Stages:

• Early
• Seed

 

Industries:

Communications & Networking

Information Technology

Life Sciences & Healthcare

Medical Device

 

Description:

The Institute showcases technologies and products developed by publicly-supported organizations across the state, and commercially-viable discoveries are paired with seasoned entrepreneurs and investors to ensure their growth and success. Establishment of the Institute is a result of legislation passed in 2007 to stimulate growth of science and technology-based companies in industries that are driving the global economy. Related initiatives include the availability of gap funding targeted towards universities to help take new ideas through the 'proof of concept' stage, and the creation of the Florida Opportunity Fund for increased investment in existing, early-stage ventures. The Institute is accepting applications for its Seed Capital Accelerator Program (SCAP) which will provide funding in the form of repayable loans ranging from $50,000 - $300,000 to qualified Institute companies. The goal of the new Seed Capital Accelerator Program is to bridge the funding gap for companies whose technology was developed through publicly-funded research, and to attract additional investment capital through a required match against funds provided by the state. Institute-funded companies have raised in excess of $255 million and are creating high-wage, knowledge-based jobs. The Institute's overall economic impact in the state of Florida was $4 billion, with fiscal revenue impacts of nearly $453 million to federal, state, and local governments.