A Small Business Innovation Research incentive program will encourage small businesses to explore their technological potential and maximize profit from commercialization. DCI will match all Phase 1 federal awards received by Kentucky businesses after January 1, 2006 and all Phase 2 federal awards received after January 1, 2007. This would include matching awards of up to $100,000 to support Phase 1 exploration of the technical merit or feasibility of an idea or technology. Phase II federal awards, which support full-scale research and development, can be up to $750,000, and would be matched by the Commonwealth up to the first $500,000. There are also Phase 0 and Phase 00 awards programs currently in place.

A statewide Business Plan Competition and Award will encourage entrepreneurship and develop new high-growth ventures in the Commonwealth. The winner(s) will receive a cash award of up to $100,000.

A statewide Science and Technology Assets Database will combine all statewide science assets and capabilities within the Commonwealth. The comprehensive, searchable database can be used by businesses in Kentucky and other states to facilitate existing and new business opportunities between companies.

A statewide Life Sciences and Biotechnology Assessment will include a fast-start technology commercialization and innovation strategy and biosciences assets database (the database would be combined with the database above). The assessment will help develop specialized insight into the Commonwealth’s biotechnology industry in order to facilitate building internal competencies, identifying growth opportunities, and implementing strategies to overcome challenges in the innovative life sciences sector.

A statewide Nanoscience Analysis and Strategic Plan will be developed to implement a fast-start technology commercialization and innovation strategy. The analysis will be similar to the assessment described above for Life Sciences and Biotechnology, but would focus on nanoscience. Since nanoscience is a “cross-cutting” technology that involves virtually every other area of science, the analysis and plan will also look at related areas of information technology and communications, environmental and energy technology, and materials science and advanced manufacturing.

The Kentucky Life Sciences Commercialization Program addresses one of the key recommendations from the Governor’s Life Sciences/Biosciences Consortium Report in 2005. That recommendation called for enhancing Kentucky’s current statewide biotechnology commercialization program to more adequately address the needs of the Life Sciences disciplines. Consequently, existing biotechnology commercialization efforts were expanded under the direction of the Cabinet for Economic Development’s Department of Commercialization and Innovation. In 2005, these efforts included providing a grant for $750,000 to MetaCyte Business Lab, a biotechnology incubator, to help create new biotech companies and to hire the expertise needed to assist these start-up firms. Also in 2005, the Department of Commercialization and Innovation provided over $1 million to support the Center for Pharmaceutical Science & Technology. The Center’s new 20,000 square-foot pharmaceutical manufacturing facility will bring in high-skill, high-wage jobs.

A Strategic Analysis of Technologies will be conducted to provide a reevaluation of Kentucky’s top science and technology assets and capabilities (other than the biosciences) as identified in the 2002 Strategic Plan. This will ensure commercialization and innovation initiatives are aligned with the Commonwealth’s technological resources.