“The US government buys more than $300 billion of goods and services annually,” Day adds. “We believe this will be a powerful engine for fast tracking the University’s technologies into the marketplace.”
This new program is illustrative of a paradigm shift in the way universities commercialize the outcomes of their research, from simply granting a license to working with the emergent companies to secure their viability after they’ve graduated from the incubator program.
In a challenging economic climate, the federal government has emerged as the most reliable and one of the largest sources of revenue opportunities for small businesses. By selling products to the federal government, these university-affiliated incubators can solidify their balance sheets, become profitable and, as such, become a strong investment target. This in turn helps the universities, which benefit from the support of new and innovative ideas from their researchers.
With nearly a half-century’s experience in the government contracting arena, G4i has successfully closed more than $3 billion in government contracts. Its largest wins in 2009 include portions of a $50 billion (Large Business) and $15 billion (Small Business) award for the GSA Alliant Contract to provide IT and telecom support worldwide; a $360 million award for the Army-Medcom IMAP Contract to provide nursing and ancillary medical services and a $350 million award with the Government of Guam for a landfill and waste incineration plant.
The Memorandum of Understanding also comes at an exciting time for UF’s Office of Technology Licensing, following the August announcement of the creation of the Florida Innovation Hub. A 45,000-square-foot facility funded by an $8.2 million federal Economic Devel
Copyright©2009 Vocus, Inc.
All rights reserved