Complete 2012 forensic audit documents - Kansas Bioscience ...

Kansas Bioscience Matching Fund Program
K.S.A. 74-99b84 created and established the Kansas Bioscience Matching Fund program to build
research excellence at Kansas’ universities, research institutions and bioscience companies by
matching research dollars from federal, private and other sources of funding. This matching
program is intended to leverage federal technology development grants, such as those available
through the Small Business Innovation Research program and the Small Business Technology
Transfer program to Kansas-based bioscience entities.
The program goals are to: 1) increase federal peer-reviewed research dollars and investments in
Kansas research institutions; 2) create academic centers of excellence in line with federal
opportunities and the existing Kansas high tech industrial base; and 3) increase research at
Kansas universities in areas critical to supporting a bioscience economy.
Funding is available to match large-scale federal R&D projects at academic institutions, such as
federally designated research centers that require matching funds. Technology development
awards may be granted to encourage commercialization of new products and technologies. The
matching program may match up to 50% of such awards. The 50% match is based on the
portion of the work being performed in Kansas. 29
An application must be submitted by the company which details the project and how it meets the
goals of the program, and includes a business plan, financial statements, capitalization chart,
budget, resumes of all principals, details of any partnerships with industry or institutions,
proposed budget for federal application and an economic impact statement.
Matching Fund applications are reviewed by KBA staff and, if appropriate, Investment
Recommendations are forwarded to the Investment Committee for review. If the Investment
Committee approves the recommendation, it is sent to the BOD for final action.
The funds awarded under the Matching Fund program are tied to specific milestones that must be
met and documented prior to the payment of funds. Reporting related to jobs created or retained,
commercialization or increased revenues, strategic partners, number of patents applied for and
granted, federal or third-party funding, capital expenditures and new start-up companies created
are periodically reported to KBA and are tracked as Outcomes of the investment.
Through June 30, 2011, 22 Matching Fund awards have been approved for funding in the
amount of $12,590,591. Through June 30, 2011, $5,108,332 had been paid. Please refer to
Exhibit 6 for a listing of the Matching Fund awards.
Kansas Bioscience Expansion and Attraction Program
KBA works closely with partners on the attraction, expansion and retention of bioscience
opportunities for Kansas. KBA has, at times, partnered with the Kansas Department of
Commerce, KTEC and regional economic development organizations on these projects. KBA
may offer qualifying companies direct financial assistance in the form of low-interest loans,
29 KBA website: http:// www.kansasbioauthority.org/how_we_can_help/Matching.aspx.
23