FL S0546

Expands the Institute for the Commercialization of Public Research to assist innovation businesses, publicly supported colleges and universities, and research institutes in commercializing products developed through research and development activities.

Authorizes the institute to create corporate subsidiaries and develop ownership, royalty, patent, or other interests in companies or products in connection with financing provided directly to client companies.

Permits the institute to charge fees for services provided to private companies and affiliated organizations if the service does not interfere with the institute's core mission and the products were developed by publicly supported research institutions.

Establishes the Florida Technology Seed Capital Fund as a corporate subsidiary with initial seed-stage investments ranging from $50,000 to $300,000 (requiring one-to-one private-sector match) and cumulative investment limits of $500,000 per company (requiring two-to-one private-sector match for additional investments).

Requires the institute to employ professional fund managers and establish an investor advisory board of venture capital professionals to manage the fund, evaluate proposals based on industry best practices, and provide value-added support services to approved companies.