Florida Senate - 2009 SB 634 By Senator Gaetz 4-00514-09 2009634__ 1 A bill to be entitled 2 An act relating to the Florida Research 3 Commercialization Matching Grant Program; creating s. 4 288.9552, F.S.; providing legislative findings and 5 intent; creating the program; designating an existing 6 committee, or subcommittee thereof, within Enterprise 7 Florida, Inc., for certain purposes; providing for 8 committee members to serve without compensation; 9 providing a deadline for processing applications; 10 requiring reports to the Governor and Legislature; 11 providing eligibility guidelines for applicants; 12 providing for a program administrator; providing 13 responsibilities of the program administrator; 14 providing for program administrative costs; 15 designating a fiduciary entity; specifying eligibility 16 requirements; providing for awards; requiring the 17 Office of Program Policy Analysis and Government 18 Accountability to conduct a review of the matching 19 grant program; requiring the office to submit a report 20 of its findings and recommendations to the Governor 21 and the Legislature; providing appropriations; 22 providing an effective date. 23 24 Be It Enacted by the Legislature of the State of Florida: 25 26 Section 1. Section 288.9552, Florida Statutes, is created 27 to read: 28 288.9552 Florida Research Commercialization Matching Grant 29 Program.— 30 (1) PURPOSE; GOALS AND OBJECTIVES; CREATION OF PROGRAM.— 31 (a) The purpose of the Florida Research Commercialization 32 Matching Grant Program is to increase the amount of federal 33 funding coming to this state which will produce the kind of 34 distinctive technologies that drive today's knowledge-based 35 economy. By leveraging federal, state, and private-sector 36 resources, the program intends to accelerate the innovation 37 process and more efficiently transform research results into 38 products in the marketplace. 39 (b) The matching grant program is specifically intended to 40 be a catalyst for small or startup companies that can take 41 advantage of federal and state partnerships in order to 42 accelerate their growth and market penetration by helping to 43 overcome the funding gap faced by many small companies that are 44 based in this state. Specific goals and objectives of the 45 program include: 46 1. Increasing the amount of federal research moneys 47 received by small businesses in this state through awards from 48 the Small Business Innovation Research Program and the Small 49 Business Technology Transfer Program of the Office of Technology 50 of the United States Small Business Administration. 51 2. Accelerating the entry of new technology-based products 52 into the marketplace. 53 3. Producing additional technology-based jobs for the 54 state. 55 4. Providing leveraged resources to increase the 56 effectiveness and success of applicants' projects. 57 5. Speeding commercialization of promising technologies. 58 6. Encouraging the establishment and growth of high 59 quality, advanced technology firms in the state. 60 7. Accelerating the rate of investment and enhancing the 61 state's investment infrastructure. 62 (c) The Florida Research Commercialization Matching Grant 63 Program is created for the purpose of accomplishing the goals 64 and objectives specified in this section. 65 (2) ADMINISTRATION.—Enterprise Florida's Technology, 66 Entrepreneurship and Capital Committee, or a subcommittee 67 thereof having no fewer than seven members, shall develop 68 programmatic policy, ensure statewide applicability of the 69 matching grant program, establish criteria for grant awards, 70 approve grant awards, and review program progress and results. 71 (a) Members of the committee shall serve without 72 compensation. 73 (b) Enterprise Florida, Inc., shall provide staff support 74 for the committee. 75 (c) Applications for matching grant awards must be reviewed 76 and approved or denied within 45 days after receipt of the 77 application. 78 (d) Beginning December 1, 2010, and annually thereafter, 79 the committee shall transmit an annual report to the Governor, 80 the President of the Senate, and the Speaker of the House of 81 Representatives for the previous fiscal year. 82 (3) ELIGIBILITY GUIDELINES.—A qualified applicant shall: 83 (a) Be a business entity that is registered with the 84 Secretary of State to operate in this state. The qualified 85 applicant must also have its primary office and a majority of 86 its employees domiciled in Florida, and the principal research 87 activities must be conducted in the state. 88 (b) Be a small company for which a state matching grant is 89 necessary for project development and implementation. 90 (c) Have received a Phase I award under the federal Small 91 Business Innovation Research Program or Small Business 92 Technology Transfer Program and have received an invitation to 93 submit an application for a Phase II award. If a Phase II award 94 has already been issued, the end date of the federal award must 95 be identified and justification must be provided as to how these 96 additional funds will enhance, not supplant, the existing award. 97 (d) Use federal, local, and private resources to the 98 maximum extent possible. Total project funding shall 99 demonstrate: 100 1. Private-sector investments to offset the total cost of 101 the project; and 102 2. Not more than 25 percent of the project's total funding 103 is provided by the state grant. 104 (e) Conduct the project funded by the matching grant 105 program in this state. 106 (4) PROGRAM ADMINISTRATOR.—Subject to appropriations, 107 Enterprise Florida, Inc., shall serve as program administrator. 108 Enterprise Florida, Inc., may contract for the performance of 109 technology review and related functions with a third party. Not 110 more than 10 percent of a legislative appropriation may be used 111 for administrative purposes. The responsibilities of the program 112 administrator include, but are not limited to: 113 (a) Coordinating and supporting the grant review, approval, 114 and contracting activities; 115 (b) Administering the grant-selection process, including, 116 but not limited to, issuing open-call requests for grant 117 applications and receiving, reviewing, and processing grant 118 applications; 119 (c) Serving as grant contract manager for recipients of a 120 matching grant; 121 (d) Reporting program progress and results; and 122 (e) Establishing a mechanism by which information regarding 123 grant projects may be made available to facilitate additional 124 investment by individual investors, investment for early start 125 up costs, or venture capital investment. 126 (5) FIDUCIARY.—Enterprise Florida, Inc., shall award money 127 to a qualified applicant if: 128 (a) The committee approves the award; 129 (b) The qualified applicant demonstrates that it has 130 obtained a Phase II award under the federal Small Business 131 Innovation Research Program or Small Business Technology 132 Transfer Program; and 133 (c) The qualified applicant executes a performance contract 134 with Enterprise Florida, Inc. 135 Enterprise Florida, Inc., shall release funds to a qualified 136 applicant upon completion of all contract requirements. 137 (6) AWARDS.—The matching grant program may make one-time 138 awards of up to $250,000 per project to a qualified applicant. 139 Section 2. Before the 2012 Regular Session of the 140 Legislature, the Office of Program Policy Analysis and 141 Government Accountability shall conduct a review and evaluation 142 of the effectiveness and viability of the Florida Research 143 Commercialization Matching Grant Program. The office shall 144 specifically evaluate the use of federal grants and private 145 investment and the creation of new businesses and jobs. The 146 office shall also recommend outcome measures for further 147 evaluation of the program. The office shall submit a report of 148 its findings and recommendations to the Governor, the President 149 of the Senate, and the Speaker of the House of Representatives 150 by January 1, 2012. 151 Section 3. The recurring sum of $4 million is appropriated 152 from the General Revenue Fund to Enterprise Florida, Inc., for 153 the 2009-2010, 2010-2011, and 2011-2012 fiscal years for the 154 purpose of implementing s. 288.9552, Florida Statutes. 155 Section 4. This act shall take effect July 1, 2009.