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	amending s. 288.9625, F.S.; revising the purpose of the
13	Institute for the Commercialization of Public Research;
14	deleting a requirement that Enterprise Florida, Inc.,
15	contract with a state university to fulfill the purposes
16	of the institute; revising the institute's powers and
17	duties; requiring the institute to administer a matching
18	grant program to provide financial assistance for certain
19	early stage companies; providing an appropriation;
20	providing an effective date.
21
22	Be It Enacted by the Legislature of the State of Florida:
23
24	Section 1. Section 288.9552, Florida Statutes, is created
25	to read:
26	288.9552  Florida Research Commercialization Matching Grant
27	Program.-
28	(1)  PURPOSE; GOALS AND OBJECTIVES; CREATION OF PROGRAM.-
29	(a)  The purpose of the Florida Research Commercialization
30	Matching Grant Program is to increase the amount of federal
31	funding available to this state for producing the kind of
32	distinctive technologies that drive today's knowledge-based
33	economy. By leveraging federal, state, and private-sector
34	resources, the Legislature intends that the program accelerate
35	the innovation process and more efficiently transform research
36	results into products in the marketplace.
37	(b)  The Legislature specifically intends for the matching
38	grant program to be a catalyst for small or startup companies to
39	take advantage of federal and state partnerships in order to
40	accelerate their growth and market penetration by helping them
41	to overcome the funding gap faced by many small companies based
42	in this state. The specific goals and objectives of the program
43	include:
44	1.  Increasing the amount of federal research moneys
45	received by small businesses in this state through awards from
46	the Small Business Innovation Research Program and the Small
47	Business Technology Transfer Program of the Office of Technology
48	of the United States Small Business Administration.
49	2.  Accelerating the entry of new technology-based products
50	into the marketplace.
51	3.  Producing additional technology-based jobs for the
52	state.
53	4.  Providing leveraged resources to increase the
54	effectiveness and success of applicants' projects.
55	5.  Speeding commercialization of promising technologies.
56	6.  Encouraging the establishment and growth of high-
57	quality, advanced technology firms in the state.
58	7.  Accelerating the rate of investment and enhancing the
59	state's investment infrastructure.
60	(c)  The Florida Research Commercialization Matching Grant
61	Program is created for the purpose of accomplishing the goals
62	and objectives specified in this section.
63	(2)  ADMINISTRATION.-The Florida Institute for the
64	Commercialization of Public Research shall develop programmatic
65	policy, ensure statewide applicability of the matching grant
66	program, establish criteria for grant awards, approve grant
67	awards, and review the program's progress and results.
68	(3)  ELIGIBILITY GUIDELINES.-A qualified applicant must:
69	(a)  Be a business entity that is registered with the
70	Secretary of State to operate in this state. A qualified
71	applicant must also have its primary office and a majority of
72	its employees domiciled in the state, and its principal research
73	activities must be conducted in the state.
74	(b)  Be a small company for which a state matching grant is
75	necessary for project development and implementation.
76	(c)  Have received a Phase I award under the federal Small
77	Business Innovation Research Program or Small Business
78	Technology Transfer Program and have received an invitation to
79	submit an application for a Phase II award. If a Phase II award
80	has already been issued, the end date of the federal award must
81	be identified and justification must be provided as to how these
82	additional funds will enhance, not supplant, the existing award.
83	(d)  Use federal, local, and private resources to the
84	maximum extent possible. Total project funding must demonstrate
85	that:
86	1.  Private-sector investments offset the total cost of the
87	project; and
88	2.  At least 75 percent of the project's total funding is
89	from sources other than the state grant.
90	(e)  Conduct the project funded by the matching grant
91	program in this state.
92	(4)  PROGRAM ADMINISTRATOR.-Subject to legislative
93	appropriations, the Florida Institute for the Commercialization
94	of Public Research shall serve as program administrator. The
95	institute may contract for the performance of a technology
96	review and related functions with a third party. Not more than 5
97	percent of a legislative appropriation may be used for
98	administrative purposes. The responsibilities of the program
99	administrator include, but are not limited to:
100	(a)  Coordinating and supporting the grant review,
101	approval, and contracting activities;
102	(b)  Administering the grant-selection process, including,
103	but not limited to, issuing open-call requests for grant
104	applications and receiving, reviewing, and processing grant
105	applications;
106	(c)  Serving as grant contract manager for recipients of a
107	matching grant;
108	(d)  Reporting program progress and results; and
109	(e)  Establishing a mechanism by which information
110	regarding grant projects may be made available to facilitate
111	additional investment by individual investors, investment for
112	early start-up costs, or venture capital investment.
113	(5)  APPLICATION REVIEW.-An application for a matching
114	grant award must be reviewed and approved or denied within 45
115	days after receipt.
116	(6)  FIDUCIARY.-The Florida Institute for the
117	Commercialization of Public Research shall award a grant to a
118	qualified applicant if:
119	(a)  The qualified applicant demonstrates that it has
120	obtained a Phase II award under the federal Small Business
121	Innovation Research Program or Small Business Technology
122	Transfer Program; and
123	(b)  The qualified applicant executes a performance
124	contract with the institute.
125
126	The institute shall release the grant to a qualified applicant
127	upon completion of all contract requirements.
128	(7)  AWARDS.-The matching grant program may provide one-
129	time awards of up to $250,000 per project to a qualified
130	applicant.
131	(8)  REPORTING.-Beginning December 1, 2011, and annually
132	thereafter, the Florida Institute for the Commercialization of
133	Public Research shall submit a report relating to the grants
134	awarded under the program to the Governor, the President of the
135	Senate, and the Speaker of the House of Representatives for the
136	previous fiscal year.
137	Section 2.  Subsections (8) through (12) of section
138	288.9625, Florida Statutes, are renumbered as subsections (7)
139	through (11), respectively, and present subsections (2), (7),
140	(8), and (9) of that section are amended to read:
141	288.9625  Institute for the Commercialization of Public
142	Research.-There is established the Institute for the
143	Commercialization of Public Research.
144	(2)  The purpose of the institute is to assist in the
145	commercialization of products developed by the research and
146	development activities of universities and colleges, research
147	institutes, and publicly and privately supported organizations
148	within the state, and individuals. The institute shall operate
149	to fulfill its purpose and in the best interests of the state.
150	The institute:
151	(a)  Shall be a corporation primarily acting as an
152	instrumentality of the state pursuant to s. 768.28(2), for the
153	purposes of sovereign immunity;
154	(b)  Is not an agency within the meaning of s. 20.03(11);
155	(c)  Is subject to the open records and meetings
156	requirements of s. 24, Art. I of the State Constitution, chapter
157	119, and s. 286.011;
158	(d)  Is not subject to the provisions of chapter 287;
159	(e)  Shall be governed by the code of ethics for public
160	officers and employees as set forth in part III of chapter 112;
161	(f)  Is not authorized to create corporate subsidiaries;
162	(g)  Shall support existing commercialization efforts at
163	state universities; and
164	(h)  Shall not supplant, replace, or direct existing
165	technology transfer operations or other commercialization
166	programs, including incubators and accelerators, whether public
167	or private.
168	(7)  Enterprise Florida, Inc., shall issue a request for
169	proposals to state universities requesting proposals to fulfill
170	the purposes of the institute as described in this section and
171	provide for its physical location in a major metropolitan area
172	in the southern part of the state having extensive commercial
173	air service to facilitate access by venture capital providers.
174	Enterprise Florida, Inc., shall review the proposals in a
175	committee appointed by its board of directors which shall make a
176	recommendation for final selection. Final approval of the
177	selected proposal must be by the board of directors of
178	Enterprise Florida, Inc., at one of its duly noticed meetings.
179	(7)(8)(a)  To be eligible for assistance, the company or
180	organization attempting to commercialize its product must be
181	accepted by the institute before receiving the institute's
182	assistance.
183	(b)  The institute shall receive recommendations from any
184	publicly supported organization that a company that is
185	commercializing the research, technology, or patents from a
186	qualifying publicly or privately supported organization should
187	be accepted into the institute.
188	(c)  The institute shall thereafter review the business
189	plans and technology information of each such recommended
190	company. If accepted, the institute shall mentor the company,
191	develop marketing information on the company, and use its
192	resources to attract capital investment into the company, as
193	well as bring other resources to the company which may foster
194	its effective management, growth, capitalization, technology
195	protection, or marketing or business success.
196	(8)(9)  The institute shall:
197	(a)  Maintain a centralized location to showcase companies
198	and their technologies and products;
199	(b)  Develop an efficient process to inventory and
200	publicize companies and products that have been accepted by the
201	institute for commercialization;
202	(c)  Routinely communicate with private investors and
203	venture capital organizations regarding the investment
204	opportunities in its showcased companies;
205	(d)  Facilitate meetings between prospective investors and
206	eligible organizations in the institute;
207	(e)  Hire full-time staff who understand relevant
208	technologies needed to market companies to the angel investors
209	and venture capital investment community; and
210	(f)  Develop cooperative relationships with publicly and
211	privately supported organizations all of which work together to
212	provide resources or special knowledge that is likely to be
213	helpful to institute companies.
214	(g)  Administer a legislatively created matching grant
215	program to provide financial assistance for early stage
216	companies that have received federal funding and that may have
217	received private or other public financial assistance.
218	Section 3.  The sum of $4 million of nonrecurring funds is
219	appropriated from the General Revenue Fund to the Florida
220	Institute for the Commercialization of Public Research for the
221	purpose of implementing s. 288.9552, Florida Statutes, during
222	the 2010-2011 fiscal year.
223	Section 4.  This act shall take effect July 1, 2010.

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