Oklahoma Innovation - New & Existing Businesses - Oklahoma Department of Commerce

Image of a Scientist in a Laboratory From concept to commercialization and on through the growth and expansion business cycle, Oklahoma supports its entrepreneurs and companies as they create new technologies, generate wealth, and innovate. Our state's future in the knowledge economy depends on the entrepreneurial fire sweeping through our world-class research facilities and in the basements and garages of individual inventors.

As we continue to build this section, it will highlight research and development efforts occurring across the state, feature entrepreneurs and businesses that have tapped into the state's many programs and services for technology development, and provide the information and resources needed by Oklahoma's innovators to move their ideas forward.

We start with an overview of the Oklahoma Center for the Advancement of Science & Technology (OCAST) and i2E -- two Oklahoma Department of Commerce partners at the forefront of technology development and commercialization -- as well as an overview of the state's new Creativity Project.

The Oklahoma Creativity Project | www.OKstartup.com

OCAST /i2E Frequently Asked Questions

Stay tuned to this page because more questions will be added as necessary to ensure we cover all the bases. Need an answer that's not here? No problem, you can reach OCAST staff at 866-265-2215 or 918-594-8118. To reach i2E, call 405-235-2305 or 918-582-5592.

Q. What is OCAST?

A. The Oklahoma Center for the Advancement of Science and Technology (OCAST) is the state's only agency focused solely on technology -- its development, transfer, and commercialization. OCAST uses state appropriations and partners with the private sector, higher education, CareerTech, and the Oklahoma Department of Commerce to provide support services and funds to help the state's technology entrepreneurs take their ideas from concept to commercialization.

Q. What is i2E?

A. i2E, a not-for-profit Oklahoma corporation, is under contract to OCAST to assist the state's technology entrepreneurs develop businesses and access start-up capital.

Q. How do OCAST and i2E relate?

A. OCAST contracts with i2E, using state appropriated funds, to operate the Oklahoma Technology Commercialization Center (OTCC), the OCAST Technology Business Finance Program (TBFP), and the Oklahoma Seed Capital Revolving Fund.

Q. When was OCAST started and why?

A. The Oklahoma Legislature created OCAST in 1987 during a time of financial stress to help diversify the state's economy by developing our technology infrastructure. OCAST's mission is to foster innovation in existing and developing businesses by supporting basic and applied research; facilitating technology transfer; providing seed capital for innovative firms and their products; and promoting manufacturing competitiveness through modernization.

In June 2006, OCAST started working with the Economic Development Generating Excellence (EDGE) Policy Board to administer the newly created, $150 million EDGE trust fund. EDGE is designed to provide funding for significant private and public applied research and development projects, technology transfer, and commercialization.

Q. When was i2E started and why?

A. i2E is a private, not-for-profit Oklahoma corporation focused on wealth creation by growing Oklahoma's technology-based entrepreneurial economy. Originally founded as the Oklahoma Technology Development Corporation, i2E was created to respond to an OCAST initiative to launch a technology commercialization assistance program.

i2E's mission is to generate home-grown economic development by fostering the birth and nurturing the growth of advanced technology companies in Oklahoma.

Q. What programs and services does OCAST offer?

A. OCAST offers a suite of programs designed to support the development of new technology from concept to commercialization and beyond. Basic and applied research programs include the Oklahoma Health Research Program (OHR); the Oklahoma Applied Research Support (OARS) Program; the Oklahoma Plant Sciences Research Program (OPSR); the R&D Intern Partnership Program (RDIP); the Small Business Research Assistance (SBRA) Program; and the Oklahoma Nanotechnology Applications Program (ONAP).

Technology commercialization programs include the Oklahoma Technology Commercialization Center (OTCC) managed by i2E, and the Oklahoma Inventors Assistance Service managed by Oklahoma State University.

Financing programs are the OCAST Technology Business Finance Program (TBFP) and the Oklahoma Seed Capital Revolving Fund managed by i2E. OCAST encourages technology application through manufacturing modernization through its support of the Oklahoma Manufacturing Alliance.

Q. What programs and services does i2E offer?

A. i2E provides entrepreneurship support services and access to capital services for new technology ventures. Through the Oklahoma Technology Commercialization Center, i2E works with Oklahoma companies, inventors, researchers, and entrepreneurs to turn technological innovation into business opportunities.

The Technology Business Finance Program provides pre-seed financing to qualified technology companies. The Oklahoma Seed Capital Revolving Fund provides seed- and start-up stage equity financing to small Oklahoma technology companies. i2E also supports the development of Oklahoma's future entrepreneurs through the Donald W. Reynolds Foundation Governor's Cup, a statewide business plan competition for Oklahoma college students.

Q. How do I access OCAST programs and services?

A. Call OCAST at 866-265-2215 or 918-594-8118 or visit www.ocast.state.ok.us.

Q. How do I access i2E programs and services?

A. Call i2E in Oklahoma City at 405-235-2305 or in Tulsa at 918-582-5592 or visit www.i2E.org.

Q. What impact has OCAST had on the state and its economy?

A. Since 1987, OCAST has invested $138.6 million in Oklahoma research, development, technology commercialization, and manufacturing modernization through the Oklahoma Manufacturing Alliance. With this funding, it has attracted nearly $2.4 billion in private investments and federal funding.

Q. What impact has i2E had on the state and its economy?

A. Since 1998, nearly 300 small businesses have successfully completed i2E's access-to-capital process and have been introduced to its investor network. More than 100 of those companies have secured more than $261 million in investment capital.

Q. Where is OCAST located?

A. OCAST offices on the ground floor of building 755 in Suite 110 within the Presbyterian Health Foundation Research Park near downtown in Oklahoma City. In Tulsa, OCAST offices with the Oklahoma Department of Commerce on the OSU-Tulsa campus, Main Hall, 700 N. Greenwood Avenue, Suite 1400.

Q. Where is i2E located?

A. Oklahoma City office: Presbyterian Health Foundation Research Park, 840 Research Parkway, Suite 250, Oklahoma City, OK 73104, 405-235-2305. Tulsa office: Williams Tower II, 2 West Second Street, Suite 210, Tulsa, OK 74103, 918-582-5592.