Issue 87 – July 2020

Update from the Institute

One month ago, Florida recorded just over 75,000 confirmed COVID-19 cases. Since then, the daily average new cases have increased consistently to a point where we have exceeded a total of over 315,000 cases state-wide. By the end of June, the percentage of new positive COVID-19 cases surpassed the 10% mark for the first time since the outbreak. During these challenging times, we encourage you to stay safe and take all necessary precautions to protect yourself and your loved ones. The Institute commends all the entrepreneurs and businesses who have dedicated themselves improve everyone’s lives throughout Florida. Each day, we hear success stories from companies providing critical work fighting this pandemic. These successes and the courage of many individuals who step up during these trying times provide us with the necessary confidence that we will get through this pandemic.


Receive the Latest COVID-19 and Economic Stats for Florida

The Florida Chamber of Commerce and many of its Stakeholders have worked tirelessly to provide a dynamic online tool to identify and track key metrics on Florida’s economy and COVID-19. The Florida Scorecard gives stakeholders the power to measure progress on a statewide level and within their own communities. Frequent updates make this tool extremely useful to be updated on the latest developments in the Sunshine State. 


Shadow Health Helps Nursing Programs Transition to Virtual Environment During COVID-19

Most critical for the wellbeing of all of us during the COVID-19 crisis is the nursing and medical sector. One of the Institute’s portfolio companies Shadow Health is providing online teaching and clinical replacement opportunities to nursing educators at more than 500 colleges across the country with their much-needed simulation products. While most organizations experienced cancellations and shutdowns due to the COVID-19 outbreak, healthcare professionals had to step up to the challenge.

With an increased demand for nurses to take care of patients with severe conditions, nursing schools had to adapt to the current situation by providing additional coordinated virtual learning programs. Throughout the last quarter, more than 46,000 students benefited from Shadow Health's pilot program of their newest products. The company also hosted several webinars about best educational practices in the use of simulations, with thousands of attendees from institutions across the country.


TAO Connect Fills Critical Mental Health Need During COVID-19

The TAO Connect (Therapist Assisted Online) platform is an effective treatment that allows the patient or client to proactively work on behavioral change and the clinician to monitor progress on treatment tasks and symptom change over time. The result is an effective treatment with one-third the counselor time and half the overall cost of traditional face-to-face individual treatment. College and university counseling centers, employee assistance programs, outpatient mental health clinics, VA medical centers, community mental health centers, and private practitioners benefit from TAO Connect’s behavioral health tools, including 400 videos and hundreds of interactive exercises powered by artificial intelligence.

During the COVID-19 outbreak, many classes went online, and counseling services for universities had to transition to an online environment as well. TAO Connect was able to serve this crucial need in a critical time around the country.

More on TAO Connect and the recent success of many Tampa Bay startups amid the COVID-19 outbreak can be found here.

About Us

Formed by the Florida Legislature in 2007, the Institute for Commercialization of Florida Technology supports and funds innovation 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 that are developing products that improve and save lives and help companies improve their bottom line. The organization’s investment decisions are guided through a strong partnership with its Private Fund Manager, Florida Funders. The Institute’s economic impact between 2011 and 2019 was $1.9 billion, with an annual return on investment of 31 times to the State of Florida.