FL H0705

Expands the Institute for the Commercialization of Public Research's purpose to include commercialization of products developed by innovation businesses, in addition to publicly supported universities and research institutes.

Authorizes the institute to create corporate subsidiaries and permits it to develop or accrue ownership interests in companies or products only in connection with financing provided directly to client companies.

Allows the institute to charge for services provided to private companies and affiliated organizations, provided services do not interfere with the institute's core mission.

Creates the Florida Technology Seed Capital Fund as a corporate subsidiary with professional managers and an investor advisory board to foster private-sector investment in early-stage start-up companies in target industries.

Establishes investment criteria requiring initial seed-stage investments between $50,000 and $300,000 with one-to-one private-sector matching, and cumulative company investments capped at $500,000 with two-to-one matching for additional investments; effective July 1, 2013.