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)
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)
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.