2023 OCAST Annual Innovation Report

OCAST Annual Innovation Report

TURNING PAGES, MAKING PLAYS; OKLAHOMA’S INNOVATION GAME PLAN

MISSION OCAST’S MISSION IS TO ENHANCE AND DIVERSIFY OKLAHOMA’S ECONOMY, AND TO CREATE NEW AND IMPROVED JOB OPPORTUNITIES FOR OKLAHOMANS

BY FOSTERING THE CREATION OF INNOVATIVE PRODUCTS, PROCESSES, AND INDUSTRIES WITHIN THE STATE. What You Can Expect From the Report Oklahoma Center for the Advancement of Science and Technology (OCAST) Annual Report offers insight into the transformative impact of strategic investment in technology and innovation through the dynamic landscape of entrepreneurship fostered by OCAST. Read compelling narratives spotlighting groundbreaking startups to established enterprises that have received vital funding and support from OCAST in the Innovation in Action section.

Learn about topics from funding research opportunities to providing business assistance programs and about how OCAST plays a central role in driving economic growth and fostering technological advancement in the state. Explore resources available 2

to entrepreneurs, researchers, and businesses seeking to harness innovation for competitive advantage and societal benefit.

This report includes OCAST’s broader initiatives, the U.S. Treasury State Small Business Credit Initiative (SSBCI), Impact Report data illustrating the organization’s contributions to Oklahoma’s economy, last year’s Innovation Expo and highlights from the Innovate That podcast featuring insightful conversations with industry leaders and innovators. OCAST is the convergence of creativity, collaboration, and cutting-edge technology that defines Oklahoma’s innovation ecosystem.

INNOVATION PLAYBOOK GUIDE Active Intern Position: Positions counted if slated for funding during the survey period.

Average Wage of FT Jobs Created: Average annual wage of full-time jobs created during the survey period.

Average Wage of FT Jobs Retained: Average annual wage of full-time jobs retained during the survey period.

Companies Formed: Count of spin-out companies formed as a result of the OCAST project.

Follow-on Funds Attracted: The total funding awarded to the contractor due to OCAST support during the survey period, excluding OCAST funds, matching funds, and other state appropriations.

Full-time Jobs Created: Number of full-time jobs created as a result of this project.

Gross Sales Impact: Total dollar impact on gross sales as a result of the project (no time frame referenced).

Patents Granted: Number of patents awarded, any OCAST project.

Survey Period: 8/1/22 - 7/31/23.

Surveyed: Count of individual projects funded during the previous seven years.

Total Payroll of Jobs Created: Total annual payroll of all jobs (FT and PT) created during the survey period.

Total Payroll of Jobs Retained: Total annual payroll of all jobs (FT and PT) retained during the survey period.

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LETTER FROM THE EXECUTIVE DIRECTOR As we turn the pages of our collective journey in innovation, I am thrilled to present this year’s annual innovation report, titled “Turning Pages; Making Plays: Oklahoma’s Innovation Game Plan.”

This theme captures the dynamic and forward-thinking spirit that defines our community, showcasing our progress and setting the stage for the future.

In this report, you will find a comprehensive overview of the strategic initiatives and groundbreaking projects that have propelled Oklahoma to the forefront of innovation. We have focused on fostering a vibrant ecosystem where ideas can flourish and industries can thrive. Our commitment to excellence and collaboration has yielded impressive results, demonstrating the power of a united effort in driving technological advancement and economic growth.

Jennifer McGrail Executive Director

to progress and excellence. Together, we As you explore this report, I encourage you are not only making plays but also setting new benchmarks for innovation. to reflect on the collective achievements of our innovation community. Every page Thank you for your continued support turned and every play made in this game plan underscores our shared commitment and dedication to advancing Oklahoma’s innovation landscape. Together, we will continue to turn pages, make plays, and write the next chapter of success.

“Together, we are not only making plays but also setting new benchmarks for innovation.”

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OKLAHOMA INNOVATION IN ACTION

OCAST FUELS PARA NANO-TECH BREAKTHROUGHS ParaNano Wound Care, a proud Oklahomabased startup, has solved a critical problem in the wound care industry with The Bio-Z™ Smart Bandage. Currently, there is an enormous gap when a patient goes home, as there is no way to continuously monitor the wound for rising bacterial load, which leads to infection.

The Bio-Z™ kit addresses this issue by going directly on top of the wound and changing color in response to rising bacterial load, indicating an early infection without the need for wires, batteries, or cumbersome devices. The Bio-Z™ provides continuous wound monitoring so that both a patient and caregiver of any skill level can detect early infection in any setting. This is truly smart wound care.

ParaNano Wound Care has been able to make significant progress by utilizing the New Product Development Center at OSU, the Oklahoma Manufacturering Alliance, OK Catalyst, Technology Business Finance Program, and the Industry Innovation Initiative (formally OARS) funding program.

“OCAST has played a pivotal role in our success, providing direct support and funding for programs and initiatives we’ve utilized over the years.”

- Chelsea Luxen

Co-Founders of Para Nano Chelsea Luxen (CEO) & Maurice Haff (CTO)

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OKLAHOMA INNOVATION IN ACTION

OCAST FUNDS NANO TECH: NITRO-LIFT TRANSFORMS OKLAHOMA OIL RECOVERY Nitro-Lift Technologies specializes in oilfield services with a focus on nitrogen and specialty chemicals. These technologies are specifically designed to optimize oil extraction from tight shales, sandstone, and carbonate reservoirs prevalent in Oklahoma.

“OCAST has been pivotal in advancing our NanoFluids research and enhancing oil recovery, marking a significant step forward in the industry’s innovation” - Danny Daniels The OCAST-funded project has yielded significant results, with approximately 100 case studies showcasing the practical applications derived from the research.

Nitro-Lift Technologies expresses profound gratitude to OCAST for their pivotal role in advancing scientific knowledge and technological innovations in the field of NanoFluids and enhanced oil recovery from tight reservoirs.

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Nitro-Lift in the lab

Nitro-Lift in the field

OKLAHOMA INNOVATION IN ACTION

FAST FOAM SUPPRESSION OCAST BOOSTS FIRE SAFETY: FAST FOAM SUPPRESSION INNOVATES IN OKLAHOMA As leaders in the industry, Fast Foam Suppression System specializes in developing and implementing state-ofthe-art foam systems that provide rapid and effective fire suppression for a variety of applications, including agricultural, industrial, and commercial environments.

“OCAST’s support has been instrumental in realizing our vision of revolutionizing fire safety in Oklahoma.”

Fast Foam Suppression System

- Joe Buchanan In recognition of their groundbreaking work and potential for significant impact, Fast Foam Suppression was selected as a participant in the prestigious Farm Bureau Accelerator program. This accolade highlights the company’s commitment to innovation, excellence, and its role in advancing safety standards within the fire suppression industry.

Fast Foam Suppression System

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OCAST PROGRAMS & SERVICES OCAST Industry Innovation Initiative Formerly known as OARS, OCAST provides matching funds of up to $500,000 to companies spearheading innovative projects with the potential to generate economic impact in Oklahoma.

STEM Intern Partnership Companies can receive up to $30,000 per year for a duration of two years that requires 1-1 match.

Small Business Research Assistance In partnership with OK Catalyst, OCAST provides no-cost training and mentorship programs to help small businesses find funding opportunities and create compettive proposals.

Oklahoma Technology Commercialization Center In partnership with i2e, equips companies with resources to commercialize technologies and grow tech-based entrepreneurial ventures thoughout Oklahoma.

Build in Tulsa techstars_ Demo Day Techstars + Founders

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Manufacturing Assistance In partnership with Okahoma Manufacturing Alliance (OMA), a network of trusted experts work with manufacturers to help them grow and evolve. When manufacturers are strong, communities prosper and our state’s economy thrives. OMA serves as the primary resource, advocate and voice for manufacturing in OKlahoma.

Investor’s Assistance Service In partnership with New Product Development Center (NPDC), with centers located on the OSU-Stillwater & OSU-Tulsa campuses, NPDC provides guidance and resources for Oklahoma’s inventors in the areas of patent research, engineering & design assistance, and prototype generation.

Oklahoma Seed Capital Fund OCAST provides the Oklahoma Seed Capital Fund, that allows for concept, seed, and start-up investments for innovative businesses in Oklahoma.

OCAST INVESTMENT ACCELERATORS The Oklahoma Accelerator Program was funded by the Oklahoma Legislative and designed to create a network of accelerators, which will create new Oklahoma companies.

Oklahoma City Investment Accelerator In Oklahoma City, OCAST partners with gener8tor a nationally-ranked venture capital firm and accelerator. Each cohort of startups receive 12-weeks of mentorship-driven programing and funding opprotunities.

Tulsa Investment Accelerator In Tulsa, OCAST TechStars to offer the Build in Tulsa (BIT) accelerator. BIT supports entrepreneurs at every stage of their journey, working to create positive social and economic change, and transforming the world by making innovation accessible to anyone, anywhere.

Oklahoma Farm Bureau’s Demo Day Speaker: Joe Wicker, Jr. | 33 Processing

Rural Accelerator Across rural Oklahoma, OCAST partners with the Oklahoma Farm Bureau to offer programming specific to the needs of smaller communities.

The Activate Oklahoma program is for rural businesses with innovating enhancing economic opportunities. AgCelerate is focused on farm innovations diversifying opportunities for farmers. gener8tor’s Demo Day (Founders) Cohort 1

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U.S. TREASURY SMALL BUSINESS CREDIT INITIATIVE (SSBCI) OCAST has received U.S. Treasury State Small Business Credit Initiative (SSBCI) funding to enhance access to capital for startups and small businesses in Oklahoma.

Oklahoma Business Lending Partnership Program (OBLP)

$32.7M The Oklahoma Business Lending Partnership Program will provide nondilutive loans to businesses in Oklahoma. Administered by

TEDC Creative Capital.

Oklahoma Venture Capital Investment Program (OVCI)

$49M The Oklahoma Venture Capital Investment program is set to strengthen the state’s economy and incentivize the growth of private venture capital in Oklahoma by investing SSBCI dollars in Oklahoma based venture funds.

Participating Funds: • 46Ventures • Boyd Street Ventures • Cortado Ventures • Oklahoma Life Sciences Fund (OLSF)

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SSBCI Technical Assistance Partnership Program The OCAST SSBCI Technical Assistance (SSBCI TA) Partnership offers legal, accounting, and financial advisory services to socially and economically disadvantaged individual (SEDI)-owned very small businesses (VSBs), as well as those in underserved populations and rural Oklahoma. The overarching goal is to prepare SEDI- and VSB-based companies for application to Oklahoma’s SSBCI capital programs, state programs, and other federal programs.

SSBCI TA program has now fully received funding and is fully established, ready to serve the community. The technical assistance includes a variety of courses, deep-dive sessions, and one-on-one mentoring and coaching, provided by a network of Oklahoma support providers including gener8tor, Oklahoma Farm Bureau, and the Oklahoma Minority Founders Accelerator, alongside legal consulting services from Oklahoma City University.

OKLAHOMA SSBCI QUICK FACTS 100% of SSBCI funds allocated to Oklahoma will remain in Oklahoma

SSBCI dollars for investments and for loans require $1 for $1 match of private capital

$16.6M of the SSBCI funds must be dedicated to socially and economically disadvantaged individuals (SEDI)-owned businesses

$4.1M must be dedicated to very small businesses (VSB) – 10 employees or less

For more information about US Treasury SSBCI Funds, scan the code.

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FISCAL YEAR 2O23 IMPACT SURVEY JULY 01, 2022 - JUNE 30, 2023

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NUMBER OF NEW COMPANIES FORMED

118 PATENTS ISSUED

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# OF PROJECTS RESULTING IN PATENT APPLICATION

$74.1M TOTAL PAYROLL CREATED & RETAINED

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63 # OF ACTIVE INTERN POSITIONS

JOBS CREATED & RETAINED (FT + PT)

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FISCAL YEAR 2O23 IMPACT SURVEY JULY 01, 2022 - JUNE 30, 2023

$305,2 IMPACT ON GROSS SALES

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243,619 $165,777,931 FOLLOWON FUNDS ATTRACTED

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Listen here!

Lt. Gov. Matt Pinnell Host 16

INNOVATE THAT PODCAST...

A PRODUCTION OF OCAST Innovate That is a podcast hosted by Oklahoma Lieutenant Governor Matt Pinnell, showcases the cutting-edge individuals and companies driving Oklahoma’s vibrant science and technology industries. From aerospace and bioscience to cybersecurity and the metaverse, Oklahoma leads the way in technological advancement in the United States.

PREVIOUS GUESTS

TEDC Creative Captial

Cortado Ventures

AAON, Inc.

The Verge OKC + The Strate Center at Autry Technology Center

36 Degrees North

gener8tor- Cohort gener8tor

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2023 RECAP: OKLAHOMA INNOVATION EXPO Innovation Day at the Capitol brought together Oklahoma’s top innovators, providing a unique platform for them to showcase their groundbreaking work to the state legislature and general public. This inaugural annual event highlighted the diverse and dynamic innovation landscape in Oklahoma, with exhibits from leading companies, research institutions, and entrepreneurial ventures. Notably, the event also featured student interns who shared their fresh perspectives and innovative projects, underscoring the importance of providing opportunities to engage STEM talent in driving future advancements.

MID-AMERICA INDUSTRIAL PARK (MAIP) SCOTT FRY, DIRECTOR OF WORKFORCE DEVELOPMENT & MAIP INTERNS

The overwhelming success of this year’s expo has inspired an exciting expansion for the future. Plans are underway to extend the event into a two-day format, transforming it into the Oklahoma Innovation Conference & Expo.

This new structure will include both a conference and an expo, offering even more opportunities for networking, collaboration, and idea exchange. Attendees can look forward to dedicated sessions and panels covering a wide range of topics in science and technology, allowing for deeper dives into the most pressing and exciting discussions in the field.

Looking ahead, the enhanced format of the Oklahoma Innovation Conference & Expo promises to become an unmissable event for innovators across the state. The expanded event will not only increase its value but also its impact, fostering a vibrant community of innovators and driving progress and prosperity in Oklahoma. As we turn the page to this new chapter, we invite everyone to join us in shaping the future of innovation in our state.

2023 Oklahoma Innovation Expo Legislative Sponsor: Rep. Brian Hill

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The future is bright for Oklahoma, and together, we will continue to drive forward, making significant strides in science, technology, and economic development.. through technological advancement.

OKLAHOMA INNOVATION PROPELS OUR STATE FORWARD, ACCELERATES ECONOMIC GROWTH, AND SOLVES SOCIETY’S CHALLENGING PROBLEMS. OKLAHOMA SCIENCE AND TECHNOLOGY RESEARCH AND DEVELOPMENT (OSTRaD) BOARD OF DIRECTORS Elizabeth Pollard, Chair Blayne Arthur Mita Bates Sean Bauman Thomas Kupiec

Dan Marticello Brenda Rolls Kenneth Sewell Robert Warwick, Jr.

OCAST’S TEAM PLAYERS Jennifer McGrail Executive Director

Elaine Spell Finance + Admin Director

Joyce Coleman Executive Assistant

Kristi Howes Finance + Business Manager

Dan Luton Programs Director

Michelle Douglas Office Manager

Connie Lake Associate Programs Director

Makeba Griffin Communications Manager + PIO

Kristina Wadley Associate Programs Director

Tessa North Data Analytics Program Manager

Mark Ballard Senior Programs Manager

Ashley Stuart Policy + Planning Legislative Liaison

Laura Sohl-Smith Programs Officer Sam Snow Client Services Manager

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755 Research Parkway, Suite 110 | Oklahoma City, OK 73104 405-319-8400 | ocast.ok.gov

This publication was authorized by Title 74 of the Oklahoma Statutes, Section 5060.22.