Issue 71 - October 2018
Institute Delivers Nearly $1.4 Billion Economic Impact
Impacts Increased Significantly Due to Funded Companies’ Growth
The Institute for Commercialization of Florida Technology (the Institute) has announced the results of a new study
conducted by The Washington Economics Group, Inc.®
, (WEG), a boutique economic consulting firm led by nationally recognized business economist Dr. J. Antonio (Tony) Villamil. The study measured economic impacts of the Institute during FY 2017-18 to update prior years’ studies, and concluded that the organization’s impact increased significantly as more companies continued to raise investment capital, create jobs, and bring innovative products to market.
The Institute supports new companies that create clean jobs in knowledge-based industries that are driving the global economy. By providing seed and early-stage funding, the organization enables businesses to develop and launch products in key industries, including life sciences, information technology, homeland security and defense, logistics and distribution, and manufacturing. Highlights of the new study include:
- Overall economic impact for FY2017–18 of $408 million, a 20% increase over FY2016–17;
- 2,636 total jobs supported in FY2017–18; a total of 8,940 between 2011 – 2018;
- Capital raised in excess of $255 million, a ratio of 10:1 of additional private investment following State funds provided;
- Annual return on investment (ROI) to the State of over 31x.
More information about the study may be viewed here.
Institute Bids Farewell to CEO Jackson Streeter, M.D.
The Board of Directors, staff and broader Institute community thank Dr. Streeter for his many contributions to the organization and to Florida’s innovation ecosystem, and wish him much continued success as he leaves the Institute to pursue new opportunities.
Register Today for the SEBIO Conference, November 13-14
The Southeast BIO (SEBIO) Investor & Partnering Forum
will be held November 13-14, 2018 at the Loews Hotel in Atlanta, GA. The conference provides opportunities to meet key decision makers in the regional and national life science and medical technology communities. More information about the conference and registration may be viewed here.
Research Park at Florida Atlantic University Celebrated 2018 Awards
The Research Park at Florida Atlantic University®
recently named the recipients of its fourth annual Research Park Annual Awards. The awards celebration took place on Wednesday, Oct. 3rd, in Boca Raton.
The Research Park awards recognize distinguished contributions to the Research Park’s mission to create and sustain the ideal environment for innovation and invention, maximizing the academic and entrepreneurial talent and regional resources in South Florida to accelerate economic development and prosperity. More information may be viewed here.
Registration Open for Florida Venture Forum Annual Conference
In celebration of the Florida Venture Forum's 35th Anniversary, the 28th annual conference will be held at the Vinoy Renaissance Resort in St. Petersburg, Florida on January 31 – February 1, 2019. The Annual Florida Venture Capital Conference™ is Florida’s most prominent, “Go To”, capital investment-centric event and gathering each year.
The 2019 Florida Venture Capital Conference offers numerous networking opportunities, programming featuring top investors and deal makers active in the state, and showcases Florida’s most innovative and fast growing later stage, private companies before an audience of venture capitalists, investors, and other service providers. More information may be viewed here.
Don’t Miss IT Palooza 2018!
7th Annual Event to be Held on December 13th at the Greater Ft. Lauderdale-Broward County Convention Center
ITPalooza is South Florida’s Premier Technology Conference, brought to you by the South Florida Technology Alliance
and the IT Palooza Organizing Committee.
Now in its 7th year, ITPalooza is the preeminent platform to drive business deals and forge valuable connections with local and regional tech professionals. More information about the conference and registration may be viewed here.
Formed by the Florida Legislature in 2007, the Institute for Commercialization of Florida Technology 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 $2.5B+ 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. Seventy-two companies have been funded to date, and the Institute’s economic impact through June 30, 2018 was $1.4 billion, with an annual return on investment of 31 times to the State of Florida.