Startup Companies Vying For Spots in University of Central Florida Business Incubation Program

ORLANDO, Fla. – Twenty startup companies will make final presentations before the University of Central Florida Business Incubation Program’s selection board next week as part of the application process to qualify for admission to the UCF Business Incubation Program at one of nine incubator facilities in Orlando, Winter Springs, Kissimmee, St. Cloud, Sanford, Leesburg or Daytona Beach.

Dr. Tom O’Neal, founder and executive director of the UCF Business Incubation Program, said the presentations tell the selection board if the companies are a good fit for the program.

“The companies aren’t competing against each other, but the presentations reveal if they are at a point in their development where they can benefit from the incubation program,” Dr. O’Neal said.

When the Volusia County Incubator opens, The UCF Business Incubation Program will support more than 100 startup companies selected for admission on the basis of their potential for success. Client companies range from technology companies focused on military and scientific markets to development of alternative energy to consumer fare such as a local beverage producer.

“We look at a wide range of factors, such as the qualifications of the principals and executives, their ability to develop their products and services for the marketplace, and the potential for commercialization of those products and services,” Dr. O’Neal said.

The UCF Business Incubation Program provides a range of support services including office space, telecommunications and planning, business development, sales and marketing coaching and assistance in development of capital resources.

“We are focused on one goal---to help our client companies become successful. Do that right and we generate local economic benefits such as the creation of quality jobs in the local area,” Dr. O’Neal said.

“Studies have shown that this sort of ‘homegrown’ economic development is by far the most cost-effective way to generate new jobs and economic growth.” he said.

About the UCF Business Incubation Program

Since its founding in 1999, the UCF Business Incubation Program has helped more than 160 emerging companies (including nearly 100 current clients) create over $800 million in annual revenue and more than 1,600 new jobs with an average salary of $59,000. With eight – and soon nine – facilities opened across the Greater Orlando community, the Business Incubation Program is a collaboration in economic development between the University of Central Florida, Orange County, the City of Orlando, Seminole County, the City of Winter Springs, The City of Sanford, Lake County, the City of Leesburg, Osceola County, the City of Kissimmee, City of St. Cloud, the Florida High Tech Corridor Council and will be adding Volusia County. For more information, please visit www.incubator.ucf.edu.