Although the Innovation Incentive Program has invested over $449 million to bring seven major biotechnology research institutes to the state, this investment has not yet resulted in the growth of technology clusters in the counties where program grantees have established facilities. However, experts in the biotechnology industry agree that significant cluster growth often takes decades. While many factors related to biotechnology cluster growth are present in the state, such as a collegial and cooperative environment among stakeholders, Florida has limited early stage capital for beginning companies.
The Legislature could consider options to strengthen the program, including shifting its focus from attracting research institutes to providing early stage money for startup biotechnology companies. The Legislature could do so by authorizing grants to startup companies or by providing matching funds to companies that also receive grants from the federal Small Business Innovation Research and Small Business Technology Transfer Programs.

Florida Economic Development Program Evaluations - Year 1
Report 14-01 January 2014
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
Scripps Florida Funding Corporation Complies with Requirements and Should Be Continued
Report 09-36 October 2009

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.