The Florida Technology Research Investment Fund wasestablished in 1993 as one of the Enterprise Florida Innovation's Partnership's Programs.The Fund invested in projects that have potential to generate marketable technologies bypartnering private companies with state research universities. OPPAGA's review determinedthe state received little benefit from the $1.2 million expended on this program. Only oneof 36 projects supported by the program developed a product that resulted in commercialsales and new jobs. Each of the 36 projects received state funding for several years undera predecessor program. Contracts with universities did not include royalty or equityprovisions which prevented the program from earning a return on successful projects.OPPAGA recommended the Legislature not fund the Technology Research Investment Fund unlessimprovements were made in the program's design and performance measurement system.