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The Committee on Commerce (Oelrich) recommended the following

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amendment:

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     Senate Amendment (with title amendment)

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     Delete everything after the enacting clause

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and insert:

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     Section 1.  Section 288.9552, Florida Statutes, is created

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to read:

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     288.9552 Florida Research Commercialization Matching Grant

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Program.--

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     (1) PURPOSE; GOALS AND OBJECTIVES; CREATION OF PROGRAM.--

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     (a) The purpose of the Florida Research Commercialization

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Matching Grant Program is to increase the amount of federal

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funding coming to this state which will produce the kind of

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distinctive technologies that drive today's knowledge-based

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economy. By leveraging federal, state, and private-sector

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resources, the program intends to accelerate the innovation

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process and more efficiently transform research results into

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products in the marketplace.

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     (b) The matching grant program is specifically intended to

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be a catalyst for small or startup companies that can take

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advantage of federal and state partnerships in order to

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accelerate their growth and market penetration by helping to

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overcome the funding gap faced by many small companies that are

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based in this state. Specific goals and objectives of the program

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include:

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     1. Increasing the amount of federal research moneys

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received by small businesses in this state through awards from

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the Small Business Innovation Research Program and Small Business

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Technology Transfer Program of the Office of Technology of the

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United States Small Business Administration.

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     2. Accelerating the entry of new technology-based products

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into the marketplace.

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     3. Producing additional technology-based jobs for the

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state.

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     4. Providing leveraged resources to increase the

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effectiveness and success of applicants' projects.

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     5. Speeding commercialization of promising technologies.

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     6. Encouraging the establishment and growth of high-

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quality, advanced technology firms in the state.

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     7. Accelerating deal flow and enhancing the state's

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investment infrastructure.

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     (c) The Florida Research Commercialization Matching Grant

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Program is created for the purpose of accomplishing the goals and

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objectives specified in this section.

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     (2) STATEWIDE ADVISORY COMMITTEE.--A statewide advisory

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committee is created to develop programmatic policy, ensure

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statewide applicability of the matching grant program, establish

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criteria for grant awards, approve grant awards, review program

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progress and results, and communicate program results to state

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policymakers.

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     (a) The committee shall consist of 15 members representing

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the diverse geography of the state. The Governor, the President

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of the Senate, and the Speaker of the House of Representatives

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shall each appoint one member for a 4-year term from each of the

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following:

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     1. Florida university technology commercialization

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organizations.

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     2. Research institutes in the state.

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     3. The state's early stage venture capital community.

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     4. Entrepreneurs representing a startup company.

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     (b) In addition, the Governor shall appoint one member

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representing a regional technology development organization in

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the state and one member of the board of the Florida Research

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Consortium.

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     (c) The chairperson of the Technology Entrepreneurship and

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Capital Board Committee of Enterprise Florida, Inc., shall serve

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on the committee. Committee members shall elect from the

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membership the chairperson of the committee. Seats vacated on the

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committee shall be filled in the same manner as the original

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appointment.

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     (d) Members of the committee shall serve without

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compensation, but are entitled to reimbursement for per diem and

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travel expenses in accordance with s. 112.061 while performing

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their duties.

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     (e) Enterprise Florida, Inc., shall provide staff support

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for the committee.

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     (f) The committee shall hold its initial meeting no later

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than October 1, 2008. Subsequent meetings shall be held upon the

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call of the chair.

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     (g) Beginning September 1, 2009, and annually thereafter,

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the committee shall transmit an annual report to the Governor,

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the President of the Senate, and the Speaker of the House of

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Representatives for the previous fiscal year.

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     (3) FIDUCIARY.--Enterprise Florida, Inc., shall accept

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money appropriated by the Legislature for providing grants

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through the matching grant program. Enterprise Florida, Inc.,

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shall award money to an applicant if:

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     (a) The statewide advisory committee approves the award;

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     (b) The applicant demonstrates that it has obtained a

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federal Small Business Innovation Research Program or Small

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Business Technology Transfer Program Phase II award; and

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     (c) The applicant executes a performance contract with

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Enterprise Florida, Inc.

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Unallocated legislative appropriations for the matching grant

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program at the end of the fiscal year shall carry forward to

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succeeding fiscal years as provided under s. 288.904(1)(j).

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     (4) PROGRAM ADMINISTRATOR.--Subject to appropriations,

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Enterprise Florida, Inc., shall serve as program administrator.

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Enterprise Florida, Inc., may contract for the performance of all

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or some of its functions with a third party. Not more than 10

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percent of a legislative appropriation may be used for

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administrative purposes. The responsibilities of the program

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administrator include, but are not limited to:

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     (a) Establishing and coordinating the grant-selection

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committee;

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     (b) Administering the grant-selection process, including,

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but not limited to, issuing open-call requests for grant

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applications and receiving, reviewing, and processing grant

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applications;

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     (c) Serving as grant contract manager for recipients of a

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matching grant;

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     (d) Reporting program progress and results and programmatic

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recommendations for change to the statewide advisory committee;

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     (e) Establishing a technical assistance network composed of

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small business development centers, technology incubators, and

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university technology transfer offices within the state. Network

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members shall publicize the program and facilitate participation

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in the matching grant program; and

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     (f) Establishing a mechanism by which information regarding

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grant projects may be made available to facilitate additional

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angel, seed, or venture capital investment.

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     (5) GRANT-SELECTION COMMITTEE.--The grant-selection

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committee shall consist of not fewer than five members chosen by

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the program administrator. The members must be experienced in

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conducting, reviewing, and evaluating research and development

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projects for commercialization potential or must have a

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successful track record in developing technology

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commercialization programs or managing investments in early stage

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companies. The grant-selection committee must review grant

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applications using adopted grant criteria, recommend grant awards

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and grant amounts to the statewide advisory committee, and

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perform other duties as required by the program administrator.

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The amount of each grant awarded may not be less than $100,000

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and not more than $250,000.

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     (6) ELIGIBILITY GUIDELINES.--

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     (a) An applicant for a research commercialization matching

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grant must be a business entity that is registered with the

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Secretary of State to operate in this state. If an applicant is

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not based in this state, a grant award is contingent upon the

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applicant successfully registering to do business in this state.

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     (b) An applicant must be a small company for which a state

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matching grant is necessary for project development and

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implementation.

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     (c) An applicant must have received a federal Small

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Business Innovation Research Program or Small Business Technology

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Transfer Program Phase I award and have received an invitation to

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submit an application for a Phase II award. If a Phase II award

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has already been issued, the end date of the federal award must

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be identified and justification must be provided as to how these

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additional funds will enhance, not supplant, the existing award.

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     (d) An applicant must identify all sources of project

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funding. Reported project funding must demonstrate that:

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     1. At least 20 percent of the project's total funding comes

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from the Federal Government.

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     2. No more than 25 percent of the project's total funding

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is provided by the state grant. Funds from the state matching

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grant program may not supplant or lessen the amount of funds

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committed by other project partners.

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     3. At least 25 percent of the project's total funding is

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provided by sources other than the state grant and the Federal

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Government. Funding from the applicant or a partner may be used

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to satisfy this requirement. External funds may consist of cash

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or in-kind contributions.

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     (e) Projects funded by the matching grant program must be

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conducted in this state.

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     (7) AWARDS.--The program shall make 20 to 30 awards,

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ranging from $100,000 to $250,000 each, for a total of $5

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million.

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     Section 2.  This act shall take effect upon becoming a law.

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================ T I T L E  A M E N D M E N T ================

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And the title is amended as follows:

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     Delete everything before the enacting clause

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and insert:

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A bill to be entitled

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An act relating to the Florida Research

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Commercialization Matching Grant Program; creating s.

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288.9552, F.S.; providing legislative findings and

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intent; creating the program; providing definitions;

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creating a statewide advisory committee for certain

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purposes; providing for the members of the committee to

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be reimbursed for per diem and travel expenses;

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requiring reports; designating a fiduciary actor;

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providing for program administrative costs and award

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disbursement; providing that unallocated legislative

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appropriations for the matching grant program at the

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end of the fiscal year shall carry forward to

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succeeding fiscal years as authorized by state law;

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providing for a program administrator; providing

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responsibilities of the program administrator; creating

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a grant-selection committee; providing responsibilities

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of the grant-selection committee; providing applicant

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eligibility guidelines; providing for awards to

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successful applicants; providing an effective date.

3/31/2008  8:49:00 AM     14-05819A-08