OKLAHOMA CITY, June 17, 2022 (GLOBE NEWSWIRE) — Multi-disciplinary investment firm Echo Investment Capital is celebrating the passage of The Oklahoma Research and Development Act, a piece of legislation that creates a grant program designed to attract research and development companies to the state. The act, which offers matching grants to cover up to 50% of the cost of each project (up to $100,000), is designed to further diversify the economy in the state of Oklahoma, bringing new jobs, increased opportunities for students, researchers, and professional staff, exposure to new technologies, and growth in private investment.
The bill, which was signed into law by Governor Stitt at the end of May and goes into effect on November 1, 2022, will create a grant program through the Oklahoma Center for the Advancement of Science and Technology (OCAST). Eligible companies are ones that operate in aerospace and autonomous systems, life sciences, or energy diversification and partner with an Oklahoma-based research university or nonprofit research institution.
Rep. Brian Hill, R-Mustang, was the principal House author of the bill, and Sen. Chris Kidd, R-Waurika carried it in the Senate.
“Echo is proud to support this legislation,” said Christian Kanady, founder and CEO of Echo Investment Capital, whose investments span across the life sciences, entertainment, real estate, and energy industries. “We believe it will make Oklahoma an increasingly attractive locale for global innovators to ideate, design, and test new products which will grow Oklahoma’s economy. Companies from all across the country are beginning to discover what Oklahomans already know — that the state is the ideal place for research and development due to our cost-effective space, integrated ideas and systems, and engaged workforce.”
ABOUT ECHO
Echo Investment Capital is an Oklahoma City-based investment firm with a multi-disciplinary team of strategic investors and operators funding innovation and cutting-edge companies across industries. Echo connects often-overlooked infrastructure with globally sourced ideas, talent and capital to build a better, bolder future for the community and the world. By bringing together forward-looking ideas and sophisticated capital, Echo aims to generate exceptional returns and differentiated value for investors and its portfolio.
www.echoinvestmentcap.com
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