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A bill to be entitled

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An act relating to the Florida Research Commercialization

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Matching Grant Program; creating s. 288.9552, F.S.;

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providing legislative findings and intent; creating the

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program; designating an existing committee, or

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subcommittee thereof, within Enterprise Florida, Inc., for

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certain purposes; providing for committee members to serve

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without compensation; providing a deadline for processing

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applications; requiring reports to the Governor and

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Legislature; providing eligibility guidelines for

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applicants; providing for a program administrator;

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providing responsibilities of the program administrator;

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providing for program administrative costs; designating a

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fiduciary entity; specifying eligibility requirements;

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providing for awards; providing an appropriation;

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providing an effective date.

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Be It Enacted by the Legislature of the State of Florida:

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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) ADMINISTRATION.--Enterprise Florida's Technology,

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Entrepreneurship and Capital Committee, or a subcommittee thereof

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having no fewer than seven members, shall develop programmatic

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policy, ensure statewide applicability of the matching grant

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program, establish criteria for grant awards, approve grant

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awards, and review program progress and results.

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     (a) Members of the committee shall serve without

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compensation.

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

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for the committee.

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     (c) Applications for matching grant awards must be reviewed

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and approved or denied within 45 days ofter receipt of the

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application.

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     (d) Beginning December 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) ELIGIBILITY GUIDELINES.--A qualified applicant shall:

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     (a) Be a business entity that is registered with the

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Secretary of State to operate in this state. The qualified

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applicant must also have its primary office and a majority of its

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employees domiciled in Florida, and the principal research

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activities must be conducted in the state.

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     (b) Be a small company for which a state matching grant is

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necessary for project development and implementation.

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     (c) Have received a federal Small Business Innovation

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Research Program or Small Business Technology Transfer Program

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Phase I award and have received an invitation to submit an

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application for a Phase II award. If a Phase II award has already

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been issued, the end date of the federal award must be identified

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and justification must be provided as to how these additional

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funds will enhance, not supplant, the existing award.

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     (d) Use federal, local, and private resources to the

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maximum extent possible. Total project funding shall demonstrate:

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     1. Private-sector investments to offset the total cost of

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the project; and

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     2. Not more than 25 percent of the project's total funding

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is provided by the state grant.

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     (e) Conduct the project funded by the matching grant

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program n this state.

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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

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technology review and related functions with a third party. Not

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more than 10 percent of a legislative appropriation may be used

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for administrative purposes. The responsibilities of the program

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administrator include, but are not limited to:

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     (a) Coordinating and supporting the grant review, approval,

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and contracting activities;

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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

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     (e) 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) FIDUCIARY.--Enterprise Florida, Inc., shall award money

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to a qualified applicant if:

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     (a) The committee approves the award;

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     (b) The qualified applicant demonstrates that it has

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obtained a federal Small Business Innovation Research Program or

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Small Business Technology Transfer Program Phase II award; and

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     (c) The qualified applicant executes a performance contract

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with Enterprise Florida, Inc.

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Enterprise Florida, Inc., shall release funds to a qualified

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applicant upon completion of all contract requirements.

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     (6) AWARDS.--The matching grant program may make one-time

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awards of up to $250,000 per project to a qualified applicant.

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     Section 2. The nonrecurring sum of $5 million is

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appropriated from the General Revenue Fund to Enterprise Florida,

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Inc., for the 2008-2009 fiscal year for the purpose of

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implementing s. 288.9552, Florida Statutes.

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     Section 3.  This act shall take effect upon becoming a law.