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For a year now, a consortium of Long Island's largest research organizations has been talking about the best way to move laboratory ideas into the marketplace.
They say the tough part - finding money - is being solved.
Within a few weeks, the Long Island Research Institute plans to announce formation of a venture capital firm that will finance startup companies or new technologies, officials of the organization said this week. The fund might be as large as $25 million, according to one institute advisory board member.
Philip Palmedo, president of the research consortium, told a meeting of business executives in Melville Monday that "there will be...