New & Existing Business

R&D and Seed Capital

From an economic development standpoint, research and development involves developing new knowledge about products, processes, and services, and then applying that knowledge to create new and improved products, processes, and services for the market.

This process often involves partnering between a research-oriented university and a more commercially focused business enterprise.
In Oklahoma, the commercialization of technology receives support from state-funded groups that encourage and solicit commercialization as a means to continuously fill the state’s pipeline of evolving industries.

Capital comes from OCAST and i2E. These organizations may award seed capital for especially promising projects that meet their guidelines. This money can be used for initial investment in a project or startup company, for proof-of-concept, market research or initial product development.

Jump to OCAST
Jump to i2E

Oklahoma Center for the Advancement of Science and Technology (OCAST)

The Oklahoma Center for the Advancement of Science and Technology (OCAST) works to grow Oklahoma’s knowledge-based economy by building the infrastructure of expertise and equipment needed to conduct nationally competitive research and development in Oklahoma and stimulate Oklahoma firms applying and producing technology. OCAST implements programs and initiatives to impact the entire technology development pipeline from basic research through commercialization and application.
The center supports research and development; facilitates technology transfer and commercialization; stimulates seed-capital investment and encourages manufacturing.

OCASToffers services including:

  • Seed funds for human health research
  • Matching funds for research with commercial potential
  • Assistance with the cost of preparing federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) proposals
  • Modernization assistance for small and medium-sized Oklahoma manufacturers
  • Information on federal research and technology transfer opportunities for businesses
  • Assistance with accessing and using federal and state technology resources.

OCAST sponsors the following programs:

  • Oklahoma Health Research Program
  • Oklahoma Applied Research Support Program
  • Small Business Research Assistance
  • OARSR&D Faculty and Student Intern Partnerships
  • Oklahoma Alliance for Manufacturing Excellence, Inc.
  • Oklahoma Technology Commercialization Center (managed by i2E)
  • OCASTTechnology Business Finance Program (managed by i2E)
  • Oklahoma Inventors Assistance Service
  • Oklahoma Seed Capital Revolving Fund (managed by i2E)

In June 2006, OCASTstarted administering a $150 million Economic Development Generating Excellence trust fund (EDGEFund), created to increase private and public applied research and development, technology transfer, and technology commercialization in Oklahoma.

Eligibility
Oklahoma businesses, higher education institutions or nonprofit research foundations engaged in technology projects with the potential to develop marketable products, processes or services are eligible.

Application Process
Project proposals are submitted to OCAST, then evaluated and ranked for funding by reviewers with scientific and business expertise. Awards are granted through a competitive process.

Contact
Oklahoma Center for the Advancement of Science & Technology
755 Research Parkway, Suite 110
Oklahoma City, OK 73104
(866) 265-2215 or (405) 524-1357
http://www.ocast.state.ok.us

Jump to top of page

i2E

i2E was created in 1997 in response to the Oklahoma Center for the Advancement of Science and Technology’s (OCAST) initiative to establish a center to support technology commercialization.

As a full-service technology commercialization center, i2E provides, through its various programs, Oklahoma companies with essential strategic planning assistance, networking opportunities, and access to capital.

Periodic reviews of our operations by national experts have continuously confirmed that i2E is a model for technology-based economic development. More than 35 states and communities, both domestic and foreign, have visited our organization or sponsored presentations by i2E leadership to learn about us and our methods.

i2E manages the following programs:

  • Oklahoma Technology Commercialization Center (OTCC) assists researchers, inventors, entrepreneurs and companies to turn advanced technologies and high-tech start-up companies into exceptional business opportunities for Oklahoma. It provides statewide access to specialized business development services and works closely with both private and public sector technology experts. Through its Commercialization Process, OTCC has become a nationally recognized model for assisting entrepreneurs. More than 1100 companies have been assisted by the OTCC since inception in late 1998. It has assisted more than 600 project clients and 290 of those companies have successfully completed the staged access to capital process to introduce their investment opportunity to our investor network. More than 85 of those companies have acquired $250 million in investment capital.
  • OCAST Technology Business Finance Program (TBFP) is designed to provide Oklahoma-based, advanced technology start-up companies with pre-seed financing and early stage risk capital to stimulate additional investments from private sources.
  • Oklahoma Seed Capital Revolving Fund, a $5 million fund designed to provide seed capital funding for Oklahoma entrepreneurs, start-up businesses, and expanding companies to develop, refine, and commercialize a product, process or innovation.

Eligibility for all i2E Programs
Oklahoma businesses, higher education institutions or nonprofit research foundations engaged in technology projects with the potential to develop marketable products, processes or services are eligible.

Application Process
Project proposals are submitted to i2E, then evaluated and ranked for funding by reviewers with scientific and business expertise. Awards are granted through a competitive process.

Contact
i2E
Presbyterian Health Foundation Research Park
840 Research Parkway, Suite 250
Oklahoma City, OK 73104
800-337-6822
405-235-2305 Phone
405-235-2252 Fax

i2E
2 West Second Street, Suite 210
Tulsa, OK 74103
918-582-5592 Phone
918-582-3392 Fax
http://www.i2e.org

Jump to top of page