|Program||# of Grants||EDA Funds|
|Economic Adjustment Assistance||6||$2,560,257|
EDA awarded 12 grants in the state of Florida totaling $5 million. These grants include a mix of planning, construction and networking assistance that support the growth of energy and high-technology industry clusters. These investments are expected to create or retain 1,800 jobs according to grantee estimates.
Investment Spotlight: EDA’s Investment Accelerates Entrepreneurship in Tampa
Burdened with high unemployment, Florida’s Tampa Bay Region needed to jumpstart its economy. The region’s entrepreneurs faced the three-fold challenge of limited availability and access to early stage capital, a small pool of experienced tech executives, and difficulty attracting top talent to early-stage ventures. While the region possessed a complex network of universities, small business support centers, and other resources, these assets were not cohesively working together to accelerate innovation and entrepreneurship in West Central Florida.
A collaborative regional partnership—Tampa Bay FirstWaVE Venture Center— that includes the University of South Florida, Tampa BayWaVE, the Tampa Bay Technology Forum, the City of Tampa, Hillsborough County, and the University of Tampa will serve as a critical catalyst to innovation-based economic development in the region. A winner of EDA’s FY 2012 i6 Challenge, FirstWaVE will connect existing regional entrepreneurship resources, mentors, capital, and industry expertise into a highly cohesive innovation ecosystem. EDA’s $1 million i6 award supports FirstWaVE’s 5-year Build-Launch-Grow accelerator framework which helps start-up companies secure the early-stage angel funding necessary to develop into viable tech companies. Building upon best practices of nationally recognized incubators, entrepreneurship centers, and accelerators, FirstWaVE seeks to create a model that can be replicated throughout Florida.