OCAST asks lawmakers for multimillion-dollar expansion of startup and STEM internship programs

Jennifer McGraw, executive director of the Oklahoma Center for the Advancement of Science and Technology (OCAST), told senators the agency aims to keep high-growth startups in Oklahoma by providing technical and early-stage funding that de-risks projects and attracts follow-on capital. "If we want to compete, we have to do the same thing that these areas do," McGraw said, arguing state support helps turn ideas into companies that create high-paying jobs.

McGraw asked for $2.5 million to fund the STEM intern/industry partnership program — now in statute — and requested another $5.1 million to fund 14 additional projects in the Industry Innovation Program, which independent evaluators had identified as high-potential but unfunded due to limited resources. She said, based on OCAST's 2025 reporting, the agency’s programs supported 2,868 direct jobs and generated self-reported follow-on funds, and provided two ROI figures: a self-reported $58.26 returned per dollar invested using broad financial impact measures and a conservative $24.85 return measured by wages and verified follow-on funds.

McGraw described OCAST’s oversight: applicants may request up to $500,000 total, projects must match dollar-for-dollar, and awards are reimbursement-based with quarterly progress reports reviewed by independent industry experts. She also requested a one-time $100,000 for relocation costs and modest recurring increases for operations and salary adjustments.

Committee members asked for program-level data and verification. McGraw said OCAST will deliver an annual impact report and has begun breaking out program-level economic-impact data to avoid double-counting effects across multiple programs. Members did not take immediate action; staff follow-ups were requested.