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Science Foundation Arizona Releases Investment Strategy
Science Foundation Arizona (SFAz) has released its strategic investment plan for fiscal year 2006-07, which includes grants to support university research, new high-tech businesses, and K-12 STEM education. The investment strategy will guide SFAz’s grant award decisions during its first year of operations and represents a starting point for the organization, which hopes to develop the plan into a long-term strategy for economic development.
The state’s 21st Century Fund, an initiative established by the governor and state legislature during the last session, provides public funding for SFAz’s grant programs. An initial allocation of $35 million will support SFAz’s five cornerstone programs, including:
- $18 million for Strategic Research Groups, which seed partnerships between research institutions and the private sector;
- $5 million for Competitive Advantage Awards between $100,000 to $400,000 to support in-state R&D;
- $4 million for Graduate Student Fellowships of up to $50,000 for as many as 80 science, math and engineering graduate students;
- $3.5 million for K-12 Student and Teacher Discovery research internships; and,
- $2 million for Small Business Catalytic (SBC) seed funding to commercialize new technologies.
An additional $2.5 million will support other related strategic initiatives and management of the programs. All grant awards will be based on open competition, and decisions will be made based on external peer review. Several of the programs will begin accepting proposals next month.
SFAz was established earlier this year by three Arizona chief executive officer (CEO) groups: Flagstaff 40, Greater Phoenix Leadership and the Southern Arizona Leadership Council. The nonprofit public-private partnership uses public and philanthropic funds to invest in education and strategic research opportunities that strengthen Arizona’s knowledge-based economy. SFAz President and CEO Dr. William Harris believes the organization’s first-year strategy is the first step in diversifying and expanding Arizona’s high-tech industries.
More details are available at http://www.sfaz.org.
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