Incubator program nurtures the development of start-up companies
CEO Walker Peek with Tampa Mayor Bob Buckhorn at the grand opening ribbon cutting (Photo courtesy of Residential Acoustics).
TAMPA, Fla. – Residential Acoustics, a Tampa Bay-based company founded in 2013, has graduated from the University of South Florida's Tampa Bay Technology Incubator (TBTI). The company produces patented soundproofing curtains that block out unwanted noise in homes and joins 51 other TBTI companies that have completed the program.
With the recent opening of a larger manufacturing facility, including a new warehouse, Residential Acoustics has expanded their production levels, allowing them to produce their full AcousticCurtain™ product line faster and more efficiently. The company, which provides 11 local jobs, was also a recent finalist in the Bright House Regional Business Awards startup category.
The support and advice provided during TBTI mentor strategy sessions helped Residential Acoustics reposition the company and accelerate their growth in the region, according to Walker Peek, Residential Acoustics' founder and CEO.
"During Incubator round table discussions, the insight and constructive feedback we received positioned us to pivot our business to fulfill the needs of an entirely new demographic," said Peek. "Entering the hospitality and property management industries advanced our manufacturing processes, fostered new product development and caused rapid growth with volume and repeat orders."
"We are so pleased with the accomplishments and growth of Residential Acoustics and what they have gained from the Incubator program," said Shri Goyal, executive in residence and chair of the Council of Professionals at USF CONNECT, which is home to TBTI on the USF Tampa campus. "The goal of TBTI is to meet the individual needs of our clients and provide them with the most relevant resources to help grow their companies, and this model has been very effective while working with Residential Acoustics."
TBTI incubator companies receive in-house business development assistance from counselors, mentors and an entrepreneur-in-residence. Participants have access to dedicated wet lab and office space as well as critical costly research equipment.
"Successful business leaders and subject matter experts form our incubator mentor team," said Goyal. "Their close participation in planning, periodic progress-evaluation and fine-tuning strategy as an impartial yet valuable team member hugely contributes to the success of our companies."
TBTI supports technology research as a catalyst for economic development and advocates the creation and development of facilities for high-technology companies and related support functions. USF's incubator program currently supports 64 companies, resulting in 230 jobs created and retained and $34.8 million in total annual sales revenue.
About Residential Acoustics
Founded in 2013, Tampa-based Residential Acoustics designs, manufactures and sells patented window curtains and door coverings that diminish external noise transfer by up to 90%. The manufacturing company has patents on its flagship products, the AcousticCurtain™, AcoustiDoor™, and AcoustiTrac™, and provides both commercial and residential soundproofing products throughout the US. Residential Acoustics products can be found on its website at residential-acoustics.com.
About the Tampa Bay Technology Incubator
The University of South Florida's Tampa Bay Technology Incubator (TBTI) is one vehicle through which USF CONNECT grows successful companies. TBTI supports technology research as a catalyst for economic development and advocates the creation and development of facilities for high-technology companies and related support functions. USF CONNECT focuses on the needs of Tampa Bay's technology and bio/life sciences entrepreneurs throughout the business life cycle, providing the facilities, partners and resources for successful business development. USF CONNECT offers access to technologies, workforce programs, technology commercialization, critical research equipment, and incubator facilities, adding value and delivering targeted, high level expertise to its member businesses.
The University of South Florida is a high-impact, global research university dedicated to student success. USF is a Top 25 research university among public institutions nationwide in total research expenditures, according to the National Science Foundation. Serving over 48,000 students, the USF System has an annual budget of $1.6 billion and an annual economic impact of $4.4 billion. USF is a member of the American Athletic Conference.
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