UCF / City of Orlando Incubation Partnership
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- Byron Emil Jennings
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1 UCF / City of Orlando Incubation Partnership Located near Orlando s vibrant downtown area, the Orlando incubator boasts a central location in Orange County, and serves a wide variety of startup companies. The 6,376-square-foot facility features 17 offices with flexible leases, conference room, training room, and shared office equipment, kitchen and reception area. The Orlando incubator was established in December 2007, as a partnership between the University of Central Florida, the City of Orlando and the Florida High Tech Corridor Council.
2 Goals of the Incubator Be a leading partner supporting the City of Orlando s Economic Development efforts Diversify the economic base of the region Help companies succeed, grow, and remain in Orlando Be a valued community asset with a good return on investment
3 Services UCFBIP Provide Adaptable space Flexible lease On-site business coaching and mentoring Entrepreneurship curriculum, seminars Access to community leaders and an exceptional advisory board Shared resources Reception area, conference rooms, business library, high speed internet access, work/break rooms, office equipment Networking, access to UCF technology, expertise and other UCF resources Access to interns and graduate student support
4 Business Incubation: A Smart place to start Increase chances of success 87 % of incubator graduates still in business 5 years later Home grown companies 84 % of graduates stay in the community they were incubated in Good investment Low cost per job generates more tax revenue than it costs 4
5 UCF Incubator Network Regional Impact $2.5 Billion $7.95 return for every $1.00 invested Sustains over 4,700 local jobs (Directly & Indirectly)
6 Orlando Incubator July 2008 June 2015 Study Regional Impact $235 million $8.69 return for every $1.00 invested Up from $3.31 in study Sustains over 691 local jobs (Directly & Indirectly) --Old data!
7 Orlando Incubator Facility has been full with a waiting list for approximately 3 years Smallest incubator facility in network sq. ft wise High performer Great asset with potential to do more
8 Other benefits Veterans Florida Program 15 Weeks both Online & Onsite Veterans commit to 15 hours per week 7 In Person Workshops on Saturdays + Business Competition Soft Landings Puerto Rico MOU to help them recover economically Visitors from all over the world to Orlando
9 Incubator Accomplishments Incubator of the Year 2004 Non-Tech Incubator Graduate of the Year BDG Construction Services 2012 Non-Tech Incubator Client of the Year Hometown Health TV 2012 Incubator Network of the Year 2013 Technology Incubator Graduate of the Year Optigrate 2014 Featured in many articles and books on best practices
10 Orlando Incubator Accomplishments New $50 million contract Veteran-owned business 10 new hires
11 Orlando Incubator accomplishments Rapid growth from FEMA and Irma Relief Service Disabled Veteran Business Adding 150 new jobs
12 Orlando Incubator Accomplishments Formed in January New $1.5 million contract Woman Owned Certified Disadvantaged Enterprise
13 Orlando Incubator accomplishments Shark Tank Winner Raised more than $20 million in capital Selling in 65 countries
14 What does the UCFBIP do? New Client Identify and strengthen the weak spots Add Value Graduate companies poised for success Marketing Sales Distribution Financial Technical IP Cash Management Manufacturing Contacts Incubator staff Community political support Technical expertise Business expertise Networking Regional professional service providers University resources Focus Tactics Strategy Connectivity Marketing Sales Distribution Financial Technical IP Cash Management Manufacturing Contacts UCFBIP. All rights reserved.
15 The Facility Opened in ,000 sq.ft. - 5 Client Offices Expanded in ,376 sq.ft Client Offices 15
16 New IP and Technology Early-stage Execs & C-level Mgrs Entrepreneurship / Innovation Ecosystem Universities and Colleges Non-profit Research Institutions and Hospitals Intellectual Capital Ecosystem Funding Sources Resource Providers and Support Economic Gardening Volunteer Mentors Peer Networking groups Incubators and Accelerators SBDC SCORE Service Providers Workforce Talent Pool Entrepreneurs Chambers Angels, VCs, Private Equity Philanthropy Banks Government grant and loan programs Corporate Partners Financial Capital State and Local Government Foundations and Individuals Businesses Advocates and Champions Policy Makers Government Economic Development Organizations Trade Associations Copyright O Neal
17 The path to success Success New innovation / startup Copyright O Neal
18 Questions? More info: or Dr. Tom O Neal Gordon Hogan Michael Weiss UCF Business Incubation Program UCFBIP s Incubation Process
19 Entrepreneurship Resources Features Incubator Accelerators NEC Co-Working Support Timeframe 2-5 Years 3 Months As Needed Month-to-Month Graduation Criteria X X Access to Legal & Financial Assistance X Business Introductions / Referrals Business Coaching/Mentoring X Educational Seminars / Workshops Networking Opportunities Business to Government Services X X Market Research Assistance X X Public Relations Assistance X X X Private Workspace / Meeting Rooms X Wi-Fi / Mail / Printing / Utilities X Free Coffee, Beer, Soda, and Snacks X X
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