About OCAST

LETTER FROM THE DIRECTOR

performance computing and data security and advanced manufacturing. Advances in biomedical research, biotechnology and imaging technology are enhancing our quality of life through better diagnostic capabilities and better treatment and prevention protocols. Throughout its 25 year history, OCAST has funded 2,388 projects with a total investment of more than $234 million and a cumulative return on that investment of 20:1. OCAST is helping to build a culture of innovation and entrepreneurship through partnerships and alliances with Oklahoma research institutions and foundations, technical education and the private sector.

Governor Mary Fallin’s Science and Technology Council recently released One Oklahoma: A Strategic Plan for Science and Technology in Oklahoma. The report states, “The State of Oklahoma benefits directly from a strong science and technology base. Economic development in the United States over the past 50 years or more has illustrated that a commitment to science and technology is the most important key to building a better economy and quality of life for our citizens.” OCAST is uniquely positioned to play a vital role in realizing the bold objectives set out in the plan.

The benefits of research are multifaceted. When researchers make discoveries and move their ideas from concept to commercialization, they create new businesses and hire new or additional employees to market, manufacture and sell their products around the world which generates increased tax revenues for Oklahoma.

OCAST is proud to present this 25th anniversary edition of the agency’s Impact Report – it is a continuing story of our successes in science and technology, innovation and entrepreneurship that benefits Oklahoma and helps advance our state in the global knowledge economy.

The OCAST journey continues!

C. Michael Carolina
Executive Director

PURPOSE

The Oklahoma Center for the Advancement of Science and Technology (OCAST) was established in 1987 as the state’s agency for technology-based economic development. OCAST’s mandate is to “expand and diversify Oklahoma’s economy and provide new and higher quality jobs for Oklahomans” by encouraging “. . . the development of new products, new processes and whole new industries in Oklahoma.” (O.S. 74, Sections 5060.1a and 5060.2A)

MISSION

To foster innovation in existing and developing businesses

• by supporting basic and applied research
• by facilitating technology transfer between research laboratories and businesses
• by providing seed capital for innovative firms in the development of new products or services
• by helping Oklahoma’s small and medium-sized manufacturing firms become more competitive through increased productivity and modernization (O.S. 74, Section 5060.3)

VISION

OCAST funds cutting-edge science and technology through processes that are recognized nationally and internationally for demonstrating excellence, objectivity and economic impact. OCAST’s vision is continued growth and vitality of its basic premise of facilitating collaborations between state government, universities, start-up companies and established large-scale firms to develop an entrepreneurial environment which supports technology-based economic development. OCAST’s strategy includes technologies such as biosciences, information technology, sensors and electronics, advanced materials, energy and alternative fuel sources. Achieving this vision will result in continued growth of advanced technology companies in the state thereby increasing Oklahoma’s global competitiveness, per capita income and quality of life.