Business Archives | �鶹ԭ�� News

From the Ground Up

Robert Stephens — Thu, 09 Jan 2025 16:20:11 +0000

To this day, Carol Ann Logue calls herself “a farm girl from Arkansas,” even after living in Florida for more than 40 years. She’s worked at �鶹ԭ�� for the past 23 years, with the last seven dedicated to nurturing economic development in the area as director of �鶹ԭ��’s . Yet you can still detect hints of a Razorback accent during conversations with Logue. The character traits she cultivated from watching the fields as a child — patience, thoughtfulness and optimism — are also evident. Now she’s relying on her instinct to trust that everything will flourish under the care of others.

In April, Logue will retire from her leading role at �鶹ԭ��.

“The timing couldn’t be better,” Logue says. “We have no crisis, no funding gap — just a healthy business environment [for] the foreseeable future. I can walk away with peace of mind that our ‘grow your own’ approach has become the hallmark of economic development in Central Florida.”

Under Logue’s guidance, the Innovation Districts and Incubation Program has cultivated growth for hundreds of startups, resulting in thousands of jobs and tens of millions of dollars for the local economy from a medley of industries. Logue’s approach to her work has captured the attention of colleagues across the country, serving as a testament to her strong work ethic and humility.

“I’ve followed a crooked path,” Logue says, “but I’ve never forgotten where I came from.”

The Farm Girl From Arkansas

Logue learned how to drive from the seat of a tractor at age 10. She can’t begin to count how many piglets she bottle-fed or the hours she spent picking, cleaning and canning vegetables from her family’s enormous garden. Logue’s granddad ran the general store. Her father earned a degree in agricultural engineering, but didn’t stray from his rural roots where everyone knew each other as neighbors and helped each other as friends.

“My upbringing close to the Earth prepared me to work with entrepreneurs even back when I had other plans,” Logue says.

Those plans were supposed to include medical school, however, along the way she discovered the world of technology at the University of Arkansas library, where early online databases fed her hunger for knowledge. From there, Logue’s route bounced around the south — to Louisiana State University for a master’s degree, back to Arkansas to teach and eventually to the University of Florida (UF) in 1984 where she helped run an information center with rocket scientists.

“Agriculture is the original STEM field,” Logue says of the connection between farming and technology.

While at UF, she would attend occasional business conferences in Orlando, and each time she became more intrigued about the blossoming potential of the area and the young university on its east side. At one conference in the aftermath of 9/11, she heard a new strategy outlined — for the region, for �鶹ԭ��, and, as Logue believed, for her own career.

“The ground had shaken after 9/11,” she says. “It forced every business and municipality to change. During that conference, I heard how technology and young startups in Orlando were poised to diversify the economy beyond tourism. Everyone wanted to participate — the city, the county, private enterprise. And at the center of it all: �鶹ԭ��. It wasn’t just talk. Innovation would drive entrepreneurship, and entrepreneurship would grow the greater community. I’d always wanted to be in a place where I could see those kinds of long-term results.”

Laying the Groundwork for Orlando’s Economic Boom

When Logue arrived at �鶹ԭ�� a few months later, she saw the equivalent of a big field — one incubator in one building. She felt at home. Working with entrepreneurs reminded her of planting seeds. Developing partnerships with the city and county was like watering and fertilizing.

“Just like it is when you’re growing crops, you keep watch, knowing there will be factors outside your control,” Logue says. “But you keep nurturing, keep fending off pests and focus on the harvest ahead.”

Orlando’s business culture today is very different than it was in 2002. The region once known for a busy airport and theme parks now garners global attention for technology and innovation clusters that feed a robust local economy. There’s expertise in virtual reality, augmented reality, digital twinning, modeling, simulation, gaming and theme park advancements. All of this has been spun into a wide range of business interests: education, hospitality, medicine, real estate, smart city planning and the space program. Trace any of the vendors back to their roots and you’ll probably find yourself still standing in Central Florida.

This is the fruit reaped from sowing locally, and it’s due in large part to �鶹ԭ�� — and to Logue.

“Colleagues from around the country ask how we do this,” she says. “I tell them �鶹ԭ�� always has a seat at the table. During conversations, you can’t tell who works for government, who works for industry and who works for �鶹ԭ��. It’s truly collaborative, which is helpful for entrepreneurs. At the heart of it, we share a goal to drive a better quality of life from within.”

RINI Technologies, one of the first businesses in the incubator program when Logue arrived in 2002, now offers leading research and development from a 12,000-square-foot facility just one mile from �鶹ԭ��’s main campus. It’s among the companies Logue and her team have helped grow from laboratory to marketplace.

The successes gained so much attention from the U.S. Department of Defense that when it recognized a need for rapid innovation in 2019, it launched the Central Florida Tech Grove and appointed Logue as director. Five years later, 11 government entities now collaborate with Tech Grove, where the primary mission to grow the defense industrial base for each entity has expanded overall economic vitality. Business leaders from around the world see the ease of integrating with other companies and government and want to know how to be a part of it.

They call the person at the center of the progress: Logue.

“It isn’t me,” she says with down-to-earth modesty. “It’s the vibrant economic environment here. I know it will be sustained long after I leave.”

Her Ambitious To-do List for Retirement

Logue plans to take online courses in history, photography and possibly artificial intelligence. There are books to read and documentaries to watch about people, WWI and WWII. She’ll vacation in Eastern Europe and visit her grandkids in Alaska. But near the top of the list is a trip she’s been thinking about for a long time. This trip will be to the pastures of Lexington, Kentucky, and the foothills and flatlands of Arkansas — home.

“Back to the place that prepared me in ways I never saw coming,” she says.

Then Logue and her husband, Ed, will return to Florida and take a breath before she makes time for a once-familiar hobby.

“I’m going to have a big garden,” she says, “and I look forward to spending a lot of time in it.”

�鶹ԭ�� Students to Compete for $50,000 in 2024 Joust Business Competition

Tatum Swanson — Wed, 10 Apr 2024 15:04:00 +0000

Four �鶹ԭ�� student teams will face off in the Joust New Venture Competition Thursday, April 11. With $50,000 on the line, the entrepreneurial students will present business proposals in industries ranging from insurance to cybersecurity before a panel of judges in a Shark Tank-style showdown starting at 2 p.m. at the Celeste Hotel on �鶹ԭ��’s main campus. The event is free and open to the public.

The Joust New Venture Competition is �鶹ԭ��’s premier startup showcase event hosted by the Center for Entrepreneurial Leadership in �鶹ԭ��’s College of Business and the Blackstone Launchpad. The event celebrates student entrepreneurs from various majors and all types of venture proposals, introducing them to community leaders and providing key resources to help launch their ventures. Competitors present their models for a viable business and compete to win money and other vital resources to pursue their venture. Previous competitors have gone on to appear on ABC’s Shark Tank and have launched successful businesses.

A panel of expert professionals representing corporate partners, area businesses and alumni will assess the students’ business plans. This year’s final judges will be Jacques Fu ’08, founder of PETE Learning; Kevin Miller, president and CEO of Addition Financial; Mark Norato ’91, vice president of North American Partners in Anesthesia; Michael O’Donnell ’09, founder and CEO of MOD Ventures LLC; John Paccione ’95, president of Red Horse Ventures; and Edward Schons, former president of the Florida High Tech Corridor and assistant vice president for University Relations at �鶹ԭ��.

Advancing beyond a roster of 16 semifinalists, here are the four teams competing in the Joust finals:

CyberColosseum Solutions

Team members: Harrison Keating, Noah Magill and Joshua Walsworth

CyberColosseum is a dynamic training platform that immerses information security teams in realistic cyber warfare scenarios. Facing simulations of real-world threat actors like those behind major breaches, a team can hone their skills in a custom environment that mirrors their company’s infrastructure. Unlike static content that quickly becomes outdated, this platform delivers up-to-date threats in a high-stakes practice setting. The mission: equip teams to defend against cyber threats and safeguard companies from becoming the next victim.

Emergency Insights

Team members: Aref Abdala, Sonia Alvarez, Javier Arocha and Julio Wall Chirinos

Emergency Insights revolutionizes hazard risk mitigation by providing precise assessments for both individuals and counties. For users, it offers insights into property risks, aiding in informed decisions about purchases and disaster preparedness. The annual hazard reports assist counties in strategic planning and resource allocation. Unlike existing solutions, Emergency Insights will provide up-to-date data, comprehensive coverage and user-friendly accessibility at an affordable price.

Unbound Disability Claims

Team members: Samson Lachman, Amanda McDonald and Alyssa Wilbanks

Imagine facing a shocking cancer diagnosis after seeking treatment for stomach pain, leading to job loss and financial strain. Applying for Social Security Disability (SSD) becomes a daunting task, taking hours to complete online only to be denied after months of waiting. Appeals bring no relief as savings dwindle, debts mount and health deteriorates. This struggle is all too common for 62% of SSD applicants. The solution: the Disability Claim Builder, which streamlines the process to secure faster approvals and much-needed benefits, much like what TurboTax does for people filing their taxes.

ZuLeris Interactive

Team members: Liam Etan, Jacob Noel and Zackary Zuniga

ZuLeris creates interactive electromagnetic warfare virtual training environments (VTE) to supplement live learning systems. In this constructive VTE, users can educate, train, and rehearse scenarios to accelerate learning and achieve superiority in their field.

New International Research Provides Tips for Entrepreneurs to Beat the Grind

Erika Hodges — Tue, 25 May 2021 12:43:44 +0000

Staying up all night, working nonstop, eating on the run and skipping meals are often telltale signs of starting a new business. But research shows this constant hustle – which is often glorified as the key to success – can have a negative impact not only on an entrepreneur’s health and well-being but also his or her business.

New research led by suggests that engaging in recovery may help entrepreneurs reduce the negative impact of stress.

“Entrepreneurs who work really hard and grind on their business and who most need to recover, don’t take a break,” says Gish, who also has studied how lack of sleep impacted entrepreneurs’ decision-making ability. “That incessant grind, fueled by the autonomy that accompanies self-employment, hinders or hampers them from taking time to recover. This creates a tension between the good and bad associated with entrepreneurial careers, which leads to strange well-being outcomes. We’re trying to fix that.”

Gish builds on his previous research that documented the link between entrepreneurial well-being and the stressors that affect it. In this study, which was recently published in the scholarly journal Entrepreneurship Theory and Practice, Gish proposes recovery interventions to enhance entrepreneurial well-being.

To help entrepreneurs recover, Gish and his co-authors recommend three recovery-intervention categories they’ve dubbed the 3 Rs: Respite, Reappraisal and Regimen.

“Respite is just taking a break or pushing ‘pause’ on work. Reappraisal is changing how you think about stress,” says Gish, noting that writing in a journal can help someone understand how they look at stress or failure and then reframe it. “And the last one is regimen, just adding structure to respite and reappraisal.”

Gish recommends setting work aside, even for just a few minutes, to take a walk, listen to music or engage in other non-work-related activities. The study notes that even micro-breaks, which may span just 5-10 minutes, can provide physical and mental relief from stress, aid in recovery and boost productivity.

“If you’re always working and always on, that can impair recovery and eventually harm a host of well-being outcomes,” he says.

The study, a comprehensive review of the literature around entrepreneur well-being, stressors and their effects, also offers guidance on how entrepreneurs can reframe how they look at self-care and recovery, and then how to build it into their routines.

Gish joined in 2019. Co-authors for the research are Amanda Jasmine Williamson, lecturer in Innovation and Strategy at University of Waikato in New Zealand; and Ute Stephan, professor of entrepreneurship, King’s College London, and Technische Universität Dresden.

Historic Recovery Ahead for U.S. Economy in 2021, Predicts �鶹ԭ�� Economist

Josh Miranda ’16 — Wed, 03 Mar 2021 20:23:51 +0000

Fueled by a release of pent-up economic demand, unemployment will decline and Americans will spend more money through 2021, says Sean Snaith, renowned economist and director of �鶹ԭ��’s Institute for Economic Forecasting.

While consumer spending shrank by 3.9 percent in 2020 amid the recession, the institute’s first-quarter U.S. forecast predicts spending will accelerate to an increase of 5.4 percent this year and slow to an increase of 2.6 percent by 2024. CARES Act funding and the COVID-19 vaccine are quelling fear of the pandemic, prompting consumers to open their wallets and businesses to hire new employees. Snaith maintains a positive outlook on the months ahead, but it could take until 2022 for unemployment to fall back to pre-pandemic levels.

“Consumers are powering this recovery, and as the effects of the pandemic fade, consumer confidence will rise in tow.”

“Job growth will help ease the damage to the labor market from the lockdown, but the road to recovery will take at least another year,” Snaith says. “Consumers are powering this recovery, and as the effects of the pandemic fade, consumer confidence will rise in tow.”

In the report, Snaith predicts:

Job growth will continue. The growth rate will reach 3.9 percent in 2021, before slowing to 3.1 percent in 2022, 0.8 percent in 2023 and 0.5 percent in 2024.
Unemployment will decline to 4.2 percent by 2023.
The housing market will continue to progress and improve through 2021 –—New-home construction will rise from 1.38 million in 2020 to 1.56 million in 2021, then decelerate to 1.24 million by 2024.
Real Gross Domestic Product (GDP) growth will accelerate from its historic 2020 low to 5.4 percent in 2021, before easing to 4 percent in 2022, 2.5 percent in 2023 and 2.4 percent in 2024.

With economic policy measures largely at a standstill in Washington D.C., public health initiatives will likely drive the speed of the nation’s economic recovery. The looming possibility of future lockdowns, vaccine distribution concerns and the nation’s understanding of the COVID-19 virus will have the greatest effect on the strength of the rebound.

Interest rates are similarly projected to remain near zero until mid-2024, when the Federal Reserve will slowly begin reversing the rate cuts made during the COVID-19 recession. The Fed’s delay to increase interest rates will help fuel investment growth once the pandemic subsides.

“This is all uncharted territory for monetary policy,” Snaith says. “Washington D.C. has been focused on politics more so than the economy and there is no previous playbook on how best to carry policy forward.”

For the complete U.S. report from the Institute for Economic Forecasting, visit .

The Institute for Economic Forecasting strives to provide complete, accurate and timely national, state and regional forecasts and economic analyses.

Snaith is a national expert in economics, forecasting, market sizing and economic analysis who authors quarterly reports about the state of the economy. Bloomberg News has named Snaith as one of the country’s most accurate forecasters for his predictions about the Federal Reserve’s benchmark interest rate, the Federal Funds rate.

Virtual Job Fairs, Networking Create Opportunities for Business Students

Melanie Rivera — Wed, 30 Sep 2020 17:23:48 +0000

As the COVID-19 pandemic continues to impact daily life, �鶹ԭ�� College of Business students are taking advantage of the opportunity to engage with employers and student organizations from thousands of miles away. For international students such as Maria Pacheco, the pandemic opened the door to building virtual connections with peers and professionals who would have been inaccessible during a normal semester.

“Even being across the world in Ecuador, attending a virtual networking event was a great chance to learn something new,” Pacheco says. “After learning about all these virtual events, I found networking simple and advantageous. In the business world, it is extremely important to build connections and I was able to do just that.”

What started as a networking obstacle has become a new means to connect with students, employers and campus partners all over the world.

While career fairs and in-person interviews are no longer an option, faculty and staff are utilizing online alternatives that provide more interaction than a typical Zoom call. This semester, the College of Business launched a series of virtual networking events powered by Career Fair Plus, an online platform for job fairs, events and employer interviews. Similar to an in-person career fair, students can visit multiple “booths” by dropping in and out of virtual meeting rooms hosted by employers and student organizations.

On Sept. 3, the college’s Professional Selling Program hosted a “reverse job fair” where nearly 50 employees connected with 40 sales students. This interactive platform also hosted hundreds of students for a “Virtual RSO Speed Networking” event. Business students visited virtual booths hosted by 31 registered student organizations, campus partners, employers and sponsors. Tiffany Hughes, chief of operations for the college, says engagement continues to be a central part of the student experience.

“During a normal semester, the College of Business usually hosts more than 50 events involving students, alumni and friends of the college,” Hughes says. “We are thrilled to be able to continue this culture of engagement in an online setting thanks to the strong relationships we have with our corporate partners and student organizations.”

What started as a networking obstacle has become a new means to connect with students, employers and campus partners all over the world. Later this semester, the college will hold the “Fall 2020 Virtual Invitational: An Online Event for Internships, Externships and Jobs.” Using Career Fair Plus, corporate partners will host virtual booths to promote career opportunities to hundreds more students in a variety of fields, including accounting, economics, finance, integrated business, management, marketing, real estate and sports business.

“We are incredibly thankful for the partnerships we have in our Central Florida business community and �鶹ԭ�� student organizations. We couldn’t provide these resources and opportunities to our students without their unwavering support,” Hughes says.