Tom O'Neal Archives | �鶹ԭ�� News

�鶹ԭ�� Business Incubation Program Companies Receive Record-Breaking Investments

�鶹ԭ�� Business Incubation Program — Tue, 22 Jan 2019 15:54:28 +0000

Companies in the �鶹ԭ��’s set records in 2018 for both investments and grants, with outside investment in 50 of the program’s participant companies totaling more than $19 million in funding, and 46 clients receiving grant awards of $4.6 million. That amounts to a 69 percent increase in investment and a 49 percent jump in grant activity.

The investments were spread across the incubator network, with the largest investment of $7 million received by a company from the Winter Springs incubator facility, and with the most transactions being received by the program incubator at the Central Florida Research Park location.

“We are extremely proud of our incubator clients for these record-breaking achievements.” – Tom O’Neal, founder and executive director of �鶹ԭ��’s Business Incubator Program

“We are extremely proud of our incubator clients for these record-breaking achievements,” says Tom O’Neal, founder and executive director of the program. “T�� increase in funding clearly demonstrates the success of the �鶹ԭ�� BIP program, and validates that our incubators are an irreplaceable gem in the community that helps produce scalable, investible companies in Central Florida. These companies are truly making a difference in our community in terms diversifying our economy and creating jobs that pay higher than average wages.

“T�� grant dollars are also an important measure of the quality of the clients in the program. The grants and investment capital are a great way to get these companies off the ground with funding mainly from outside the region. They are highly competitive, and 46 awards in one year speaks highly of the companies and the region overall.”

The program is a community resource that provides early stage companies with the tools, training and infrastructure to become financially stable, high growth/impact enterprises. Since 1999, this award-winning program has helped more than 390 local startup companies reach their potential faster by providing vital business development resources.

With seven facilities throughout the region, the �鶹ԭ�� Business Incubation Program is an economic development partnership between the �鶹ԭ��; the Corridor; Orange, Osceola, Seminole and Volusia counties; and the cities of Apopka, Kissimmee, Orlando and Winter Springs. For the 2016/17 and 2017/18 fiscal years, the activities of these participating firms have helped sustain more than 6,275 jobs and have had a cumulative impact of more than $888 million on regional GDP and more than $1.59 billion on regional sales. During the same period, the program has returned $12.03 for every $1 invested in the program. For more information, visit .

�鶹ԭ�� Business Incubators Boost Region’s Job Creation & Economy, Study Says

Mark Schlueb — Thu, 29 Jun 2017 12:53:24 +0000

Companies that grew up in the �鶹ԭ��’s business incubators sustained 4,710 jobs and added more than $725 million to the region’s gross domestic product in the past two years, according to a newly released economic impact study.

The report found that the seven �鶹ԭ��-operated incubators spread over Orange, Seminole, Osceola and Volusia counties are job-creating engines whose client companies had a $1.3 billion impact on sales in the region from July 1, 2014, to June 30, 2016.

“T�� goal of the �鶹ԭ�� Business Incubation Program is to nurture these start-up companies to the point where they are able to grow and survive on their own. We have been very successful at that, and that success translates to new jobs in our community and economic growth throughout the region,” said Tom O’Neal, associate vice president of �鶹ԭ��’s Office of Research & Commercialization.

The �鶹ԭ�� incubator program was formed in 1999 to help early-stage businesses grow into financially stable companies. Clients benefit from office space and shared office resources in one of the incubator buildings; strategic business advice and coaching; frequent seminars and workshops; as well as help with budgeting, accounting, intellectual property and legal questions.

Since the program’s inception, �鶹ԭ�� incubators have helped nearly 400 companies in a broad range of sectors, including simulation, clean energy, digital media, transportation and many more.

The study, which was conducted by Vernet Lasrado, assistant director of the Office of Research & Commercialization, was commissioned by the Florida High Tech Corridor. It examines the economic activity of the program’s current clients, as well as those that have graduated or left the program since it was launched but remain in the region, and quantifies their combined impact on the local economy during the two-year study period.

The study found that firms associated with the incubator program:

Sustained 4,710 jobs in the Orlando and Daytona Beach regions as of June 30, 2016, including both direct and indirect employment.

Had a $725 million total impact on the region’s gross domestic product.

Had a $1.3 billion total impact on regional sales.

The incubators receive funding from �鶹ԭ��, the Florida High Tech Corridor Council, Orange, Osceola, Seminole and Volusia counties, and the cities of Apopka, Kissimmee, Orlando and Winter Springs.

The study also concluded the program is a good deal for the local governments and organizations that support it. The incubators received $4.9 million in funding during the two-year study period, while incubator clients’ business activities generated more than $36 million in state and local taxes during the same period. In short: For every $1 of public investment, an estimated $7.41 was returned in taxes.

“T��re is no denying the remarkable success of the �鶹ԭ�� Business Incubation Program – not only as a very productive creator of new jobs in high technology and other quality industries, but also as a model for focused and cost-effective economic development,” economic advisor William H. Owen, who reviewed the study, wrote in its forward.

The report is available here:

National Entrepreneur Center Releases Economic Impact Report

Thu, 13 Aug 2015 20:47:33 +0000

The National Entrepreneur Center (NEC) released today the findings of its latest economic impact study, which indicated a return on investment (ROI) of $14.00 for every dollar invested in the NEC since 2003. Austin-based Angelou Economics (AE) – an economic research and analysis firm which works with public and private sector clients both domestically and internationally – conducted the study to measure the economic impact of the NEC on the local and state economies.

“We chose Angelou Economics because of their experience in the field, and their reputation for thoroughness,” said Jerry Ross, Executive Director of the NEC. “We can point to many success stories over our last 12 years, however, we needed help to statistically evaluate the overall economic impact to the Central Florida region and the State of Florida,” said Ross.

“We have always known that the NEC does a great job, and now we have the statistics to prove it,” says Marianne Amato, Regions Bank Executive and NEC Board Chair.

According to the Angelou Economics Report, the NEC’s impact to Florida since 2003 incudes:

$187.6 million in total economic output

$58.4 million generated in labor income

1,000 jobs created or sustained

$77.3 million in revenues for Florida retailers

$8.6 million in state and local tax revenues

“Supporting entrepreneurs through innovative training and providing access to resources is vital,” said Orange County Mayor Teresa Jacobs. “Particularly for a thriving region like Central Florida, where our economy has benefited by $14 for every single dollar invested in the NEC, the return on investment is clear.”

The NEC operates as public/private partnership and is funded by local sponsors, which includes: Orange County Government, the City of Orlando, �鶹ԭ��, and Walt Disney World. According to the report, “the NEC has proven to be a successful model, transcending beyond Orlando and even the state of Florida. This is made evident from the fact that the NEC has hosted visitors from throughout the U.S. that have taken an interest in duplicating the NEC’s model.”

“T�� National Entrepreneur Center has attracted national and international attention because it works!” explains Dr. Tom O’Neal, NEC board member and Associate Vice President for �鶹ԭ��’s Office of Research and Commercialization, which acts as the fiscal agent for the NEC. “This report just confirms that the National Entrepreneur Center is where business happens in Central Florida,” remarked Dr. O’Neal.

�鶹ԭ�� Business Incubation Program Receives International Designation to Help Foreign Firms Expand to Central Florida

Michael Weiss — Tue, 26 May 2015 20:32:51 +0000

The announced that it has been designated as a Soft Landings International Incubator by the . The NBIA – the world’s leading organization advancing business incubation and entrepreneurship with more than 2,200 members in over 60 nations – identifies incubators that have specialized programs and/or facilities that help provide a “soft landing” for foreign companies looking to enter into new markets.

Since 2011, the �鶹ԭ�� Business Incubation Program has helped international firms, as well as domestic companies headquartered outside the region expand their business to Central Florida. Over the past four years, the incubator’s Soft Landing program has attracted more than 20 companies from various countries throughout Europe and South America, as well as from eight states throughout the U.S., including other parts of Florida.

“Our organization’s mission is to help diversify Central Florida’s economy by facilitating smarter, faster growth among early-stage businesses,” said Thomas O’Neal, Ph.D., founder of the �鶹ԭ�� Business Incubation Program. “While we have traditionally been fulfilling that goal by offering entrepreneurial assistance to local ventures, we recognize that more jobs and economic growth can be generated here by offering similar services that help companies from around the world establish business in Central Florida.”

According to the �鶹ԭ�� Business Incubation Program’s director, Gordon Hogan, the Soft Landing program helps alleviate some of the challenges that might otherwise prevent these companies from establishing a subsidiary or division in Central Florida.

“Testing a new market can be a capital-intensive and confusing process, especially for those who are operating from abroad and who are unfamiliar with how to conduct business in the U.S.,” said Hogan. “T�� goal of the Soft Landing program is really to help reduce barriers to entry. Whether it’s providing sensible infrastructure, such as office space with flexible short-term leases, or helping companies transition to their new business environment by assisting with domestic market research, meeting government regulations or finding employees, we are helping these firms quickly adapt and connect to the Central Florida business community.”

Freshorize, a U.K.-based company that manufactures patented soap dispensers for aircrafts, is one of many companies that have benefited from the Soft Landing program.

“We had reached a point where we supplied most of the airlines in Europe and needed to look for new growth markets, with the United States being an obvious choice due to the number of airlines,” said Freshorize founder, Aziz Patel. “However, I did not know how to set up the company in the U.S. or find employees, accountants, lawyers or establish new contacts. As anyone can image, it is a lonely, daunting task to figure all this out on your own in the shortest possible time.”

Patel, whose U.S. office currently operates from �鶹ԭ��’s incubator in Winter Springs, Fla., added, “What I found indispensable was the level of resources available at my disposal through the incubator’s Soft Landing program. I was also being introduced to the right people faster than I could remember their names. The result of all the activity at the incubator helped us land the biggest contract we could have dreamed of with Delta Airlines.”

The �鶹ԭ�� Business Incubation Program, which has facilities in Orlando, Apopka, Daytona Beach, Kissimmee, as well as Winter Springs, is the first and only incubation network in the state of Florida to hold the Soft Landings International Incubator designation, and becomes one of less than 30 in the world to earn this distinction.

Kirstie Chadwick, NBIA’s President & CEO said, “The Soft Landings designation is awarded to outstanding incubators that have demonstrated success assisting international firms with entering into new domestic markets. The entrepreneur services offered by these facilities help cut through governmental regulations, find access to capital, provide domestic market research, and other vital business support services. We are excited to award �鶹ԭ�� the Soft Landings designation and know they will continue to provide tremendous support for global entrepreneurs.”

The NBIA’s Soft Landings International Incubator designation provides worldwide exposure and credibility to business incubators who offer programs specifically designed to meet the needs of foreign companies.

For more information about the �鶹ԭ�� Business Incubation Program’s Soft Landing program, including services and company application, please visit

I-Corps Recruits Engineers and Researchers Across Florida

Wed, 20 May 2015 18:26:10 +0000

Promoting “Engines of Innovation” through the National Science Foundation (NSF) Innovation Ecosystem, the �鶹ԭ�� Innovation (I-Corps) Site is working to extend America’s reputation for ingenuity as a “nation of innovators.”

Recruiting cutting-edge scientists and engineers from Florida’s universities and research centers around the state, is now accepting applications until May 29, for admission into its fall program which begins August 24, 2015. The 10-week program will provide selected research teams with first-hand knowledge about entrepreneurship, while exploring and validating the commercial opportunities surrounding their invention.

The NSF Innovation Corps (I-Corps) is the agency’s signature effort to assist teams of university scientists and post-doctoral or graduate students to venture outside of their laboratories and into the marketplace to test assumptions about the commercial market opportunity. The primary goal of NSF I-Corps program is to provide participants with the tools to connect lab discoveries to market and societal needs.

“T�� I-Corps program is the NSF’s conduit for researchers that have a technology or an invention to validate the commercial opportunity. Over a ten-week period teams get out of the lab to conduct about 100 interviews in order to test the validity of their assumptions about the market need and opportunity. Teams decide whether or not to pursue the path of additional funding and company formation at the conclusion of the program,” said Ivan Garibay, �鶹ԭ�� I-Corps Program Director.

�鶹ԭ�� I-Corps teams generally consist of an Entrepreneurial Lead (EL), Principal Investigator (PI) and Industry/I-Corps Mentor. These aspiring entrepreneurs will participate in an immersive, hands-on program designed to teach them how to test their ideas, gauge feasibility, understand market demand, examine competition and develop mutually beneficial partnerships to help transition their ideas into profitable enterprises.

Once teams complete the �鶹ԭ�� I-Corps program, the path to commercial market continues with opportunities for funding in NSF’s national I-Corps program and SBIR/STTR grant funding as well as tapping into the entrepreneurial ecosystem within �鶹ԭ�� and the community.

�鶹ԭ�� has one of the nation’s best innovation and entrepreneurial networks and is one of 36 universities nationwide, leading an I-Corps Site program. NSF has also established regional I-Corps Nodes, located in such innovation hotspots as Washington DC, New York City, Michigan, San Francisco and Boston.

A nationally certified teaching team oversees the teams and coaches them toward success. �鶹ԭ��’s certified teaching team consists of a mix of experienced entrepreneurs, investors and �鶹ԭ�� faculty including Thomas O’Neal, Oscar Rodriguez, Michael O’Donnell, Cameron Ford, Ivan Garibay and David Metcalf. The entire team earned its certification via training and support by Jerry Engel. Engel, professor at Berkeley (University of California), is National Faculty Director of the NSF I-Corps program and co-creator of the Lean Launchpad methodology and curriculum.

For more information about �鶹ԭ�� I-Corps, please visit or contact Ivan Garibay at ivan.garibay@ucf.edu or via phone at 407-882-1163.

�鶹ԭ�� Wins 3 Schwartz Tech Awards

Wed, 01 Oct 2014 20:17:51 +0000

Two engineering professors and an associate vice president at the �鶹ԭ�� nabbed three Schwartz Tech Awards Tuesday night.

The awards recognize Central Florida researchers and leaders from academia and industry who are pioneering exploratory and cutting-edge research to enhance products, services or other applications in any field. The awards program is named after the late William C. Schwartz, a community leader, business pioneer and innovator in the field of optics and photonics.

Sudipta Seal, an engineering professor and nanotechnology and materials expert, was named Researcher of the Year.

Tom O’Neal, associate vice president for Research and Commercialization, earned the Tech Community Champion award, which honors an individual who does not directly work in the region’s tech industry but supports its efforts, entrepreneurship and expansion.

Productivity Apex Inc., a company developed out of �鶹ԭ��’s Business Incubation Program program and led by associate engineering professor Mansooreh Mollaghasemi, was named a Regional Innovator. The award recognizes companies for creating, developing and successfully implementing products, ideas and processes that positively impact our community.

Each of the winners has been instrumental in moving Central Florida forward in terms of technology, innovation and entrepreneurship.

Seal has a long history of discovering and creating innovative technology since arriving at �鶹ԭ�� in 1998 from the Lawrence Berkeley National Laboratory at the University of California at Berkeley. His research has applications in environmental cleanup, nanoadditives for fuels, and health among others. Some of his discoveries have led to start-up companies including nSolGel Inc, nTiOx and NanoCe LLC.

In addition to teaching and research he is also the director of �鶹ԭ��’s Advanced Materials Processing Analysis Center, �鶹ԭ��’s Nanoscience and Technology Center, and the interim chair of Materials Science and Engineering , which are hubs for innovation.

Seal has been recognized frequently by local, regional and national organizations and is a fellow of American Society of Materials, American Association of Advancement of Science, American Vacuum Society, Institute of Nanotechnology, National Academy of Inventors, Electrochemical Society, and the American Institute of Medical and Biological Engineers among others.

O’Neal has helped create an entrepreneurial ecosystem for technology in Orlando for the past 20 years. He has helped the executive leadership of the community and �鶹ԭ�� articulate the direction, vision and execution of multiple award‐winning entrepreneurial programs, including the �鶹ԭ�� Business Incubation Program and GrowFL, the Economic Gardening Institute, among many others.

The �鶹ԭ�� Business Incubation Program, which has since expanded into a network of eight incubators in four counties across Central Florida, has helped more than 155 start-up companies and in 2013 the National Business Incubation Association named it “Incubator Network of the Year.” His leadership aided in the creation of GrowFL, which works with Florida’s second‐stage companies. Since its inception, GrowFL has assisted more than 700 companies through its strategic research and CEO Roundtable programs and recognized 150 successful entrepreneurs through its annual awards program, Florida Companies to Watch. As of June 30, 2013, GrowFL-assisted companies represented 13,493 direct jobs across the state. In 2013, these companies had an estimated sales output of $1.14 billion and contributed $2.33 billion to the Florida economy.

O’Neal has helped bring Central Florida national recognition for its entrepreneurial ecosystem. He is recognized as an innovator in the development of entrepreneurship and has testified in Congress as an internationally recognized brand ambassador for entrepreneurship‐related matters. He serves as an expert on business incubation and industry best practices, and has established international partnerships with several countries such as France, Colombia, Saudi Arabia, the United Kingdom and Ireland.

Mollaghasemi founded Productivity Apex in 2001 with the goal of “using sound principles of industrial engineering and operations research to help commercial enterprises and government agencies improve productivity and maximize their efficiencies.”

Her company offers a range of services in such cutting-edge areas as modeling and simulation, data mining. artificial intelligence and software engineering among others. What Mollaghasemi and her team develop helps companies improve in areas from supply-chain management to fleet management and freight planning and delivery optimization. The company’s clients are in multiple industries including aerospace, aviation, manufacturing, healthcare and hospitality. Among her clients are the Department of Veterans Affairs, Florida Department of Transportation, Orlando International Airport and the City of San Antonio, Texas.

The Orlando Economic Development Commission, Orlando Tech Association and the Florida High Tech Corridor Council, which partnered for the 24th annual awards, honored the winners in downtown Orlando on Tuesday evening. Jorge Estevez a WFTV news anchor was the program master of ceremonies.

Business Incubation Program: 15 Years of Helping Companies

Wed, 01 Oct 2014 15:59:38 +0000

Since its launch 15 years ago, the has helped more than 250 early stage companies on their road toward financially stability and transformation into potentially high-growth/impact enterprises. Utilizing the tools, training and infrastructure provided by the University’s incubation program, these companies have sustained more than 3,600 total jobs in the Central Florida region and have had a total impact of $1.51B on regional sales and $2.48B on regional economic output.

This is a celebration of what can happen when a community get together to make a difference. The invaluable contributions that the partners in this program make to support emerging companies, stimulate job growth and strengthen local economies enable us to fortify the region’s innovation culture by providing ready access to our incubation services,” said Tom O’Neal, Ph.D., founder and executive director of the �鶹ԭ�� Business Incubation Program (�鶹ԭ��BIP).

“We could not achieve the caliber of impact or generate impressive fiscal returns year after year without the continued collaboration,” said Dr. O’Neal who also is the incoming chairman of the board for the National Business Incubation Association (NBIA), the world’s leading organization advancing business and entrepreneurship.

The economic impact outcomes are based on a study conducted by Vernet Lasrado, Ph.D., assistant director of research programs at �鶹ԭ��’s . The study, which examined the University’s incubation program from its inception in 1999 to 2014, determined the direct, indirect, and induced regional impact of companies participating in the program.

Structured as an economic development partnership between the University, private enterprises, and local governments throughout the region, the �鶹ԭ�� Business Incubation Program provides emerging companies with a wide variety of support and guidance to help facilitate their growth and success. Incubation team members and partners from the professional community provide expert help and insight in a variety of areas, including leadership training, market research, business plan development, and funding strategies.

“It is an outstanding economic development partnership that’s producing real, tangible results,” said MJ Soileau, vice president for research and commercialization at �鶹ԭ��’s Office of Research and Commercialization. “T�� support provided by the program plays an important role in the success of these small companies, and this success has a significant ripple effect on our community.”

The �鶹ԭ�� Business Incubation Program, one of the largest in the world, features several locations throughout Central Florida including Orlando, Orange County, and the cities of Apopka, Daytona, Kissimmee, St. Cloud and Winter Springs. It was recently recognized as the Incubator Network of the Year in 2013 by the NBIA, which is in the process of relocating its headquarters to Orlando from its current location in Athens, Ohio.

The program has helped numerous companies including OptiGrate, which came to the program for strategic guidance and is now bringing its innovative volume Bragg-grating optical filters to market. Among the company’s many awards, OptiGrate was a recipient of the 2011 Florida Companies to Watch award. Rini Technologies, which provides innovative technology and product solutions to tough thermal-management challenges, turned to the program for support after being awarded a defense contract and now has added employees and secured numerous contracts. For AVT Simulation, a provider of professional engineering services and training solutions to the simulation, training and entertainment industries, the program provided a location to bring its dispersed team together and support related to business networking and growth strategies. The growing company was a recipient of the 2013 Florida Companies to Watch award.

In addition to facilitating and enhancing the growth and success of local companies, the �鶹ԭ�� Business Incubation Program offers a unique opportunity for international businesses, as well as domestic companies headquartered outside of the area, to enter Central Florida, one of the top entrepreneurial markets in the United States. The incubation program’s Soft Landing Program provides these companies with a number of tools, research and infrastructure opportunities to facilitate the expansion of their businesses into this market.

“T�� exemplifies our commitment to provide innovative programs and services to help encourage and cultivate new business opportunities for the Central Florida region,” said Gordon Hogan, director of the �鶹ԭ�� Business Incubation Program. “Successful incubation programs, just as the companies they support, must continue to innovate, evolve and adapt to changing market conditions and developments, to maximize their success and growth.”

�鶹ԭ�� Professor, VP Nominated for Schwartz Tech Awards

Fri, 05 Sep 2014 17:30:23 +0000

An engineering professor and an associate vice president at the �鶹ԭ�� have been nominated for Schwartz Tech awards.

Sudipta Seal, an engineering professor and nanotechnology and materials expert, is in the running for the Researcher of the Year, and Tom O’Neal, associate vice president for Research and Commercialization, is up for Tech Community Champion.

The awards recognize Central Florida researchers and leaders from academia and industry who are pioneering exploratory and cutting-edge research to enhance products, services or other applications in any field. The Tech Community Champion award specifically honors an individual who does not directly work in the region’s tech industry but supports its efforts, entrepreneurship and expansion.

O’Neal has helped create an entrepreneurial ecosystem for tech in Orlando for the past 20 years. He has helped the executive leadership of the community and �鶹ԭ�� articulate the direction, vision and execution of multiple award‐winning entrepreneurial programs, including the �鶹ԭ�� Business Incubation Program and GrowFL, the Economic Gardening Institute among many others.

The �鶹ԭ�� Technology incubator, which has since expanded into a network of eight incubators in four counties across Central Florida, has helped more than 155 start-up companies and in 2013 the National Business Incubation Association named it “Incubator Network of the Year.” His leadership aided in the creation of GrowFL, which works with Florida’s second‐stage companies. Since its inception, GrowFL has assisted more than 700 companies through its strategic research and CEO Roundtable programs and recognized 150 successful entrepreneurs through its annual awards program, Florida Companies to Watch. As of June 30, 2013, GrowFL-assisted companies represented 13,493 direct jobs across the state. In 2013, these companies had an estimated sales output of $1.14 billion and contributed $2.33 billion to the Florida economy.

The Orlando Economic Development Commission teamed up with the Orlando Tech Association and the Florida High Tech Corridor Council for the awards program this year. This is the 24th year the awards have been handed out.

Winners will be announced at an event Sept. 30 at the Orchid Garden at Church Street Station in downtown Orlando. The date was selected to coincide with Orlando Tech Week. The awards program is named after the late William C. Schwartz, a community leader, business pioneer and innovator in the field of optics and photonics.

Two additional awards will be given during the celebration recognizing student entrepreneurs from top regional academic business competitions and an innovative company from the Florida High Tech Corridor Council.

�鶹ԭ��-Based Research Fuels $100k Win for Entrepreneur

Thu, 05 Jun 2014 17:49:47 +0000

A �鶹ԭ�� spinoff company received the $100,000 first-place award at the CAT5 innovation competition at Innovation Concourse of the Southeast: Manufacturing and Safety event in Orlando. The company took the top prize from a pool of more than 80 technology-based companies.

HySense Technology, founded by �鶹ԭ�� Florida Solar Energy Center (FSEC) researcher Nahid Mohajeri, produces and markets an intelligent tape that changes color in the presence of hydrogen and other gases.

“This is real validation, just the fact that people, the judges, believe in us,” Mohajeri said.

Mohajeri worked with the research team led by Ali Raissi at FSEC that developed the technology to detect hydrogen leaks wherever hydrogen is stored, transported, or transferred as part of a $20 million grant from NASA’s Glenn Research Center. Her company later licensed the technology from �鶹ԭ��.

HySense is marketing a specialty beige tape that turns black when hydrogen is detected. It can be wrapped around or attached to surfaces where gas might leak. Mohajeri has five customers so far, and is aiming for $90,000 total revenue this year.

“To have an awards program like this in Central Florida is huge,” Mohajeri added. “As scientists, we are very much aware that low wages are an issue in the region. But these awards can bring more high-paying jobs here. When people see that we have this level of support that makes a difference.”

The CAT5 competition is hosted by Space Florida and �鶹ԭ��. It showcases tech companies in the Southeast and attracts venture funding for entrepreneurs.

“T�� CAT5 awards support the idea that technology businesses are a key component to the enhancement of Florida’s future innovation and economic growth.” said Tom O’Neal, associate vice president of research & commercialization at �鶹ԭ��. “HySense is a clear example of such as success story.”

Visit for more information.

New Florida Economic-Impact Study Credits GrowFL as Major Job Catalyst

Tammie Nemecek — Tue, 27 May 2014 13:18:06 +0000

Five years ago, the GrowFL Economic Gardening® (GrowFL) program was created at the �鶹ԭ��. Between the 2012 and 2013 fiscal years, it has helped create nearly 3,745 net new jobs in the state of Florida, which also equates to $587 million added to Florida’s economy and nearly $20 million more in state and local tax revenues.

These figures are part of a new Florida economic impact study that credits GrowFL’s influence as a major job booster for second-stage companies, those that have 10 to 99 employees and between $1 million and $50 million in annual revenue.

“GrowFL has been critical to us,” said Mike Potts, chief engineer of feature[23], a Jacksonville software-development company. “We wouldn’t be in the position today to expand throughout Florida without their help.”

Potts said the GrowFL staff validated the company’s business model and provided the necessary plans to take it to market.

“From a strategic standpoint, that’s important to us because we don’t get much strategic advice,” he said. “T��y’re helping pair us with potential clients to expand to Tampa, Miami and Orlando. GrowFL has the connections we don’t.”

Other companies have benefited from GrowFL’s assistance around the state. They range from companies such as Envirobrite, a Sanford manufacturer of retrofit energy-efficient lighting kits to help reduce energy consumption; Germfree, an Ormond Beach manufacturer of biosafety equipment; and First GREEN Bank, a Mount Dora financial institution with eco-friendly principles.

“GrowFL’s purpose has always been to help companies overcome obstacles and become prosperous,” said Tom O’Neal, associate vice president of Research & Commercialization at �鶹ԭ�� and executive director of GrowFL. “Over the past five years, we have proven again and again that we are doing just that. Now we are being recognized as a major catalyst for helping second-stage companies succeed and for enhancing Florida’s economy through job creation. That is an accomplishment we can be proud of.”

GrowFL was created at �鶹ԭ�� by the Florida Legislature in 2009 to help companies boost their profitability and performance. �鶹ԭ��’s program was expanded to the state level in partnership with the Edward Lowe Foundation and the National Center for Economic Gardening as a laboratory to foster economic development.

Typical assistance to companies includes providing market research and new-media marketing, monitoring industry trends, assisting innovation, developing teams, and acquiring consumer feedback.

The new Regional Economic Impact Study was conducted by Vernet Lasrado, an assistant director in the Office of Research & Commercialization at �鶹ԭ��, as part of the program’s ongoing documentation of its productivity and sustainability.

The study pointed out the cost efficiency of GrowFL’s job creation in both rural and urban settings. During the study period between the 2012 and 2013 fiscal years, GrowFL received a variety of state, local and private sector funding sources investing $2.61 million in the GrowFL program. For every $1 invested into the program there was a return on investment of $7.58.

Other findings showed that GrowFL’s participating companies, as of June 30, 2013:

represented 13,493 total jobs in Florida

had an estimated sales output of $1.14 billion (since the GrowFL program’s inception)

contributed $2.33 billion (since the GrowFL program’s inception) to the Florida economy

“T�� GrowFL program has provided not only a proven pathway to a better future through innovation but a field-tested, robust, low-cost program for getting there,” said Chris Gibbons, founder of the National Center for Economic Gardening.

He said entrepreneurial growth companies create jobs that are well-paying with benefits, and they innovate much of the new wealth in the United States.

“Providing them essential tools to accelerate that process has turned out to be an effective solution to restoring the American Dream,” he said. “�鶹ԭ�� has been an ideal host since the beginning by continuing to focus on creating support for entrepreneurship and innovation.”

For additional information or if you are a high-growth company and want to become involved in the GrowFL program, click or call 407-823-6384.