FL H1347

Creates the Florida Biotechnology Investment Matching Grant Program to increase federal funding for biotechnology research and accelerate commercialization of biotechnology products in the state.

Establishes Enterprise Florida's Technology, Entrepreneurship, and Capital Committee (minimum 7 members) to develop program policies, set award criteria, approve grants, and review program progress, with applications processed within 45 days.

Limits eligible applicants to biotechnology businesses registered in Florida with primary offices and majority of employees in-state that have received Phase I awards from the federal Small Business Innovation Research Program or Small Business Technology Transfer Program.

Provides one-time matching grants up to $100,000 per project, with state funding capped at 50 percent of total project costs; administrative costs limited to 10 percent of appropriations.

Appropriates $4 million recurring from the General Revenue Fund to Enterprise Florida for fiscal years 2010-2011 through 2012-2013, and requires an effectiveness evaluation report to the Legislature by January 1, 2013.