Global Ventures Accelerates Growth of Second Stage Tech Companies
Global Ventures is an entrepreneur support initiative for established international and US tech companies ready to scale up to the next level of growth. The initiative seeks to scale-up second-stage companies into profitable and sustainable companies.
Second stage companies are those that have achieved approximately $1 million in annual sales and employ at least six people.
When Brazilian IT firm Systech was looking to expand to the U.S., CEO Luiz Cordeiro had a must-have list of attributes any destination needed to offer.
He wanted office space on a campus shared by other growing companies with whom he could collaborate, explore new strategies, and build relationships. Cordeiro was hoping to find help introducing his team to industry and regional contacts, conferences, and to be part of a larger community.
The Global Ventures initiative at the Research Park at Florida Atlantic University® in Boca Raton checked all his boxes. With more than 30 park tenants, a robust and research-focused university environment, and a prime, central location in South Florida’s thriving technology marketplace, Systech USA made the move in March 2020.
“We built our company based on human capital and hard work,” he says. “We believe Global Ventures is the right place to explore new markets and relationships, and to accelerate our growth.”
The Global Ventures initiative recently earned the Soft Landings Center designation from the International Business Innovation Association.
The initiative aims to assist technology-based companies attracted by FAU’s academic offerings, including professors and student-interns from its colleges of engineering, science, medicine, and business.
Target industries for Global Ventures include sensors and networks; human health, including healthcare IT and medical devices; environmental and ocean engineering and computational sciences, including AI, machine learning and big data. The target industries are those in which Florida Atlantic University has developed key strengths and resources for collaboration.
Funded in part by Palm Beach County and the City of Boca Raton, Global Ventures introduces the companies to GrowFL’s system for integrated growth, providing each company with up to 40 hours of consulting time in the areas of lead generation, marketing, and strategic development.
Other partners include Enterprise Florida, Small Business Development Center at FAU, the Brazilian Business Group, Boca Raton Chamber of Commerce, City of Boca Raton, Palm Beach County’s Department of Economic Development and the Florida-Israel Institute at FAU.
GoAwake also arrived from Brazil, hoping to bring its vehicular accident application to the U.S. The system identifies signs of driver fatigue and distraction while a vehicle is in motion. It alerts the driver, and records and sends the findings to a control center.
The U.S. is ready for an application like GoAwake, and Global Ventures was an ideal beachhead for its debut in a state with about $1 trillion in GDP, says Paulo Jotz, head of business development with GoAwake.
“Global Ventures is well positioned in a prosperous region full of opportunities,” he says. “We recognize the strategic role the Global Ventures holds for GoAwake. Andrew and his team are providing all the necessary support for our business development and growth in the most prosperous economy in the world.”
Interest is Global Ventures is growing as more companies learn about the program. Each new company brings fresh investment, thinking, and employment for the local economy, Duffell says.
“The goal is to grow them into corporate citizens, who will create higher-paying jobs, infuse new capital into the local economy, and bring a fresh approach to innovation,” he says. “It’s a trifecta of benefits that make international companies a perfect fit for local business development efforts.”
To learn more about Global Ventures and to apply, please visit Research-Park.org/Global-Ventures.