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New program will provide seed capital to USF start-up companies

October 23, 2013

USF incubator companies can tap up to $50,000 to get products to market faster

By Lauren Golin
USF Research News

TAMPA, Fla. – 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, USF senior vice president for Research & Innovation. “This innovative program can help early-stage companies grow their business and succeed, while also providing a positive economic impact for Florida.”

For more information, please visit the Seed Capital Accelerator Program page.

Lauren Golin can be reached at lgolin@usf.edu or 813-974-0102.

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