Tampa Bay Wave


Tampa, FL

Project Name

Tampa Bay Innovation Seed Fund

Award Amount

Federal Share: $396,000
Local Match: $397,000

This EDA investment aims to address the region’s persistent early-stage capital gaps and help Tampa Bay build a more diversified and resilient regional economy with greater startup density and high-wage job creation.

Tampa Bay Wave (WAVE) has partnered with the University of South Florida, and other private and public sector entities, to form and launch a new $10 million seed fund that will attract 80 investors and invest in 25-30 new high-growth startups – primarily within the region’s industry-driven innovation clusters of cybersecurity, finance, and healthcare. The project will leverage WAVE’s accelerator alumni for deal flow – not to mention WAVE’s 150+ mentor, 500+ investor networks, and SBIR/STTR resources –  to provide support to companies seeking funding and ongoing mentorship after securing investment. The Tampa Bay Innovation Seed Fund also seeks to expand investor outreach via WAVE’s new podcast, online investor portal, and various investor-related events.

WAVE has a long history of supporting diversity and equity, and 50 percent or more of the Tampa Bay Innovation Seed Fund will be invested in startups led by veterans, women, minorities, and other underrepresented entrepreneurs.