Startup Funding 101 (Part 2)

Our previous funding blog presented the different forms of funding available to startups and the pros and cons of each.  When starting a company, funding is a critical component in helping move your innovation forward.  

USF has a robust innovation ecosystem supports researchers, inventors, and entrepreneurs as they translate technology from the lab to the marketplace. The Innovation Ecosystem’s expertise, resources, and facilities work together to foster the growth of early-stage technologies and entrepreneurial start-up companies. Tech Transfer works closely with its university startups to identify and assist with funding opportunities and promotes programs designed to help reduce risk and support early-stage companies to a point where they can attract other sources of funding. Here are a few of the programs to help fund startups. 

NSF I-Corps at USF 

NSF I-Corps is a public-private partnership program that teaches university entrepreneurs with a targeted curriculum to identify valuable product opportunities from academic research and offers entrepreneurship training to participants. As a designated I-Corps Site, USF provides teams infrastructure, advice, resources, networking opportunities, training and up to $3,000 in funding to enable groups to transition their work into the marketplace or into becoming I-Corps Team applicants. 

With the support and mentorship of this program, teams can learn first-hand about entrepreneurship and explore the transition of their ideas, devices, processes or other intellectual activities into the marketplace. 

To learn more about this program: https://www.usf.edu/research-innovation/innovation-enterprise/i-corps/index.aspx 

Foundation Bull Ring Accelerator Grant program 

The Foundation Bull Ring Accelerator Grant program (BRAG) is designed to support early-stage Tampa Bay Technology Incubator (TBTI) affiliated start-up companies that were formed on the basis of licensed USF technologies. 

BRAG provides up to $25,000 of grant funding to support the entrepreneurial ecosystem at USF and help bridge the “valley” or “ditch” of death experienced by early-stage technology companies. The goal of this program is not to replace private capital, but to help reduce risk and develop start-ups to a point where they can attract other sources of funding.  

To learn more about this program: https://www.usf.edu/research-innovation/innovation-enterprise/usf-research-foundation/usf-startup-funding.aspx 

The Corridor Matching Grant Research Program 

The Florida High Tech Corridor’s Matching Grants Research Program fosters applied research and connections between industry partners, and faculty and student researchers at the University of South Florida. 

The Matching Grant Research Program at USF can provide up to $150,000 in matching grant funds for collaborative research projects between local industry partners and USF researchers, including Small Business Innovation Research (SBIR) / Small Business Technology Transfer (STTR) funded projects. Corridor funding is used to expand the project’s scope of work and support cutting-edge research endeavors to benefit local industry, the university, and the region. 

To learn more about this program: https://www.usf.edu/research-innovation/innovation-enterprise/florida-high-tech-corridor/matching-grant-research-program.aspx 

Small Business Innovation Research and Technology Transfer Programs (SBIR/STTR) 

The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs are United States government programs that award grants to small businesses to support innovation and scientific excellence. These programs provide non-dilutive federal funding to U.S. small business bringing innovative technologies to market and can be a great resource to USF start-up companies and collaborating companies. 

To learn more about this program: https://www.usf.edu/research-innovation/innovation-enterprise/florida-high-tech-corridor/sbir-sttr-programs.aspx 

Florida Funders 

Florida Funders is a hybrid between a venture capital fund and an investor network that discovers, funds, and builds early-stage technology companies.  Florida Funders has been called the most active VC with the biggest investor network.  The Florida Funders has a Venture Partner Program to help their companies by hand-selecting the right investors to guide them through their growth.   

To learn more about this program: https://www.floridafunders.com/ 

Though startup funding can be overwhelming, understanding the types of startup funding and what is available to you can help.  The programs identified above can be a great resource for funding for your startup. For more information on USF startups and resources, please visit: https://www.usf.edu/research-innovation/pl/startups-news/index.aspx