| 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 definitions; creating a statewide |
| 6 | advisory committee for certain purposes; providing for the |
| 7 | members of the committee to be reimbursed for per diem and |
| 8 | travel expenses; requiring reports; designating a |
| 9 | fiduciary actor; providing for program administrative |
| 10 | costs and award disbursement; providing that unallocated |
| 11 | legislative appropriations for the matching grant program |
| 12 | at the end of the fiscal year shall carry forward to |
| 13 | succeeding fiscal years as authorized by state law; |
| 14 | providing for a program administrator; providing |
| 15 | responsibilities of the program administrator; creating a |
| 16 | grant-selection committee; providing responsibilities of |
| 17 | the grant-selection committee; providing applicant |
| 18 | eligibility guidelines; providing for awards to successful |
| 19 | applicants; providing an effective date. |
| 20 |
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| 21 | Be It Enacted by the Legislature of the State of Florida: |
| 22 |
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| 23 | Section 1. Section 288.9552, Florida Statutes, is created |
| 24 | to read: |
| 25 | 288.9552 Florida Research Commercialization Matching Grant |
| 26 | Program.-- |
| 27 | (1) PURPOSE; GOALS AND OBJECTIVES; CREATION OF PROGRAM.-- |
| 28 | (a) The purpose of the Florida Research Commercialization |
| 29 | Matching Grant Program is to increase the amount of federal |
| 30 | funding coming to this state which will produce the kind of |
| 31 | distinctive technologies that drive today's knowledge-based |
| 32 | economy. By leveraging federal, state, and private-sector |
| 33 | resources, the program intends to accelerate the innovation |
| 34 | process and more efficiently transform research results into |
| 35 | products in the marketplace. |
| 36 | (b) The matching grant program is specifically intended to |
| 37 | be a catalyst for small or startup companies that can take |
| 38 | advantage of federal and state partnerships in order to |
| 39 | accelerate their growth and market penetration by helping to |
| 40 | overcome the funding gap faced by many small companies that are |
| 41 | based in this state. Specific goals and objectives of the |
| 42 | program include: |
| 43 | 1. Increasing the amount of federal research moneys |
| 44 | received by small businesses in this state through awards from |
| 45 | the Small Business Innovation Research Program and Small |
| 46 | Business Technology Transfer Program of the Office of Technology |
| 47 | of the United States Small Business Administration. |
| 48 | 2. Accelerating the entry of new technology-based products |
| 49 | into the marketplace. |
| 50 | 3. Producing additional technology-based jobs for the |
| 51 | state. |
| 52 | 4. Providing leveraged resources to increase the |
| 53 | effectiveness and success of applicants' projects. |
| 54 | 5. Speeding commercialization of promising technologies. |
| 55 | 6. Encouraging the establishment and growth of high- |
| 56 | quality, advanced technology firms in the state. |
| 57 | 7. Accelerating deal flow and enhancing the state's |
| 58 | investment infrastructure. |
| 59 | (c) The Florida Research Commercialization Matching Grant |
| 60 | Program is created for the purpose of accomplishing the goals |
| 61 | and objectives specified in this section. |
| 62 | (2) STATEWIDE ADVISORY COMMITTEE.--A statewide advisory |
| 63 | committee is created to develop programmatic policy, ensure |
| 64 | statewide applicability of the matching grant program, establish |
| 65 | criteria for grant awards, approve grant awards, review program |
| 66 | progress and results, and communicate program results to state |
| 67 | policymakers. |
| 68 | (a) The committee shall consist of 15 members representing |
| 69 | the diverse geography of the state. The Governor, the President |
| 70 | of the Senate, and the Speaker of the House of Representatives |
| 71 | shall each appoint one member for a 4-year term from each of the |
| 72 | following: |
| 73 | 1. Florida university technology commercialization |
| 74 | organizations. |
| 75 | 2. Research institutes in the state. |
| 76 | 3. The state's early stage venture capital community. |
| 77 | 4. Entrepreneurs representing a startup company. |
| 78 | (b) In addition, the Governor shall appoint one member |
| 79 | representing a regional technology development organization in |
| 80 | the state and one member of the board of the Florida Research |
| 81 | Consortium. |
| 82 | (c) The chairperson of the Technology Entrepreneurship and |
| 83 | Capital Board Committee of Enterprise Florida, Inc., shall serve |
| 84 | on the committee. Committee members shall elect from the |
| 85 | membership the chairperson of the committee. Seats vacated on |
| 86 | the committee shall be filled in the same manner as the original |
| 87 | appointment. |
| 88 | (d) Members of the committee shall serve without |
| 89 | compensation, but are entitled to reimbursement for per diem and |
| 90 | travel expenses in accordance with s. 112.061 while performing |
| 91 | their duties. |
| 92 | (e) Enterprise Florida, Inc., shall provide staff support |
| 93 | for the committee. |
| 94 | (f) The committee shall hold its initial meeting no later |
| 95 | than October 1, 2008. Subsequent meetings shall be held upon the |
| 96 | call of the chair. |
| 97 | (g) Beginning September 1, 2009, and annually thereafter, |
| 98 | the committee shall transmit an annual report to the Governor, |
| 99 | the President of the Senate, and the Speaker of the House of |
| 100 | Representatives for the previous fiscal year. |
| 101 | (3) FIDUCIARY.--Enterprise Florida, Inc., shall accept |
| 102 | money appropriated by the Legislature for providing grants |
| 103 | through the matching grant program. Enterprise Florida, Inc., |
| 104 | shall award money to an applicant if: |
| 105 | (a) The statewide advisory committee approves the award; |
| 106 | (b) The applicant demonstrates that it has obtained a |
| 107 | federal Small Business Innovation Research Program or Small |
| 108 | Business Technology Transfer Program Phase II award; and |
| 109 | (c) The applicant executes a performance contract with |
| 110 | Enterprise Florida, Inc. |
| 111 |
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| 112 | Unallocated legislative appropriations for the matching grant |
| 113 | program at the end of the fiscal year shall carry forward to |
| 114 | succeeding fiscal years as provided under s. 288.904(1)(j). |
| 115 | (4) PROGRAM ADMINISTRATOR.--Subject to appropriations, |
| 116 | Enterprise Florida, Inc., shall serve as program administrator. |
| 117 | Enterprise Florida, Inc., may contract for the performance of |
| 118 | all or some of its functions with a third party. Not more than |
| 119 | 10 percent of a legislative appropriation may be used for |
| 120 | administrative purposes. The responsibilities of the program |
| 121 | administrator include, but are not limited to: |
| 122 | (a) Establishing and coordinating the grant-selection |
| 123 | committee; |
| 124 | (b) Administering the grant-selection process, including, |
| 125 | but not limited to, issuing open-call requests for grant |
| 126 | applications and receiving, reviewing, and processing grant |
| 127 | applications; |
| 128 | (c) Serving as grant contract manager for recipients of a |
| 129 | matching grant; |
| 130 | (d) Reporting program progress and results and |
| 131 | programmatic recommendations for change to the statewide |
| 132 | advisory committee; |
| 133 | (e) Establishing a technical assistance network composed |
| 134 | of small business development centers, technology incubators, |
| 135 | and university technology transfer offices within the state. |
| 136 | Network members shall publicize the program and facilitate |
| 137 | participation in the matching grant program; and |
| 138 | (f) Establishing a mechanism by which information |
| 139 | regarding grant projects may be made available to facilitate |
| 140 | additional angel, seed, or venture capital investment. |
| 141 | (5) GRANT-SELECTION COMMITTEE.--The grant-selection |
| 142 | committee shall consist of not fewer than five members chosen by |
| 143 | the program administrator. The members must be experienced in |
| 144 | conducting, reviewing, and evaluating research and development |
| 145 | projects for commercialization potential or must have a |
| 146 | successful track record in developing technology |
| 147 | commercialization programs or managing investments in early |
| 148 | stage companies. The grant-selection committee must review grant |
| 149 | applications using adopted grant criteria, recommend grant |
| 150 | awards and grant amounts to the statewide advisory committee, |
| 151 | and perform other duties as required by the program |
| 152 | administrator. The amount of each grant awarded may not be less |
| 153 | than $100,000 and not more than $250,000. |
| 154 | (6) ELIGIBILITY GUIDELINES.-- |
| 155 | (a) An applicant for a research commercialization matching |
| 156 | grant must be a corporation that is registered with the |
| 157 | Secretary of State to operate in this state. If an applicant is |
| 158 | not based in this state, a grant award is contingent upon the |
| 159 | applicant successfully registering to do business in this state. |
| 160 | (b) An applicant must be a small company for which a state |
| 161 | matching grant is necessary for project development and |
| 162 | implementation. |
| 163 | (c) An applicant must have received a federal Small |
| 164 | Business Innovation Research Program or Small Business |
| 165 | Technology Transfer Program Phase I award and have received an |
| 166 | invitation to submit an application for a Phase II award. If a |
| 167 | Phase II award has already been issued, the end date of the |
| 168 | federal award must be identified and justification must be |
| 169 | provided as to how these additional funds will enhance, not |
| 170 | supplant, the existing award. |
| 171 | (d) An applicant must identify all sources of project |
| 172 | funding. Reported project funding must demonstrate that: |
| 173 | 1. At least 20 percent of the project's total funding must |
| 174 | come from the Federal Government. |
| 175 | 2. No more than 25 percent of the project's total funding |
| 176 | may be provided by the state grant. Funds from the state |
| 177 | matching grant program may not supplant or lessen the amount of |
| 178 | funds committed by other project partners. |
| 179 | 3. At least 25 percent of the project's total funding must |
| 180 | be provided by sources other than the state grant and the |
| 181 | Federal Government. Funding from the applicant or a partner may |
| 182 | be used to satisfy this requirement. External funds may consist |
| 183 | of cash or in-kind contributions. |
| 184 | (e) Projects funded by the matching grant program must be |
| 185 | conducted in this state. |
| 186 | (7) AWARDS.--The program shall make 20 to 30 awards, |
| 187 | ranging from $100,000 to $250,000 each, for a total of $5 |
| 188 | million. |
| 189 | Section 2. This act shall take effect upon becoming a law. |