CS/CS/HB 983

1	A bill to be entitled
2	An act relating to the Florida Research Commercialization
3	Matching Grant Program; creating s. 288.9552, F.S.;
4	providing legislative findings and intent; creating the
5	program; providing eligibility guidelines for applicants;
6	providing for a program administrator; providing for
7	program administrative costs; specifying eligibility
8	requirements; providing a schedule for the review of
9	applications; providing for awards; requiring the Florida
10	Institute for the Commercialization of Public Research to
11	submit an annual report to the Governor and Legislature;
12	providing an appropriation; providing an effective date.
13
14	Be It Enacted by the Legislature of the State of Florida:
15
16	Section 1. Section 288.9552, Florida Statutes, is created
17	to read:
18	288.9552  Florida Research Commercialization Matching Grant
19	Program.-
20	(1)  PURPOSE; GOALS AND OBJECTIVES; CREATION OF PROGRAM.-
21	(a)  The purpose of the Florida Research Commercialization
22	Matching Grant Program is to increase the amount of federal
23	funding available to this state for producing the kind of
24	distinctive technologies that drive today's knowledge-based
25	economy. By leveraging federal, state, and private-sector
26	resources, the Legislature intends that the program accelerate
27	the innovation process and more efficiently transform research
28	results into products in the marketplace.
29	(b)  The Legislature specifically intends for the matching
30	grant program to be a catalyst for small or startup companies to
31	take advantage of federal and state partnerships in order to
32	accelerate their growth and market penetration by helping them
33	to overcome the funding gap faced by many small companies based
34	in this state. The specific goals and objectives of the program
35	include:
36	1.  Increasing the amount of federal research moneys
37	received by small businesses in this state through awards from
38	the Small Business Innovation Research Program and the Small
39	Business Technology Transfer Program of the Office of Technology
40	of the United States Small Business Administration.
41	2.  Accelerating the entry of new technology-based products
42	into the marketplace.
43	3.  Producing additional technology-based jobs for the
44	state.
45	4.  Providing leveraged resources to increase the
46	effectiveness and success of applicants' projects.
47	5.  Speeding commercialization of promising technologies.
48	6.  Encouraging the establishment and growth of high-
49	quality, advanced technology firms in the state.
50	7.  Accelerating the rate of investment and enhancing the
51	state's investment infrastructure.
52	(c)  The Florida Research Commercialization Matching Grant
53	Program is created for the purpose of accomplishing the goals
54	and objectives specified in this section.
55	(2)  ADMINISTRATION.-The Florida Institute for the
56	Commercialization of Public Research shall develop programmatic
57	policy, ensure statewide applicability of the matching grant
58	program, establish criteria for grant awards, approve grant
59	awards, and review the program's progress and results.
60	(3)  ELIGIBILITY GUIDELINES.-A qualified applicant must:
61	(a)  Be a business entity that is registered with the
62	Secretary of State to operate in this state. A qualified
63	applicant must also have its primary office and a majority of
64	its employees domiciled in the state, and its principal research
65	activities must be conducted in the state.
66	(b)  Be a small company for which a state matching grant is
67	necessary for project development and implementation.
68	(c)  Have received a Phase I award under the federal Small
69	Business Innovation Research Program or Small Business
70	Technology Transfer Program and have received an invitation to
71	submit an application for a Phase II award. If a Phase II award
72	has already been issued, the end date of the federal award must
73	be identified and justification must be provided as to how these
74	additional funds will enhance, not supplant, the existing award.
75	(d)  Use federal, local, and private resources to the
76	maximum extent possible. Total project funding must demonstrate
77	that:
78	1.  Private-sector investments offset the total cost of the
79	project; and
80	2.  At least 75 percent of the project's total funding is
81	from sources other than the state grant.
82	(e)  Conduct the project funded by the matching grant
83	program in this state.
84	(4)  PROGRAM ADMINISTRATOR.-Subject to legislative
85	appropriations, the Florida Institute for the Commercialization
86	of Public Research shall serve as program administrator. The
87	institute may contract for the performance of a technology
88	review and related functions with a third party. Not more than 5
89	percent of a legislative appropriation may be used for
90	administrative purposes. The responsibilities of the program
91	administrator include, but are not limited to:
92	(a)  Coordinating and supporting the grant review,
93	approval, and contracting activities;
94	(b)  Administering the grant-selection process, including,
95	but not limited to, issuing open-call requests for grant
96	applications and receiving, reviewing, and processing grant
97	applications;
98	(c)  Serving as grant contract manager for recipients of a
99	matching grant;
100	(d)  Reporting program progress and results; and
101	(e)  Establishing a mechanism by which information
102	regarding grant projects may be made available to facilitate
103	additional investment by individual investors, investment for
104	early start-up costs, or venture capital investment.
105	(5)  APPLICATION REVIEW.-An application for a matching
106	grant award must be reviewed and approved or denied within 45
107	days after receipt.
108	(6)  FIDUCIARY.-The Florida Institute for the
109	Commercialization of Public Research shall award a grant to a
110	qualified applicant if:
111	(a)  The qualified applicant demonstrates that it has
112	obtained a Phase II award under the federal Small Business
113	Innovation Research Program or Small Business Technology
114	Transfer Program; and
115	(b)  The qualified applicant executes a performance
116	contract with the institute.
117
118	The institute shall release the grant to a qualified applicant
119	upon completion of all contract requirements.
120	(7)  AWARDS.-The matching grant program may provide one-
121	time awards of up to $250,000 per project to a qualified
122	applicant.
123	(8)  REPORTING.-Beginning December 1, 2011, and annually
124	thereafter, the Florida Institute for the Commercialization of
125	Public Research shall submit a report relating to the grants
126	awarded under the program to the Governor, the President of the
127	Senate, and the Speaker of the House of Representatives for the
128	previous fiscal year.
129	Section 2.  The sum of $4 million of nonrecurring funds is
130	appropriated from the General Revenue Fund to the Florida
131	Institute for the Commercialization of Public Research for the
132	purpose of implementing s. 288.9552, Florida Statutes, during
133	the 2010-2011 fiscal year.
134	Section 3.  This act shall take effect July 1, 2010.

CODING: Words stricken are deletions; words underlined are additions.