Florida Senate - 2010 CS for SB 1472
By the Committee on Commerce; and Senator Detert
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; specifying procedures
6 for processing program applications; providing
7 eligibility guidelines for applicants; providing for a
8 program administrator; providing responsibilities of
9 the program administrator; providing for certain
10 contracts; providing for program administrative costs;
11 providing for grant awards up to a specified amount;
12 requiring the Institute for the Commercialization of
13 Public Research to submit an annual progress report of
14 the program to the Governor and Legislature; providing
15 for expiration of the grant program; providing an
16 effective date.
18 Be It Enacted by the Legislature of the State of Florida:
20 Section 1. Section 288.9552, Florida Statutes, is created
21 to read:
22 288.9552 Florida Research Commercialization Matching Grant
24 (1) PURPOSE; GOALS AND OBJECTIVES; CREATION OF PROGRAM.—
25 (a) The purpose of the Florida Research Commercialization
26 Matching Grant Program is to increase the amount of federal
27 funding to this state which will produce the kind of distinctive
28 technologies that drive today’s knowledge-based economy. By
29 leveraging federal, state, and private-sector resources, the
30 Legislature intends that the program accelerate the innovation
31 process and more efficiently transform research results into
32 products in the marketplace.
33 (b) The matching grant program is specifically intended to
34 be a catalyst for small or startup companies that can take
35 advantage of federal and state partnerships in order to
36 accelerate their growth and market penetration by helping them
37 to overcome the funding gap faced by many small companies that
38 are based in this state. Specific goals and objectives of the
39 program include:
40 1. Increasing the amount of federal research moneys
41 received by small businesses in this state through awards from
42 the Small Business Innovation Research Program and the Small
43 Business Technology Transfer Program of the Office of Technology
44 of the United States Small Business Administration.
45 2. Accelerating the entry of new technology-based products
46 into the marketplace.
47 3. Producing additional technology-based jobs for the
49 4. Providing leveraged resources to increase the
50 effectiveness and success of applicants’ projects.
51 5. Speeding commercialization of promising technologies.
52 6. Encouraging the establishment and growth of high
53 quality, advanced technology firms in the state.
54 7. Accelerating the rate of investment and enhancing the
55 state’s investment infrastructure.
56 (c) The Florida Research Commercialization Matching Grant
57 Program is created for the purpose of accomplishing the goals
58 and objectives specified in this section.
59 (2) ADMINISTRATION.—The Florida Institute for the
60 Commercialization of Public Research shall develop programmatic
61 policy, ensure statewide applicability of the matching grant
62 program, establish criteria for grant awards, approve grant
63 awards, and review program progress and results.
64 (3) ELIGIBILITY GUIDELINES.—A qualified applicant must:
65 (a) Be a business entity that is registered with the
66 Secretary of State to operate in this state. The qualified
67 applicant must also have its primary office and a majority of
68 its employees domiciled in Florida, and its principal research
69 activities must be conducted in the state.
70 (b) Be a small company for which a state matching grant is
71 necessary for project development and implementation.
72 (c) Have received a Phase I award under the federal Small
73 Business Innovation Research Program or Small Business
74 Technology Transfer Program and have received an invitation to
75 submit an application for a Phase II award. If a Phase II award
76 has already been issued, the end date of the federal award must
77 be identified and justification must be provided as to how these
78 additional funds will enhance, not supplant, the existing award.
79 (d) Use federal, local, and private resources to the
80 maximum extent possible. Total project funding shall demonstrate
82 1. Private-sector investments offset the total cost of the
83 project; and
84 2. Not more than 25 percent of the project’s total funding
85 is provided by the state grant.
86 (e) Conduct the project funded by the matching grant
87 program in this state.
88 (4) PROGRAM ADMINISTRATOR.—Subject to appropriations, the
89 Florida Institute for the Commercialization of Public Research
90 shall serve as program administrator. The institute may contract
91 for the performance of a technology review and related functions
92 with a third party. Not more than 5 percent of a legislative
93 appropriation may be used for administrative purposes. The
94 responsibilities of the program administrator include, but are
95 not limited to:
96 (a) Coordinating and supporting the grant review, approval,
97 and contracting activities;
98 (b) Administering the grant-selection process, including,
99 but not limited to, issuing open-call requests for grant
100 applications and receiving, reviewing, and processing grant
102 (c) Serving as grant contract manager for recipients of a
103 matching grant;
104 (d) Reporting program progress and results; and
105 (e) Establishing a mechanism by which information regarding
106 grant projects may be made available to facilitate additional
107 investment by individual investors, investment for early start
108 up costs, or venture capital investment.
109 (5) APPLICATION REVIEW.—An application for a matching grant
110 award must be reviewed and approved or denied within 45 days
111 after receipt.
112 (6) FIDUCIARY.—The institute shall award a grant to a
113 qualified applicant if:
114 (a) The qualified applicant demonstrates that it has
115 obtained a Phase II award under the federal Small Business
116 Innovation Research Program or Small Business Technology
117 Transfer Program; and
118 (b) The qualified applicant executes a performance contract
119 with the institute.
121 The institute shall release the grant to a qualified applicant
122 upon completion of all contract requirements.
123 (7) AWARDS.—The matching grant program may make a one-time
124 award of up to $250,000 per project to a qualified applicant.
125 (8) REPORTING.—Beginning December 1, 2011, and annually
126 thereafter, the institute shall transmit a report relating to
127 the grants awarded under the program to the Governor, the
128 President of the Senate, and the Speaker of the House of
129 Representatives for the previous fiscal year.
130 (9) EXPIRATION.—This section expires July 1, 2013, unless
131 reviewed and reenacted by the Legislature prior to that date.
132 Section 2. This act shall take effect July 1, 2010.