USF incubator companies can tap up to $50,000 to get products to market faster
TAMPA, Fla. (October 23, 2013) – The University of South Florida Research Foundation has announced a Seed Capital Accelerator Program for Tampa Bay Technology Incubator (TBTI) affiliated companies. The program was designed to support and provide funds to new and existing TBTI affiliated startups that were formed based on the licensing of USF technologies.
The new program provides up to $50,000 of funding to enable startups to quickly improve the odds of overcoming immediate obstacles to commercialization that would provide a measureable outcome and return on investment in the near term.
“The objective of the Seed Accelerator program is to help companies reach specific goals in a year or less, allowing startups to reach critical development milestones and get to market quicker,” said Valerie McDevitt, assistant vice president for Patents & Licensing at USF. “TBTI and USF Patents & Licensing will provide support and training along the way and supervise funded tasks.”
The funding provided to companies will be based upon agreed project objectives being met, and may be used to build prototypes, obtain materials, pay salaries, contract for services and assistance outside the university, or cover other expenses as approved. The deadline for TBTI affiliated USF startups to apply for the first round of funding is Nov. 15, 2013.
“The Seed Accelerator program provides an exciting opportunity to invest in our university startups,” said Paul R. Sanberg, senior vice president for Research & Innovation at USF. “This innovative program can help early-stage companies grow their businesses and succeed, while also providing a positive economic impact for Florida.”
For more information on the Seed Capital Accelerator Program, visit: http://www.research.usf.edu/rf/seed-accelerator.asp
About the University of South Florida
The University of South Florida is a high-impact, global research university dedicated to student success. USF ranks 50th in the nation for federal expenditures in research and total expenditures in research among all U.S. universities, public or private, according to the National Science Foundation. Serving more than 47,000 students, the USF System has an annual budget of $1.5 billion and an annual economic impact of $3.7 billion. USF is a member of the American Athletic Conference and a Charter Member Institution of the National Academy of Inventors.