Four companies have already graduated, most recently Shadow Health, which started with three employees and now employs more than two dozen.
“We are required to collect data and report back to the Economic Development Administration for the $8.2 million they granted us,” said Innovation Hub Director Jane Muir. “We contacted each of the companies and were thrilled with the numbers they reported in just ten months.”
UF Tech Connect, developed by UF Development Corp. in the Innovation Hub, recently received a $640,000 grant from the Economic Development Administration to help commercialize university research and create technology-based startup companies.
“OTL staff, Tech Connect staff, Innovation Hub employees and Resident Partners all work in collaboration,” said David Day, director of Office of Technology Licensing (OTL). “We all want these startup companies to succeed and we all help them do this in different ways. Education and networking opportunities are particularly vital.”
During the last fiscal year, UF Tech Connect client companies created 230 new jobs and generated $180 million in private investment. During that same time period, OTL executed a record-setting 79 licenses, and helped start 15 new companies founded on those new discoveries.