Palm Beach Tech AssociationPalm Beach Tech Association

Startups at Research Park at Florida Atlantic University Attract Venture Capital

on February 15, 2016 / by Julia Tambovsky ,


Startups at Research Park at Florida Atlantic University attract venture capital 2015 was the best year for funding in the Research Park’s history

BOCA RATON, FL —Venture capital investments were up in 2015 due in part to the coast to coast expansion of startups in the entrepreneurial ecosystem, reported the National Venture Capital Association (NVCA). Venture capital investors deployed capital to 3,662 companies located in 133 Metropolitan Statistical Areas (MSA) in 2015, according to the MoneyTree™ Report by PricewaterhouseCoopers LLP (PwC) and NVCA, based on data from Thomson Reuters.

South Florida companies received a total of $301 million investment capital in 2015, with companies in the Research Park at Florida Atlantic University and its Technology Business Incubator (TBI) receiving $53.5 million, an increase of 8.4% over 2014, and representing 17.77% of total dollars raised within the three county MSA. These investments resulted in more than $53.5 million flowing into the local economy. (Miami-Fort Lauderdale-West Palm Beach ranked #21 out of 381 MSAs.)

“A majority of the companies located in the Research Park (52.5%) operate in the biotechnology, healthcare and healthcare IT industries,” said Andrew Duffell, President & CEO of the Research Park. “These companies are attracting investors that see benefits of funding innovation.”

“Contrary to popular belief, you don’t have to be an entrepreneur living in San Francisco, New York or Boston to receive venture capital funding,” said Bobby Franklin, President & CEO of NVCA. “There are pockets of innovation all across the United States, and as long as you have a groundbreaking idea with high-growth potential, you are well positioned to attract venture capital funding to help grow your business. As more cities, states and municipalities dedicate greater resources to foster the growth of their local ecosystems, venture investors are taking notice and deploying capital across much larger areas of the country.  This not only helps the entrepreneurs themselves but local economies as well through job creation and sustained economic growth.”

About the Research Park at Florida Atlantic University
Established in 1985, the 94-acre Research Park is home to 19 technology companies working in conjunction with the FAU College of Engineering and Computer Science, the FAU Charles E. Schmidt College of Medicine and the FAU College of Business.  The Research Park hosts the Technology Business Incubator® (TBI) with 19 startup technology companies, each of which receives business and consulting services with the goal of becoming established businesses and permanent residents in the Research Park. With locations in Boca Raton and Deerfield Beach, the Research Park is widely regarded as South Florida’s laboratory for new entrepreneurial ideas and technologies.(www.research-park.org)

###

Startups at Research Park at Florida Atlantic University Attract Venture Capital