nevada to compete for national innovation programs. Karsten Heise said GOED’s analysis projects that an enhanced Knowledge Fund will produce substantial job creation and state tax revenue over time; he provided numerical modeling that the committee can request for details.
Public commenters including business and civic leaders reiterated the same points, noting specific local successes (WaterStart, Waver, ZetroGenesis) and asking the Legislature to sustain or increase Knowledge Fund support.
Ending: GOED asked the committee to consider the Knowledge Fund enhancements as part of the economic development budget; university and industry witnesses argued the fund is an essential lever for commercializing research, attracting federal grants and catalyzing private investment.
