Bill > S1516

This bill establishes the International Aerospace Innovation Fund (IAIF), administered by Space Florida, to accelerate global aerospace innovation by supporting collaborative research, development, and commercialization efforts. The fund aims to develop partnerships between Florida-based and international aerospace companies, drive innovation in critical technology areas like space exploration and advanced manufacturing, and attract global investment to Florida's aerospace ecosystem. Space Florida will secure funding from multiple sources, including state appropriations, private sector investments, and potentially international contributions. The fund will require projects to meet specific eligibility criteria, such as involving at least one Florida-based aerospace company and forming partnerships with international aerospace companies, universities, space agencies, or research institutes. Projects will be competitively awarded based on merit, evaluated by a panel of aerospace experts, and must demonstrate commercialization potential. Space Florida is authorized to establish an application process, identify international partnerships, and negotiate bilateral agreements to support the fund's objectives. The bill modifies existing statutes to incorporate these new provisions and will take effect on July 1, 2025.

Budget and Finance

https://www.flsenate.gov/Session/Bill/2025/1516