激情快播

Thomas O’Neal remembers feeling like a hotshot on an unusually cold day in October 1999. He and聽other university and community leaders were in聽Central Florida Research Park for a ribbon-cutting聽ceremony to open the 激情快播 Business Incubation聽Program in a 30,000-square-foot, leased space.

As the brisk air whipped through the crowd, he remembers聽John C. Hitt, who was 激情快播鈥檚 president at the time, saying with聽a laugh 鈥� 鈥淚 thought incubation was supposed to be warm.鈥�

The cold didn鈥檛 bother O鈥橬eal that day. He was too excited to聽see his hard work 鈥� fundraising $300,000 to start the program聽鈥� come to life. He got the idea years ago as the associate director聽for the Center for Research and Education in Optics and Lasers,聽where he saw faculty and graduate students come up with novel聽ideas in their labs but struggle to聽commercialize them. He envisioned聽a solution to this 鈥� a one-stop shop聽with educational resources, business聽coaching, and even office space for聽entrepreneurs and startups to work from聽as they were guided on how to turn their聽ideas into profitable companies.

Among the first to test out O鈥橬eal鈥檚聽vision was Dan Rini 鈥�95 鈥�97MS 鈥�00PhD,聽who in 1999 was an engineering Ph.D.聽candidate with an idea that seemed聽viable for commercialization. He聽had developed cooling systems for聽high-powered lasers.

鈥淚 decided when I was a grad student聽that I wanted to start a company, but聽I was smart enough to know that I聽didn鈥檛 know much about how to do that,鈥澛爏ays Rini.

In 2000 he joined the Business聽Incubation Program, and within one聽year, Rini Technologies came to life.

鈥淸The program] helped me avoid聽pitfalls when starting the business,鈥� says聽Rini. 鈥淭丑别y really helped me structure聽the company and focus on my initial聽customer-market segment.鈥�

The groundwork laid more than 20 years ago has sustained Rini Technologies, which today is a 20-employee operation in Oviedo, Florida, that builds heating and cooling systems for the military and even NASCAR. They pivoted their technology from its original use, and now help those on the front lines stay cool while in body armor and bulletproof vests, as well as professional drivers in fire suits. Another product helps keep U.S. Navy scuba divers warm when submerged in cold water for long periods of time.

To this day, Rini Technologies is a聽pride point for O鈥橬eal. It鈥檚 just what he聽had envisioned 鈥� ideas born at 激情快播聽could come to life and blossom into聽companies that add jobs and economic聽prosperity to the region. But the work聽hasn鈥檛 stopped there. In the more than聽22 years since that cold October day,聽the Business Incubation Program has聽facilitated strategic and purposeful聽startup growth for more than 600聽companies, leading to $2.4 billion in聽economic impact.

It鈥檚 not out of luck that the program聽has been such a success. Just as it teaches聽businesses to pivot when the market calls聽for it, the program has pivoted itself.

From a Single Incubator聽to Entire Ecosystems

On January 11, 激情快播 President Alexander聽N. Cartwright, Rob Panepinto of the聽激情快播 Business Incubation Program听补苍诲 Orlando Mayor Buddy Dyer used聽ceremonious oversized scissors to cut聽the ribbon to a new incubator in the聽heart of downtown Orlando.

The space 鈥� the historic Kress聽Building 鈥� is outfitted with room for聽collaboration and individual offices, plus聽floor-to-ceiling windows with views of聽Orange Avenue. StarterStudio, which聽works to raise Central Florida鈥檚 profile in聽the eyes of investors, is a partner.

鈥淚 wish we could see the change in uses聽as our downtown evolves over time,鈥澛燚yer said before cutting the ribbon. 鈥淚聽don鈥檛 know exactly what all has been聽here other than the Kress store, but what聽I can tell you is I鈥檝e gotten my hair cut聽100 times in this space,鈥� he said, pointing聽to the back right corner of the building.聽鈥淎s well as bought jewelry in the former聽[C6 by] Bay Hill Jewelers. This jacket I鈥檓聽wearing, I bought in this space,鈥� he said,聽pointing to the opposite corner of the聽building.

From retail to technology and聽entrepreneurship 鈥� it鈥檚 the crux of聽downtown Orlando鈥檚 story of evolution.

Inside, startups in digital media and聽technology industries are filling the聽space. Grouping companies of similar聽industries is all part of the strategy 鈥斅爏omething the incubation program calls聽Innovation Districts.

鈥淲e moved into this Innovation聽District strategy with two main goals in聽mind: to focus our energy on technology companies in very specific industries聽where the university has talent and聽expertise, but that also will be the聽innovative industries of tomorrow聽that the community wants to scale听补苍诲 build as we look to diversify our聽region,鈥� says Panepinto, director of聽Innovation Districts Strategy. 鈥淭丑别聽other goal is to use the incubator to聽build community, an ecosystem. If you聽look at other communities鈥� growth,聽it鈥檚 been around clusters of private聽enterprise, entrepreneurs, government听补苍诲 universities working together to help聽scale the growth of these companies.鈥�

The incubation program adopted聽the Innovation Districts strategy three聽years ago as the program gradually grew聽from the first incubator site in Research聽Park to eight incubators across the聽region. Under the current leadership of聽Panepinto and Carol Ann Dykes Logue,聽director of Programs and Operations for聽the Innovation Districts and Incubation聽Program, the strategy has transformed聽the use of the Lake Nona Business聽Incubator that, in its opening year in聽2018, served clients of all industries.聽Now, it hand-selects early stage, scalable聽businesses in life sciences, healthcare听补苍诲 medical simulation 鈥� companies that can benefit from the specialized resources available in the burgeoning Medical City. It鈥檚 what Panepinto refers to as the 鈥渆cosystem,鈥� and it鈥檚 paid off: In fiscal year 2020鈥�21, incubator companies in Lake Nona employed 55 people and generated $2.9 million in revenue.

鈥淸We] focus our energy on technology companies in very specific industries where the university has talent and expertise.鈥�

The downtown Orlando incubator聽is the latest to join the roster of聽Innovation Districts being orchestrated聽by the Business Incubation Program. In聽addition to the Lake Nona Innovation聽District, the third is the Central Florida聽Research Park Innovation District聽that is home to the Research Park聽Incubator, which specializes in defense听补苍诲 military, modeling simulation,聽cybersecurity and similar companies,听补苍诲 the Photonics Incubator on the 激情快播聽main campus.

In addition to those four incubator聽sites, other business incubators are聽throughout the metro Orlando region听补苍诲 serve a variety of early stage聽companies that are positioned for聽growth. Those incubators are in Daytona聽Beach, Kissimmee, Winter Springs and聽in Orlando on East Colonial Drive, and聽serve Volusia, Osceola, Seminole and聽Orange counties, respectively.

鈥淚t鈥檚 all about driving more growth 鈥斅爄n downtown, and in and around these聽innovative clusters and entrepreneurs,鈥澛燩anepinto says.

Attract Top Talent聽鈥� from Near and Far

Mauricio Toro spent most of 2017鈥�18聽traveling around the United States. He聽visited Indiana, Massachusetts, New聽Jersey, California and Florida with one聽goal in mind: to find the best spot for聽a U.S.-based office and manufacturing聽facility for his company, Techfit Digital聽Surgery.

The Colombia-based company聽specializes in custom 3D-printed聽implants for reconstructive surgery.聽Its primary markets are Latin America,聽the Middle East and Europe. Now, the聽company has its sights set on expansion聽in the United States.

As Toro toured U.S. markets, a聽couple of objectives were critical: easy聽travel to and from Colombia and other聽international markets, and space to聽eventually build a manufacturing聽facility.

He found all of that in Central Florida,聽but what sealed the deal was the Business聽Incubation Program鈥檚 Soft Landing聽Program. It does as the name implies 鈥斅爃elps out-of-market companies enter the聽Central Florida business landscape more聽gracefully and purposefully than they聽might on their own. The program has聽drawn six out-of-market companies to聽the region since late 2020 alone.

Techfit Digital Surgery became a聽client of the Soft Landing Program at聽the Volusia County Business Incubator聽in August 2018. Since then, Toro and聽his team have received invaluable聽coaching from incubator advisors on聽the healthcare and insurance systems聽in the U.S. They鈥檝e also been introduced聽to local financial advisors and attorneys,听补苍诲 they鈥檝e been invited to all the right聽networking events.

鈥淚t鈥檚 saved us a lot of resources, energy听补苍诲 the mistakes we might have made聽if we tried to figure it out ourselves,鈥澛爏ays Toro.

In a few short years, Techfit鈥檚 Central聽Florida operation has grown from聽a single employee to six, has built a聽manufacturing facility, and has secured聽U.S. Food and Drug Administration聽approval for its product to be used in聽mandible and maxilla facial surgeries.聽Next, it鈥檚 working on securing FDA聽approval for use in cranial and thoracic聽surgeries.

鈥淲hat we expected when we decided聽to come here and be part of the incubator聽program 鈥� reality has surpassed even聽our most ambitious expectations,鈥� says聽Toro. 鈥淚t鈥檚 a no-brainer to be part of this聽program if you want a presence here [in聽Central Florida].鈥�

鈥淚t鈥檚 saved us a lot of resources, energy and the mistakes we might have made if we tried to figure it out ourselves.鈥�

Adapt, but Stay True聽to the Original Vision

In the two decades since its grand opening, the Business Incubation Program has evolved from a university resource to one for the entire region. But the original vision 鈥� bring ideas born at the university to life 鈥� still rings true.

At 25 years old, Joe Sleppy 鈥�18 is one of the youngest CEOs within the incubation program. His company, Capacitech Energy, uses a wire-shaped聽capacitor to add energy storage into聽products that otherwise wouldn鈥檛聽store energy. Think of batteries or聽supercapacitors and their clunky shape.聽Convert that same level of energy into a聽wire shape, and its applicability expands.

Sleppy learned of this invention while聽working as an undergraduate researcher聽in NanoScience Technology Center聽Professor Jayan Thomas鈥� lab.

鈥淚 remember asking, 鈥榃hat do we do聽now鈥�? Dr. Thomas said it had always聽been his dream to sell it to industry,鈥� says聽Sleppy, an electrical engineering alum.

That dream became Sleppy鈥檚 mission.聽Thanks to mentoring from Thomas, he聽learned about tech transfer, the role a聽business plays in the commercialization聽process, and how the goal is for 谤别蝉别补谤肠丑听辫谤辞箩别肠迟蝉 to eventually be used in the聽market.

In 2016, Sleppy entered Capacitech聽Energy into 激情快播鈥檚 Joust New Venture聽Competition within the College of聽Business鈥� Center for Entrepreneurial聽Leadership. The competition is聽like Shark Tank, and pits student聽entrepreneurs against each other as聽they vie for thousands of dollars in cash听补苍诲 essential business services. Sleppy聽won and used his earnings to license the聽intellectual property of the invention.聽He also met people there who would later聽become investors in Capacitech Energy.

Within a year Capacitech Energy聽became a client of the incubation聽program, leasing 80 square feet of office聽space in the Research Park location.聽There he鈥檚 been connected with聽lawyers and accountants, and he has聽received personalized coaching on tech聽commercialization, sales, management听补苍诲 how to write grant proposals. The聽coaching proved fruitful: Within a聽couple of years of being an incubator聽client, Capacitech Energy secured over聽$1 million in funding through grants and聽investors.

鈥淸When you鈥檙e part of the incubator], you enter a circle of trust that helps you raise capital.鈥�

鈥淸When you鈥檙e part of the incubator],聽you enter a circle of trust that helps you聽raise capital,鈥� Sleppy says. 鈥淲e had an聽investor come visit us and say, 鈥榃ow, how聽beautiful is this area?鈥� My neighbors are聽Raytheon and Luminar; that鈥檚 a big deal.聽I don鈥檛 think people realize the benefit聽of the optics of being part of a Research聽Park like this. It instills confidence in the聽people who come visit us.鈥�

Sleppy is now leasing 150 square聽feet in the Research Park Incubator for聽Capacitech Energy, which has grown聽to three full-time employees 鈥� all 激情快播聽alums. The company has its sights set on聽expansion this year, including building聽a manufacturing facility and growing聽clientele.

What’s Next

Much like Sleppy鈥檚 story, O鈥橬eal knew聽back in 1999 that it takes a collective聽effort to raise impactful companies.

鈥淧eople really couldn鈥檛 even spell聽鈥榚ntrepreneur鈥� back then,鈥� O鈥橬eal says聽with a laugh. But not long after 鈥� and聽still today 鈥� everyone wants a piece of聽the incubation program.

As they look ahead to the next 20聽years, Panepinto and Logue envision an聽even stronger presence of the Innovation聽Districts 鈥� perhaps to even build new聽ones.

鈥淲e don鈥檛 have a physical incubator聽on the Space Coast, but as the university聽continues to focus more and more on our聽activities in the space industry, and that聽sector continues to grow, it鈥檚 part of our聽long-term vision to have an incubator聽over there,鈥� says Logue.

They also will look to the hospitality聽sector for opportunities to help foster聽innovation.

鈥淭丑别 travel, tourism and hospitality聽sector is ripe for accelerated technology聽innovation,鈥� Logue says. 鈥淚t鈥檚 one of our聽key industry sectors where we need聽to raise the wages and help make that聽industry more efficient.鈥�

Panepinto and Logue recognize that in聽the increasingly digital economy, though,聽their help may not always happen in a聽brick-and-mortar space. Even before聽the COVID-19 pandemic, the Business聽Incubation Program was serving聽companies virtually, and it will continue聽to do so.

鈥淚t鈥檚 in the DNA of 激情快播 to look out into the community and ask, 鈥楬ow can we support you?鈥� Other universities had to evolve to figure out how to do that because that wasn鈥檛 always their mission.鈥�

鈥淲hen we started this evolution three聽years ago at our Innovation Districts and聽Regional Growth centers, the importance聽of office space and the concept of the聽incubation system being about physical聽space was de-emphasized,鈥� Panepinto聽says. 鈥淧art of our shift in strategy was聽to support those companies [that work聽remotely] and to realize that we could.鈥�

Panepinto and Logue also plan to聽more strongly collaborate with faculty聽to help create spinoff companies from聽their innovations. They also plan to work聽with women-owned businesses that聽have potential to fill a need of the federal聽government.

Thanks to a grant secured in 2021 by聽the Florida High Tech Corridor Council,聽of which the incubation program is a聽member, funds are allocated to help聽position local women-owned businesses聽for success in the federal Small Business聽Innovation Research (SBIR) and the聽Small Business Technology Transfer聽(STTR) programs. Through competitive聽application processes, selected small聽U.S. businesses can receive a portion聽of federal research and development聽dollars through these programs to scale聽up their product or service if it meets聽a need of a federal agency. An example聽is Rini Technologies, which has won聽numerous SBIR and STTR awards for its聽products to provide a solution to military聽members.

鈥淲e鈥檝e had a significant number of聽clients that have built their success using聽SBIR and STTR. What this opportunity聽brings is additional bandwidth for us to聽support women-owned tech companies聽that could be incubator clients and聽who haven鈥檛 gone after a SBIR or STTR聽before,鈥� Logue says. 鈥淲e鈥檒l provide them聽with additional coaching and education,听补苍诲 they can benefit from the insights of聽our previous winners.鈥�

As Panepinto and Logue lay the聽foundation for the next generation of the聽Business Incubation Program, they are聽grateful one thing has stayed the same聽鈥� unwavering support from university聽leadership and local government聽partners.

鈥淓fforts to diversify the economy are a聽generational effort, and we鈥檙e fortunate聽that our governments recognize that,鈥澛燩anepinto says.

鈥淚t鈥檚 in the DNA of 激情快播 to look out聽into the community and ask, 鈥楬ow can聽we support you?鈥� Other universities聽had to evolve to figure out how to do聽that because that wasn鈥檛 always their聽mission,鈥� Logue says. 鈥淏ut for us, it鈥檚 how聽激情快播 was founded.鈥�