The program is designed to increase the amount of federal research money received by small businesses in Florida through Phase I and Phase II awards from the Small Business Innovation Research Program (SBIR) and Small Business Technology Transfer Program (STTR) of the Office of Technology of the United States Small Business Administration. FRCMGP will be administered by the Institute for the Commercialization of Public Research (the Institute), who will oversee programmatic policy, ensure statewide applicability of the Matching Grant Program, establish criteria for grant awards, approve grant awards, and report annually on program progress and results.

The Institute is currently working with Florida's Office of Tourism, Trade and Economic Development and Enterprise Florida to finalize details of the program, and will announce a Request for Proposals in the coming weeks. Florida-based companies of which the Institute is knowledgeable of potential eligibility will receive notification directly from the Institute. These and other companies are welcome to check this site for updates on the application process.