Press Release

Space Florida to Award $100,000 to I2 Capital Acceleration Showcase Participant

By SpaceRef Editor
May 9, 2011
Filed under ,

Space Florida today announced that it plans to award $100,000 to a selected company from those presenting at the I2 Capital Acceleration Showcase (www.i2Florida.com) on September 7, 2011 in Cape Canaveral.

I2 stands for “Igniting Innovation,” and is an initiative focused on assisting high – potential, Florida – based private companies in the development of their businesses and capital raising efforts. Small to medium sized companies in the state’s key industry clusters of Aerospace, Aviation, Biotech, Life Science, Clean Tech, Alternative Energy, Defense, Homeland Security, Information Technology and Telecommunications are eligible to participate. The I2 initiative is funded under a U.S. Department of Commerce financial assistance award to Space Florida and was competitively awarded to the Technological Research and Development Authority (TRDA).

The I2 Capital Acceleration Showcase will cap a multi – month effort by TRDA and Space Florida to provide some of Florida’s most promising businesses with the resources, network and learning opportunities needed to accelerate their success.

“Space Florida and TRDA are jointly collaborating to provide participating companies with access to industry expertise, customer contacts, qualified investors and experienced technology startup executives that understand what it takes to raise investment capital in Florida”, said Frank DiBello, Space Florida President and CEO. “The inclusion of a $100,000 award allows the I2 Program to pair up a meaningful capital infusion with the program’s superb business guidance.”

The I2 Showcase will feature business presentations from up to 12 growth – oriented companies that are seeking investment capital. The business presentations will be made to a targeted audience of venture capitalists, investment bankers, angel investors and business development executives seeking investment and strategic partnering opportunities in the targeted clusters. Up to 12 additional companies will be selected to participate in the Showcase exhibition hall alongside the presenting companies.

I2 participating companies will have demonstrated: a strong market need, a unique value to the marketplace, investment readiness, potential for superior return on investment, a sound business model and a quality team. The awardee of Space Florida’s $100,000 investment will also be selected based on these factors.

“In the months leading up to the I2 Showcase, TRDA will provide participating companies with intensive mentoring to help them to prepare and refine their business plans and to optimize their investor presentations”, said Chester J. Straub, Jr. Executive Director of TRDA. TRDA will also provide participants with access to a robust network of subject matter experts, investors, experienced executives, and service providers to mentor companies and to assist them in the growth of their companies.

In addition I2 Program assistance will include company participation in the two – day FastTrac® NewVentureTM Program boot camp on June 7 and 8, 2011. Developed by the Ewing Marion Kauffman Foundation of Kansas City, FastTrac is a practical, hands – on business development program to help entrepreneurs hone the skills needed to understand the business behind their technology and to create, manage, fund and grow successful technology or life sciences – based businesses.

Companies interested in presenting at the Showcase must go to www.i2Florida.com to submit an online application and Executive Summary to TRDA. The deadline for submission is 5:00 p.m. EST, Monday, May 16, 2011.

Materials submitted by potential presenters will be evaluated by the I2 Qualifications Review Board that is comprised of venture capitalists, strategic investors, and cluster industry experts and executives.

For questions about the Showcase email Chester Straub, TRDA Executive Director at cstraub@trda.org, or Dave Kershaw, TRDA Deputy Director at dkershaw@trda.org, or call 321 – 872 – 1050. For additional information about the I2 Capital Acceleration Showcase, visit the website at www.i2Florida.com.

#

About Space Florida: Space Florida was created to strengthen Florida’s position as the global leader in aerospace research, investment, exploration and commerce. As Florida’s aerospace development organization, we are committed to attracting and expanding the next generation of space industry businesses. With its highly trained workforce, proven infrastructure and unparalleled record of achievement, Florida is the ideal location for aerospace businesses to thrive – and Space Florida is the perfect partner to help them succeed. www.spaceflorida.gov

About TRDA: Launched in 1987, the TRDA is a technology – based economic development organization with a focus on the incubation of new businesses, the acceleration of the growth of existing firms, and the commercialization of innovative technologies. For more information, visit www.trda.org.

SpaceRef staff editor.