History

Grant Funding

Funding for grant investments was envisioned as a 50-50 partnership between the public sector and private / philanthropic interests.

In June 2006, the Arizona Governor and State Legislature created the Arizona 21st Century Competitive Initiative Fund under the authority of the Commerce and Economic Development Commission (CEDC) of the Arizona Department of Commerce.  In November 2006, CEDC entered into a contract with Science Foundation to provide the services outlined in the legislation, providing $35 million for the first year of grant investments.  In 2008, the State appropriated an additional $25M for grant investments, which was matched by a generous donation from Jerry Bisgrove and the Stardust Foundation.  For 2009, state funding was reduced to $18 million in connection with the economic downturn. 

Science, Technology, Engineering and Math Education

In August 2008, SFAz began operating a new entity, the SFAz STEM Initiative, that is focusing on science and math education.   Created in collaboration with several public and private education partners, SFAz STEM is building education excellence in the focus areas of Science, Technology, Engineering and Mathematics (STEM).  Recently, the SFAz STEM Initiative has been asked to lead the Arizona STEM Network, a statewide effort whose goal is to ensure Arizona's ability to educate, attract and foster a globally competitive work force.

The Future

SFAz continues to play a pivotal role in delivering and managing an investment strategy in purpose-driven innovation, research and education to spur greater businesses opportunities, further investments and new technology sector growth.