(1) Informed analysis of the status of science and technology research, development and commercialization capabilities, infrastructure and activities within West Virginia and the development of innovative options that build upon and expand them with the goal of increasing the gross state product;
(2) Coordination of efforts to attract private and federal assistance for research, development and commercialization in those fields most likely to maximize the gross state product;
(3) Increased collaboration between all of the federal, state and private research and development and technology commercialization organizations in the state;
(4) Strengthening the leadership and support of the West Virginia experimental program to stimulate competitive research; and
(5) Leadership in science and technology policy.
(b) The Legislature therefore declares that creation of a West Virginia academy of science and technology will promote and foster the educational and economic development of the state.