UCF Business Incubation Program to Expand to Leesburg, St. Cloud

UCF Business Incubation Program to Expand to Leesburg, St. Cloud

ORLANDO, Fla. - The University of Central Florida Business Incubation Program, which currently serves more than 70 full-time clients in five Central Florida facilities, plans to expand to include programs in Leesburg and St. Cloud.

Dr. Tom O’Neal, associate vice president for the University’s Department of Research & Commercialization and executive director of the UCF Business Incubation Program, said he expects to open operations in St. Cloud and Leesburg by next spring.

Currently, the UCF Business Incubation Program operates two facilities near the University of Central Florida campus in Research Park, and three more – on Orange Ave. in downtown Orlando, in east Orlando on East Colonial and in Winter Springs at S.R. 434 and the 417.

“Effective incubation programs have proved to be the most cost efficient ways to stimulate local economic growth,” O’Neal explained.

O’Neal, who founded the UCF Business Incubation Program and ranks as one of the leading U.S. experts on business incubators, said successful incubation programs offer several common characteristics including: stable, sustainable program funding; a strong market position; entrepreneurial management; affiliation with a major research institution; a blue-ribbon board of directors or advisors; the ability to attract quality client companies; a strong client screening process; measurable goals and objectives; strong value-added services; and access to investment capital and community partnerships.

For more information contact:

Tom O’Neal. Ph.D, UCF Associate Vice President for Research and Commercialization and Incubation Program Executive Director, 407-882-1120, oneal@mail.ucf.edu

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 Lvershelco@aol.com

About the UCF Incubation Program:
Since its founding in 1999, the UCF Incubation Program has helped more than 100 emerging companies (including nearly 70 current clients) create over $500 million in annual revenue and more than 900 new jobs with an average salary of $59,000. With five facilities across the metro Orlando community, the Incubation Program is a collaboration in economic development between UCF, Orange County, the City of Orlando, Seminole County, the City of Winter Springs, and the Florida High Tech Corridor Council. For more information, please visit http://www.incubator.ucf.edu/.

UCF and City of Orlando Business Development Center on Colonial Drive to Expand

UCF and City of Orlando Business Development Center on Colonial Drive to Expand

ORLANDO, Fla. - The Orlando Business Development Center District 2, (OBDC) a partnership of the City of Orlando and the University of Central Florida Business Incubation Program, located at 3218 E. Colonial Drive, will expand over the next 90 days.

Dr. Tom O’Neal, associate vice president for the University’s Department of Research & Commercialization and executive director of the UCF Business Incubation Program, said the center will more than double the size of its facilities from 2,400 square feet of office space to 6,000 square feet.

O’Neal said UCF is currently interviewing applicants to choose a full-time site manager for OBDC, which opened last year directly across from Fashion Square mall.

“Even in this economic slump, we are seeing a steady interest in business incubation from new companies in the community and we are increasing our capacity to serve more entrepreneurial enterprises,” O’Neal explained.

O’Neal said the Orlando Business Development Center was empowered by a recent nationwide study that shows business incubators rank as the most cost effective stimulators of local economic development.

“Job growth and economic activity in the U.S. are largely dependent on the health of small business enterprises, and effective business incubator programs are one of the best ways to stimulate small business growth and development,” O’Neal said. O’Neal said UCF Business Incubation Program client companies are already positioning themselves to take advantage of new funding offered by the U.S. Economic Recovery Act and stimulus programs.

The UCF Business Incubation Program currently serves more than 70 full-time client companies in five locations, and provides a wide range of walk-in services.

For more information contact:
Tom O’Neal. Ph.D, UCF Associate Vice President for Research and Commercialization and Incubation Program Executive Director, 407-882-1120, oneal@mail.ucf.edu;
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 Lvershelco@aol.com

About the UCF Incubation Program:
Since its founding in 1999, the UCF Incubation Program has helped more than 100 emerging companies (including nearly 70 current clients) create over $500 million in annual revenue and more than 900 new jobs with an average salary of $59,000. With five facilities across the metro Orlando community, the Incubation Program is a collaboration in economic development between UCF, Orange County, the City of Orlando, Seminole County, the City of Winter Springs, and the Florida High Tech Corridor Council. For more information, please visit http://www.incubator.ucf.edu/.