In recent years, Florida has aggressively pursued developing the state's biotechnology industry using a multi-faceted approach. This approach has included recruiting major biotechnology research institutes such as Scripps Florida, the Burnham Institute, and the Torrey Pines Institute, as well as promoting the development of existing biotechnology companies through research and commercialization activities at state research universities and by establishing business incubators.
Florida's initiatives hold great promise and address many of the identified factors that have contributed to successful biotechnology development programs in other states. However, Florida faces some challenges in developing a strong biotechnology industry, including limited early stage capital for new start-up biotechnology companies. The Legislature may wish to consider creating a privately managed early stage capital fund that invests in start-up biotechnology companies similar to those administered by other states. If the Legislature decides to create such a program, it should require the entity administering the program to establish performance measures and standards and routinely provide performance reports.
Further, Florida lacks comprehensive information on the overall costs and effectiveness of its biotechnology initiatives. The Legislature should make Enterprise Florida, Inc., responsible for preparing a statewide performance report on the various initiatives' costs and effectiveness.

Florida's Biotechnology Industry Is Expanding; Cluster Growth Continues to Slowly Progress
Report 13-06 March 2013
Research Commercialization Matching Grant Program Underway; Additional Performance Data Needed
Report 11-20 November 2011
Biotechnology Clusters Developing Slowly; Startup Assistance May Encourage Growth
Report 10-05 January 2010

Copies of this report in print or alternate accessible format may be obtained by email OPPAGA@oppaga.fl.gov, telephone (850) 488-0021, or mail 111 W. Madison St., Room 312 Tallahassee, FL 32399-1475.