FL H1381

Establishes the Technology Seed Capital Fund as a private nonprofit corporation under the Institute for the Commercialization of Public Research to provide seed-stage financing to early-stage technology companies in Florida.

Creates a five-person fund management committee to solicit proposals for investment managers through national solicitation and negotiate manager contracts with Institute board approval.

Requires fund investments to be matched 1-to-1 by private sector funding, limited to companies domiciled in Florida operating in targeted industries (life sciences, information technology, energy, clean technology, advanced manufacturing, aviation/aerospace, homeland security), with individual investments ranging from $30,000 to $300,000.

Restricts fund management committee members from investing in companies receiving fund support for 6 months after fund approval and caps annual administrative costs at 5 percent of total program appropriation.

Mandates annual reporting by December 1 to the Governor and Legislature detailing investment disbursements, businesses created, jobs generated, capital raised, and independently audited financial statements.