From this report, the legislation now before you as S.B. 315 was developed. Throughout, our goal has been to meet the critical need for seed capital and to do so in a way that assures accountability, while at the same time protecting the confidentiality of sensitive proprietary company information. All of this must be done in a transparent environment in which administrators, policymakers and the general public can see a program in which everything is clear, fair and above board. Our review of these successful funds found eight factors common to all. These common factors are - A market large enough to generate sufficient deal flow.
Marketing helps generate deal flow.
The report discussed alternatives for funding, and found that -The most common alternative to public investment in technology development is the investment of retained earnings by large multinational corporations resident in the state. In this context, that is why the success of Senator Pat Roberts' Science, Technology and the Future Committee is an important corollary to what we talk about today. The report did discuss a model in use in Oklahoma which relies on stand-by tax credits. This approach, though having considerable appeal as a magnet to major investors, was rejected in development of S.B. 315 because it is a more complex model which introduces additional intermediaries into the process. Complexity reduces transparency - and transparency is a quality which Kansas, Inc. believes essential to creation of a model which will inspire public confidence and help heal the divisions of the past.