Request for Sealed Proposals for Private Fund Management
The Institute for Commercialization of Florida Technology (formerly known as the Institute for Commercialization of Public Research) requires the services of an individual, a company, an investment firm or an investment fund to act as a Private Fund Manager. Candidates responding to the RFP shall have experience in investing and managing investments in emerging growth companies in the State of Florida, in addition to other requirements, and shall further provide the Scope of Services referenced herein.
Proposal Due Date:
Thursday, August 16, 2018. 5:00 pm EST.
Point of Contact:
Teri Hart at firstname.lastname@example.org.
RFP Question Submission Deadline:
Questions regarding the process or the services requested under this RFP must be submitted via email to Teri Hart at email@example.com no later than Thursday, July 19, 2018, 5:00 pm EST.
RFP Responses to Questions:
Answers to all questions will be posted on the Institute website no later than Thursday, July 26, 2018, 5:00 pm EST.
Sealing and Marking the Proposal:
If your firm meets the minimum requirements (see pages 3-4 of the RFP), your proposal must be sealed in one package and clearly labeled “2018 Private Fund Management RFP” on the outside of the package.
Firm shall submit by the due date:
- One original signed version of its proposal clearly marked as “ORIGINAL.”
- Ten hard copies of the entire Proposal.
- One thumb-drive with an electronic copy (in .pdf format) of entire Proposal.
Proposal Delivery Location:
Proposals must be sealed and delivered in one package to the following location. Delivery of a proposal to any Institute location other than the location listed below does not constitute official receipt by the Institute.
Institute for Commercialization of Florida Technology
Attn: Teri Hart
3651 FAU Blvd., Suite 400
Boca Raton, FL 33431
Receipt of Proposal:
Proposals will be date and time stamped by the Institute upon receipt. If received by our office after the deadline, proposal will be deemed non-responsive.
RFP Schedule: These dates are estimates only and are subject to change by the Institute.
|RFP Posted on the Institute’s Website||Monday, June 25||5:00 PM|
|Question Submission Deadline||Thursday, July 19||5:00 PM|
|Responses to Questions Posted||Thursday, July 26||5:00 PM|
|Proposals Due||Thursday, August 16||5:00 PM|
|Proposals Opened||Monday, August 20||10:00 AM|
|Proposals Evaluated (selection of semi-finalists)||Monday, August 20||9:30 AM-1:30 PM|
|Semi-finalist Proposals Evaluated||Thursday, August 30||2:00 PM|
|Semi-finalist Question and Answer Session||Thursday, September 13||4:00 PM|
|Semi-finalist Presentations||Thursday, October 4||11:00 AM|
|Notice of Selected Firm(s) Posted on Institute's Website||Thursday, October 11||5:00 PM|
|Notice to Award Contract Posted||January 16, 2019||5:00 PM|
|Deadline to File Protest||January 24, 2019||5:00 PM|
|Contract Award Date||On or before January 31, 2019||5:00 PM|
Notice of Selection of Firm for Contract Negotiations:
The Board of Directors of the Institute for Commercialization of Florida Technology (the Institute) has selected Florida Funders as the firm with which to enter into contract negotiations to serve as the Private Fund Manager (PFM). The PFM will act on behalf of the Institute for certain investment-related purposes, to manage the Institute's portfolio of funded companies consistent with the best interests of the State and the Institute's mission to create a vibrant, innovation-based economy in Florida.
Notice to Award the Contract:
January 16, 2019
Term of Agreement:
The initial agreement term with the selected Firm(s) will be for a three (3) year period. The Institute will have the sole option to renew such agreement for additional one (1) year to three (3) year periods upon satisfactory performance by the Firm. The Institute may terminate the agreement for any of the reasons outlined in the RFP.
A protest regarding the selected Firm(s) must be received on or before five business days after the date the notice to award the contract is posted on the Institute’s website. The Board Chair shall have the authority to settle and resolve an award protest. If the bid protest is not resolved by mutual agreement, the Board Chair or her designee shall promptly issue a decision in writing. The decision shall specifically state the reasons for the action taken and inform the protestor of his/her right to challenge the decision. Any person aggrieved by any action or decision of the Board Chair or her designee with regard to any decision rendered under this section may appeal said decision by filing a lawsuit in the Circuit Court of the Second Judicial Circuit in and for Leon County, Florida, in accordance with the applicable court rules.