With support from Knight Foundation, the Florida Institute for the Commercialization of Public Research is offering an event series for seasoned and novice angel investors, with a focus on new companies based on technologies developed at local universities.

I grew up in Massachusetts and began my career in the software industry along the high-tech corridor of Route 128. With so many local companies having spun out of technologies developed at MIT, I imagined that other innovation economies were developing in much the same way. The concept of marrying technology with management and capital was powerful, and I’d seen firsthand how seeding innovation early on yielded tremendous results in the form of world-class companies and products, job and wealth creation, talent recruitment and retention, and overall economic development.

When I moved to South Florida in 2000, I was struck by the fact that the number of university spin-outs did not reflect the volume of research being conducted across major life science and technology sectors. Think Gatorade; originally developed by a professor at the University of Florida to solve the problem of dehydration on the football field, the technology was licensed to a large corporation outside of Florida for further development and distribution, and ultimately, market domination.

In 2007, state Sen. Jeremy Ring (District 29), a former Yahoo executive with a vision to change the Florida landscape, sponsored a bill to create the Florida Institute for the Commercialization of Public Research (the Florida Institute). The goal was to leverage Florida’s $2 billion research base to create new companies and jobs, launch innovative products, and keep technology and talent here. The institute’s programs help startups bridge the dreaded “Valley of Death” where, without early investment, so many of them wither and die. Too young and without collateral to qualify for traditional financing, companies that hold the greatest promise for sustainable growth are often lured away by out-of-state investors.  

Today, many high-net-worth individuals are seeking investment returns that are beyond purely financial. Having achieved monetary success, they are looking for ways to “give back” in meaningful ways, perhaps contributing to the development of a cure for the disease that afflicted a loved one, or a new source of clean energy to help preserve the environment. Yet despite the tremendous wealth in South Florida, there is still a critical shortage of capital for startup companies.

Through the support of Knight Foundation, this event series, beginning on April 17, will help to connect the dots between individuals seeking to deploy some of their financial assets in a meaningful way and the promising young companies who hold the keys to Florida’s future. It will feature new startup companies as well as successful entrepreneurs, covering topics such as investment trends in the life sciences or mobile technology, or broader educational topics such as best practices to expedite the funding process. The series will connect Miami to a broader statewide conversation about angel investing and the formation of a statewide angel network that will connect entrepreneurs with investors regardless of their location, with the next event planned for July. This series will serve as a catalyst for increased angel investment activity, utilizing the power and promise of angel investing to secure Florida’s future.

For more information on the event series, contact the Florida Institute at [email protected].