Orlando, FL – April 7, 2009- New cooperation agreements between the Florida Institute for the Commercialization of Public Research and University of Florida, University of Central Florida, Florida Agricultural and Mechanical University, and Florida Atlantic University will forge a strong partnership designed to commercialize technologies through new venture creation.

“The signing of these agreements marks a major milestone in the development of the Institute,” said its executive director, Gary Keller. A result of 2007 legislation, the Institute helps facilitate the creation of spin-off companies from technology developed at Florida’s publicly funded research institutions. “We look forward to working more closely with these institutions to accelerate company and job creation in the state of Florida,” Keller added.

To hasten the growth and success of commercially viable discoveries, the Institute pairs them with seasoned entrepreneurs -- “entrepreneurs-in-residence” -- who are seasoned business executives seeking their next opportunity. They work with pre-startup and startup companies emerging from state-funded research. These teams will support the necessary business development, management and funding needs required to advance these companies to the next stage toward successful development.

“We have already begun the process of assessing commercially viable technologies within Florida’s publicly funded research institutions, and matching those technologies to executives who will help take the inventions to market,” Keller explained. “We are working with all of Florida’s publicly funded research institutions to put the proper agreements in place. This streamlines the process and helps us move quicker toward our goal.”