Building Companies, Changing Lives
Issue 40 - March 2016
The Institute welcomes new CEO Jackson Streeter, who was appointed to the position effective March 14, 2016. Most recently Dr. Streeter served as the CEO of Banyan Biomarkers of Alachua, FL. During his time the company received over $75M in contracts and grants with the Department of Defense and raised $10M in private investment for the development of a first ever blood test for traumatic brain injury.
Prior to serving as CEO of Banyan Biomarkers, Dr. Streeter founded and served as CEO for PhotoThera, Inc. where he raised over $120M in private capital and was responsible for the design and management of five U.S. and international clinical trials. He was also the co-founder of American Veterinary Laser, inventor on over twenty patents and author of multiple scientific publications. Dr. Streeter has served on the following boards and executive committees: Florida Research Consortium, Governor's Life Science Task Force for the State of Florida, FBI counter terrorism south east working group, Walter H. Coulter Center Committee at the University of Miami and the Gainesville Chamber of Commerce Board of Directors.
The Institute has finalized a follow-on funding agreement with RxMP Therapeutics, LLC (RxMP), a Miami-based company with technology developed at the University of Miami. RxMP Therapeutics is an emerging speciality pharmaceutical company focused on developing proprietary drugs for the management of excessive bleeding. The company qualified for follow-on round funding after achieving significant development milestones since receiving initial funding from the Institute in 2014.
Athenian Venture Partners held their 2016 Annual General Meeting (“AGM”) on February 24 - 25, 2016 at the Marriott Harbor Beach Hotel, bringing together industry leaders, portfolio company executives, venture community resources and local business professionals for presentations, networking, and a panel discussion on statewide venture capital activity and the growth of Florida’s innovation economy. This year marked the first time the meeting was held in Florida, providing an opportunity for Athenian’s limited partners and other stakeholders to view first-hand Florida’s growing innovation ecosystem.
Founded in Athens, Ohio in 1997 and with a focus on early stage b2b technology, digital health and healthcare, Athenian recently expanded its ground presence in Fort Lauderdale and is now able to target investment opportunities in both regions.
At the AGM, Athenian’s Founder and Managing Partner, Karl Elderkin, delivered opening remarks and introduced special guest speaker Jennifer Simon from The Ohio University Innovation Center. Institute COO Jane Teague then presented initiatives that are fostering investment, business development and job creation in the Sunshine State, and moderated a panel discussion that featured Nabyl Charania, Rokk3r Labs, David Day, University of Florida, Kim Gramm, Florida Atlantic University, and Rob Strandberg, Enterprise Development Corporation of South Florida, with each focusing on Florida successes and the increasingly favorable business climate for innovation and opportunity.
Given the large turnout and interest generated at the event, coupled with Athenian’s expanded presence in South Florida, Athenian may well make Fort Lauderdale the new location for its annual meetings going forward.
SharpSpring (NASDAQ:SHSP) has become a Gold Level member of the Institute’s Leadership Council, making it the first Institute-funded company to give back to the organization after achieving significant growth. SharpSpring is a global provider of cloud-based marketing technologies that was funded through the Institute’s Seed Capital Accelerator Program in 2012. The company is headquartered in Gainesville where it currently employs over 80 resources.
Florida Corporate Income/Franchise Tax Research and Development Tax Credit
Applications for Allocation of Credit Open March 20-26, 2016
Beginning Sunday, March 20, 2016, 12:00 a.m., Eastern Time (ET) and ending Saturday, March 26, 2016, 11:59 p.m. (ET), qualified target industry businesses subject to the Florida corporate income tax may apply online for an allocation of Florida research and development tax credit for expenses incurred in the 2015 calendar year.
The application will be available on the Department of Revenue website on the Tax Incentives page. When the completed application is submitted online, the Department will provide a confirmation number, indicating receipt of the application.
The Broward County Office of Economic and Small Business Development(OESBD) held their inaugural 2016 Capacity Building Conference on March 4-5, 2016 at the Broward County Convention Center. The conference was themed “Strategic Pathways for Growth” and was designed to help local businesses achieve sustainable success that will positively impact the local economy. The conference provided a platform for entrepreneurs, corporations and government entities to participate and engage in a series of relevant educational and networking events.
The event featured a panel called "Equity Investment Capital -- The Ins and Outs of Equity Financing for Your Business” which was moderated by Institute COO Jane Teague, and included panelists Jonathan Cole, Locke Lord, Orin Levy, New World Angels, and Brian Brakeen, Kairos, a Miami-based company funded by the Institute. The session focused on raising equity financing as a way to fund your startup, and how to align your business goals and objectives with those of potential investors. It also included an overview of recent developments on crowdfunding as a way to finance your startup.
Pictured above (l-r) are Grooms with Arielle Brazeal, Eric Buffkin, Vicki Piazza and Jane Teague, and Lee May
The Institute held a reception in February to honor Jamie Grooms, where attendees had the opportunity to celebrate his significant achievements while CEO of the Institute, and wish him well on his future endeavors. The reception was held at Sabore Restaurant in Gainesville and co-sponsored by Gray Robinson Attorneys at Law.
Join the BioNetwork Partnering Summit for BioNetwork East 2016 on May 2-4, 2016 at the Reunion Resort in Kissimmee, FL. Launched in 2003 the BioNetwork is a platform for business development executives across the pharmaceutical and biotechnology space to come together in an intimate setting and develop relationships that lead to strategic partnerships. BioNetwork East showcases products from business services, environment and waste management, plant, machinery and equipment, research and development industries. More details and event registration may be viewedhere.
Register Today for Florida Venture Forum
2016 Florida Early Stage Capital Conference
Join the Florida Venture Forum and its partner, Space Florida, for the Ninth Annual Florida Early Stage Capital Conference and the Sixth Annual Statewide Collegiate Business Plan Competition on May 17, 2016 at the Hilton Carillon Park in St. Petersburg, Florida. Listen to pitches from some of the most dynamic Florida-based early stage companies and network with investors. Presenting companies will be selected by a panel of judges to win up to $150,000; applications for presenting companies are now open and may be viewed here.
The Ninth Annual Florida Early Stage Capital conference will feature expert panel discussions, exclusive investor networking opportunities, speakers, and presentations by many of Florida’s top entrepreneurial companies. More details and event registration may be viewed here.
Save the Date for 18th Annual HHS SBIR/STTR Conference
The 18th Annual HHS SBIR/STTR Conference will be held on November 15-17, 2016 at the DoubleTree by Hilton at SeaWorld in Orlando, FL. The HHS/STTR Conference helps small businesses in the life science sector learn more about over $870 million dollars of annual HHS funding that is available to forge academic partnership and build new businesses based on recently developed biotechnology. Attendees will discover how to successfully submit an application; tips for approaching partners and investors; the types of technical assistance programs HHS offers to awardees; and have the chance to discuss specific questions with HHS SBIR and STTR subject-matter experts. More details and event registration may be viewed here.
About Us
Formed by the Florida Legislature in 2007, the Florida Institute for the Commercialization of Public Research is a non-profit organization that works collaboratively with the technology licensing and commercialization offices of Florida’s state universities and private research institutions to leverage a $2B+ research base and form investable companies that create clean jobs in new industries that are driving the global economy. The Institute provides company building services, and seed funding through the Florida Technology Seed Capital Fund, to promising Florida startups. Forty-eight companies have been funded to date, and the Institute’s economic impact through June 30, 2015 was $379 million, a return on investment of 14 times to the State of Florida.