August 31, 2014

A Florida TaxWatch economic report

Commercializing Florida's public research

| 3/26/2014

The Institute is staffed with personnel who have experience as entrepreneurs and with business development. The CEO is Jamie M. Grooms, who has been involved with startup companies as an advisor, and on their board of directors.

Mr. Grooms has co-founded several companies, and has extensive experience in company and business development, as well as raising capital throughout all stages of growth.

The Institute’s other key employees have experience with managing funding programs, coaching, planning, developing startup businesses, and developing products. The Institute also has three professionals called “Entrepreneurs in Residence” located around the state. These professionals have experience in a wide range of fields such as product development, business development, strategic planning, and corporate management.

Companies seeking support from the Institute must be located in Florida and receive a recommendation from the publicly funded university or research institute’s Technology Transfer Office where the technology was developed. Additionally, companies seeking funding from the Institute must secure matching funds from qualified private sector investors.

The Institute manages the Seed Capital Accelerator Program that was launched in 2011, as well as the Florida Technology Seed Capital Fund that was created in 2013. These programs provide seed funding to qualified companies to help them build prototypes, purchase materials, contract with other companies for services, and pay salaries and expenses to help the companies get their products more quickly to the market.

Institute’s Advisory Board

The Institute uses its Investor Advisory Board to review company presentations and to provide feedback to help companies with their fundraising efforts. This Board also recommends which companies the Institute should fund.

There are 26 members of the Investor Advisory Board made up primarily of key members of the venture capital community throughout the U.S.

» NEXT PAGE: Chart of Companies Funded by the Institute

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