ST. PETERSBURG, Fla. – (Aug. 9, 2017) –Tampa Bay Innovation Center, an innovation and entrepreneurship center, has announced the results of a successful fiscal year that featured 59 clients with 207 employees, client revenues of nearly $10.5 million, five trademarks filed and three patents filed.
“Although we tend to be conservative in reporting our results, we are very pleased with the success our clients have experienced,” says Tonya Elmore, president and CEO of Tampa Bay Innovation Center/TEC Garage. “We could not have achieved these results without the efforts of a great staff, board and tireless volunteers and mentors.”
Highlights of the fiscal year from July 1, 2016 through June 30, 2017 include:
- A total of 59 clients that includes 33 incubator clients and 26 coworking clients
- Incubator clients:
o Incubator clients represent 20 housed at TEC Garage and 13 virtual clients, located in St. Petersburg, Largo, Clearwater, Palm Harbor, Tampa, Lakeland and Sarasota.
o Incubator clients have 110 direct and 25 contract employees.
o Of the 33 incubator clients, 16 have a total of $10,448,000 in revenues and have raised funding in the amount of $2,645,000. They have 80 direct and 25 contract employees.
o The remaining 17 incubator clients are pre-revenue with 30 employees.
o Incubator clients have filed eight trademarks with five awarded; one copyright awarded; three patents filed and three patents awarded.
- Coworking clients:
o TEC Garage has housed 20 independent coworkers and another 46 employees in companies using coworking space.
- In addition to the typical coworking benefits, TEC Garage has a program in place to help our coworkers with introductions to potential customers and to help develop partnerships where there is a match. This program has created numerous opportunities for the coworkers’ growth with an estimated $500,000 in revenues attributed to its success.
- Other results:
o Eight companies graduated from the incubator program during the year.
o There were 25 graduates of the CO.STARTERS Business Canvas Model for Entrepreneurs, which this year added artists and creatives to the previous audience of tech startups.
o Events sponsored by Tampa Bay Innovation Center attracted 525 attendees.
o Volunteer/mentor hours were 150.
“During the next year, we will be proceeding with our plans for expanded space to serve the growing demand,” says Elmore. “We are proud of our accomplishments and look forward to being able to serve more entrepreneurs going forward.”
About Tampa Bay Innovation Center:
Tampa Bay Innovation Center supports entrepreneurial success, fosters the creation of high-tech jobs and develops new sources of technology and manufacturing capabilities by nurturing early stage ventures as they grow and launch their products into the marketplace. Through its TEC Garage, the Innovation Center offers programs that are tailored to the innovator/entrepreneur and address business intelligence, planning and business formation, strategy execution and technology transition. Follow Tampa Bay Innovation Center on Twitter, www.twitter.com/tbinnovates, and on Facebook atwww.facebook.com/tbinnovationcenter.
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