Spotlight
Up to the Challenge
A $1 million grant awarded to a USF-led partnership could help launch new companies and create hundreds of high-wage jobs in the Tampa Bay region.
The i6 Challenge Grant, awarded by the U.S. Commerce Department, will support new Web and mobile app ventures. It is one of just seven i6 Challenge grants awarded nationwide this year, and the only one in the southeast. An estimated 245 high-wage jobs totaling more than $15 million in annual salaries will be created as the project pairs selected ventures with dedicated mentors and supports the fledgling businesses with an array of resources and services.
The partnership pairs USF with Tampa Bay WaVE, the Florida High Tech Corridor Council, Tampa Bay Technology Forum, the City of Tampa, Hillsborough County, the University of Tampa and various private companies.
The grant will help at least 50 Florida-based startup companies secure early-stage funding to grow into viable high-tech companies. Along with the $1 million grant, another $1 million in cash and in-kind contributions will be provided from members of the partnership.
Grant monies will also help establish and operate The FirstWaVE Venture Center, an innovation and incubation center to be headquartered in downtown Tampa. The center will initially serve the eight Florida counties that make up the greater Tampa Bay area, but is designed to create an innovation ecosystem that can be replicated in other Florida regions.
Linda Olson, founder and executive director of Tampa Bay WaVE, a nonprofit organization dedicated to helping entrepreneurs turn technology ideas into high-growth business ventures in Tampa Bay, says the grant was the result of "unprecedented collaboration between the academic, governmental and business communities of Tampa Bay."