Contact:     Stuart Doyle
                            (407) 956-5689
 sdoyle@eflorida.com

Public research commercialization institute, universities partner
 for new venture creation

Public and private universities sign cooperation agreements
for statewide economic development

ORLANDO, FL – May 11, 2009 – The Florida Institute for the Commercialization of Public Research (The Institute) recently signed cooperation agreements with five more public and private institutions in Florida. 

 Florida State University, H. Lee Moffitt Cancer Center, Nova Southeastern University, University of Miami and University of South Florida joined the ranks of University of Florida, University of Central Florida, Florida A&M University and Florida Atlantic University, which previously signed agreements with the Institute.  These alliances aim to commercialize technologies through new venture creation based on publicly funded research.

  “These partnerships bring us that much closer to fulfilling our economic development mission of creating new companies and jobs based on research conducted at Florida universities and institutes,” explained Gary Keller, Institute executive director.  “Several other public and private universities and research institutions have signaled interest in working with us, and they will be coming on board in the coming months, bringing additional resources and commercially viable technologies to our portfolio.”

 To hasten the growth and success of commercially viable discoveries, the Institute pairs them with seasoned entrepreneurs -- “entrepreneurs-in-residence” -- who are experienced business executives seeking their next opportunity.  They work with pre-startup and startup companies emerging from state-funded research.  These teams will support the necessary business development, management and funding needs required to advance these companies to the next stage toward successful development. 

 For more information, contact:

About the Institute

The Florida Institute for the Commercialization of Public Research (The Institute) was established through legislation passed in 2007 to stimulate growth of science and technology-based companies in industries that are driving the global economy. Related initiatives include the availability of gap funding targeted towards universities to help take new ideas through the “proof of concept” stage, and the creation of the Florida Opportunity Fund for increased investment in existing, early-stage ventures. The Institute links the two, taking proven technologies from the universities and identifying funding and other resources required for commercial success. Senator Jeremy Ring (D- District 32) was instrumental in passing this legislation that promises to have a significant impact on Florida’s innovation economy.

 
*                      *                      *
 

Enterprise Florida Inc. is a partnership between Florida’s business and government leaders and is the principal economic development organization for the State of Florida. Headquartered in Orlando, Enterprise Florida’s mission is to create and retain quality jobs and increase economic opportunities for Floridians by supporting strong and growing businesses and positioning Florida as a globally competitive business location. In pursuit of its mission, Enterprise Florida works closely with a statewide network of economic development partners and is funded both by the State of Florida and by private-sector businesses.

#####