CS/HB 593

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; designating an existing Enterprise Florida, Inc.,
6	committee, or subcommittee thereof, for certain purposes;
7	providing that committee members shall serve without
8	compensation; requiring Enterprise Florida, Inc., to
9	provide staff support; providing a deadline for processing
10	applications; requiring annual reports to the Governor and
11	Legislature; providing applicant eligibility guidelines;
12	providing for a program administrator; providing
13	responsibilities of the program administrator; providing
14	for program administrative costs; designating a fiduciary
15	entity; providing for release of awards to qualified
16	applicants meeting requirements of fiduciary entity;
17	providing a per-project award cap; requiring the Office of
18	Program Policy Analysis and Government Accountability to
19	conduct a review and provide a report; providing a
20	recurring appropriation; 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 coming to this state which will produce the kind of
32	distinctive technologies that drive today's knowledge-based
33	economy. By leveraging federal, state, and private-sector
34	resources, the program intends to accelerate the innovation
35	process and more efficiently transform research results into
36	products in the marketplace.
37	(b)  The matching grant program is specifically intended to
38	be a catalyst for small or startup companies that can take
39	advantage of federal and state partnerships in order to
40	accelerate their growth and market penetration by helping to
41	overcome the funding gap faced by many small companies that are
42	based in this state. Specific goals and objectives of the
43	program 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 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 deal flow and enhancing the state's
59	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.--Enterprise Florida's Technology,
64	Entrepreneurship and Capital Committee, or a subcommittee
65	thereof with no less than seven members, shall develop
66	programmatic policy, ensure statewide applicability of the
67	matching grant program, establish criteria for grant awards,
68	approve grant awards, and review program progress and results.
69	(a)  Members of the committee shall serve without
70	compensation.
71	(b)  Enterprise Florida, Inc., shall provide staff support
72	for the committee.
73	(c)  Applications for matching grant awards must be
74	reviewed and approved or denied within 45 days after receipt of
75	application.
76	(d)  Beginning December 1, 2009, and annually thereafter,
77	the committee shall provide an annual report to the Governor,
78	the President of the Senate, and the Speaker of the House of
79	Representatives for the previous fiscal year.
80	(3)  ELIGIBILITY GUIDELINES.--A qualified applicant shall:
81	(a)  Be a business entity that is registered with the
82	Secretary of State to operate in this state. The qualified
83	applicant must also have its primary office and a majority of
84	its employees domiciled in Florida, and the principal research
85	activities must be conducted in the state.
86	(b)  Be a small company for which a state matching grant is
87	necessary for project development and implementation.
88	(c)  Have received a federal Small Business Innovation
89	Research Program or Small Business Technology Transfer Program
90	Phase I award and have received an invitation to submit an
91	application for a Phase II award. If a Phase II award has
92	already been issued, the end date of the federal award must be
93	identified and justification must be provided as to how these
94	additional funds will enhance, not supplant, the existing award.
95	(d)  Utilize federal, local, and private resources to the
96	maximum extent possible. Total project funding shall
97	demonstrate:
98	1.  Private sector investments to offset the total cost of
99	the project; and
100	2.  No more than 25 percent of the project's total funding
101	is provided by the state grant.
102	(e)  Projects funded by the matching grant program shall be
103	conducted in this state.
104	(4)  PROGRAM ADMINISTRATOR.--Subject to appropriations,
105	Enterprise Florida, Inc., shall serve as program administrator.
106	Enterprise Florida, Inc., may contract for the performance of
107	technology review and related functions with a third party. Not
108	more than 10 percent of a legislative appropriation may be used
109	for administrative purposes. The responsibilities of the program
110	administrator include, but are not limited to:
111	(a)  Coordinating and supporting the grant review,
112	approval, and contracting activities.
113	(b)  Administering the grant-selection process, including,
114	but not limited to, issuing open-call requests for grant
115	applications and receiving, reviewing, and processing grant
116	applications.
117	(c)  Serving as grant contract manager for recipients of a
118	matching grant.
119	(d)  Reporting program progress and results.
120	(e)  Establishing a mechanism by which information
121	regarding grant projects may be made available to facilitate
122	additional angel, seed, or venture capital investment.
123	(5)  FIDUCIARY.--Enterprise Florida, Inc., shall award
124	money to a qualified applicant if:
125	(a)  The committee approves the award;
126	(b)  The qualified applicant demonstrates that it has
127	obtained a federal Small Business Innovation Research Program or
128	Small Business Technology Transfer Program Phase II award; and
129	(c)  The qualified applicant executes a performance
130	contract with Enterprise Florida, Inc.
131
132	Enterprise Florida, Inc., shall release funds to a qualified
133	applicant upon completion of all contract requirements.
134	(6)  AWARDS.--The matching grant program may make one-time
135	awards up to $250,000 per project to a qualified applicant.
136	Section 2.  Prior to the 2013 Regular Session of the
137	Legislature, the Office of Program Policy Analysis and
138	Government Accountability shall conduct a review and evaluation
139	of the effectiveness and viability of the Florida Research
140	Commercialization Matching Grant Program. The office shall
141	specifically evaluate utilization of federal grants, private
142	investment, and the creation of new businesses and jobs. The
143	office shall also recommend outcome measures for further
144	evaluation of the program. The office shall submit a report of
145	its findings and recommendations to the Governor, the President
146	of the Senate, and the Speaker of the House of Representatives
147	no later than January 1, 2013.
148	Section 3.  The recurring sum of $4 million is appropriated
149	from the General Revenue Fund to Enterprise Florida, Inc., for
150	the 2008-2009, 2009-2010, 2010-2011, 2011-2012, and 2012-2013
151	fiscal years for the purpose of implementing s. 288.9552,
152	Florida Statutes.
153	Section 4.  This act shall take effect upon becoming a law.

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