OCAST asks legislature for expanded funding to scale industry innovation, internships and capital access

Jennifer McGreal, executive director of the Oklahoma Center for the Advancement of Science and Technology (OCAST), told the Appropriations and Budget Committee that the agency shifted its focus since 2021 from a narrow research‑centric model to a statewide innovation strategy and is seeking recurring funding to expand programs and access to capital.

McGreal said OCAST has restructured governance and programs: the Oklahoma Science Technology Research and Development (OSTRAD) board was reduced from 21 to nine members, with seven members required to come from emerging industries; the agency consolidated five grant programs into a single streamlined Industry Innovation Program and has stood up new capital access pilots, accelerators and a STEM intern program.

She presented FY 2024 impact numbers OCAST now publishes: OCAS programs and services reported 2,024 jobs created and retained for 2024 (the agency noted the number coincidentally equals the year), with an average wage of roughly $83,000, and reported roughly $139 million in follow‑on capital brought into the state by supported companies; OCAST also reported 43 new companies formed through its services. McGreal said the agency received 70 applications to the Industry Innovation Program this cycle but funded only 16 because of limited funding.

To expand capacity OCAST requested five items in its FY 2026 budget submission: an incremental $216,000 for agency operations; $328,000 in operational funds to use as matching leverage to pursue additional federal and private funds; $2.2 million to increase the Industry Innovation Program (estimated to allow funding of nine additional projects and creation of about 27 new jobs based on agency models); $1.0 million to sustain and expand the STEM intern partnership program; and a smaller increase for seed capital/capital access to pair with existing pilot funding.

McGreal told the committee OCAST leveraged State Small Business Credit Initiative funds and federal grants to expand offerings, created three accelerators (Build in Tulsa/Techstars, Generator Investment Accelerator in Oklahoma City and a grassroots ag/business accelerator), and instituted a comprehensive data and formula dictionary to standardize impact metrics across partners. She said OCAST now manages more than 200 projects and is running pilots to address gaps in early‑stage and later‑stage capital.

Representative Waldron and other members asked about board composition, targets and recent performance fluctuations; McGreal said OSTRAD’s board changes shifted emphasis toward industry sectors such as advanced air mobility, life sciences and energy diversification but that the agency is reviewing strategic pillars and conducting data analysis to refine workforce targets.

McGreal closed by noting the agency’s FY 2024 impacts and saying the requested program increases would primarily (statutorily) be used for grant programs that require one‑for‑one matching funds before deployment and, she emphasized, could be scaled back in recessions.

Clarifying details: OCAST FY appropriation cited $16,800,000; FY 2024 jobs created/retained 2,024; average wage of those jobs ~$83,000; follow‑on capital ~$139,000,000; Industry Innovation Program applications 70, funded 16; requested program increases: $216,000 (operations), $328,000 (operational leverage), $2,200,000 (Industry Innovation), $1,000,000 (STEM intern), plus capital access increases (amount not fully specified).