FL S1730

Creates the Technology Seed Capital Fund as a private nonprofit corporation managed by the Institute for the Commercialization of Public Research with a five-person fund management committee.

Requires private sector to match fund investments at least 1-to-1 before the fund invests, with individual investments ranging from $30,000 to $300,000.

Restricts fund investments to Florida-domiciled companies operating in targeted industry clusters including life sciences, information technology, energy, clean technology, advanced manufacturing, aviation and aerospace, and homeland security.

Caps administrative costs at 5 percent of total program appropriation and requires all earnings be reinvested in the fund for additional seed capital.

Appropriates $25 million in nonrecurring General Revenue Fund money to establish and administer the fund, effective July 1, 2011.