ORGANIZATIONS THAT CAN HELP WITH FINDING ACCESS TO CAPITAL

Small Business Administration

ABOUT:

The Small Business Administration (SBA) is a United States government agency that provides support to entrepreneurs and small businesses. The mission of the Small Business Administration is “to maintain and strengthen the nation’s economy by enabling the establishment and viability of small businesses and by assisting in the economic recovery of communities after disasters”. The agency’s activities are summarized as the “3 Cs” of capital, contracts and counseling.

ENTREPRENEUR SUPPORT:

SBA has at least one office in each U.S. state. In addition, the agency provides grants to support counseling partners, including approximately 900 Small Business Development Centers (often located at colleges and universities), 110 Women’s Business Centers, and SCORE, a volunteer mentor corps of retired and experienced business leaders with approximately 350 chapters. These counseling services provide services to over 1 million entrepreneurs and small business owners annually.

SUCCESS STORY:

Diana Pierre-Louis  knew she wanted to expand her successful blog into a full-blown social media and marketing company, and thanks to the services and support of the Florida SBDC, she was able to achieve her goal of working full-time in a business she is passionate about and that could sustain her financially. Thus, Empower Your Brand, a full-service marketing and branding company, was born.

“While I was employed at Palm Beach State College, I had the pleasure of hearing how the SBDC counselors helped entrepreneurs start and grow their businesses; and I knew they were the best organization for me.They helped me identify areas I was not aware of and set-up strategies to help me expand my on-line presence and photographic skills,” said Diana Pierre-Louis.

 

CONTACT INFORMATION:

Lonnie Koyama – [email protected]
772.466.3176
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Nexus

ABOUT:

ABOUT: NEXUS brings together strategic investors, dynamic entrepreneurs, and key leaders in local communities to expand the innovation economy. The organization was established to increase the number of deserving Florida companies successfully raising the necessary capital to scale, increase their headcount, and fulfill their corporate objectives. NEXUS Members have invested in 67 Florida companies over $20.1M. The NEXUS membership of individuals, family offices, investment funds, and corporate partners streamlines the funding process for Florida entrepreneurs. Florida companies now can gain access to a growing community of informed investors who can enhance their businesses through strategic and passive capital investments.

 

ENTREPRENEUR SERVICES:

Entrepreneurs scaling companies in Florida can access the NEXUS community of 70+ investors by applying for funding at poweredbyNEXUS.com. The Entrepreneur Guide and
Investor Guide provide insights into preparing to raise capital and the investor mindset. Venture teams can enroll in the NEXUS Advantage program for coaching from the NEXUS team and investors on their funding strategy, financials, and pitch. Once an entrepreneur applies, they will receive questions and feedback from the NEXUS Analyst team. Select companies will be chosen to present to active investors on the Weekly Wednesday Webinar and potentially at our live pitch events around the state.

 

SUCCESS STORY:

Veteran Affairs (VA) granted $5M for research at Florida State University’s (FSU) High-Performance Materials Institute with the purpose of identifying a superior padding for amputee veterans’ prosthetics. FSU successfully patented the proprietary process and Joe Condon, who lives in rural Keystone Heights, FL, licensed the patents from FSU and filed for additional patents to protect this disruptive manufacturing process. Condon and the Auxadyne team was able to raise $390,000 in private investment at three NEXUS events around the state in less than a month. The VA’s research is now on its way to solving a critical need for wounded veterans, active military, and athletes. In the six months after raising the funding, Auxadyne has moved out of Condon’s garage and into a state-of-the art advanced manufacturing facility, hiring 6 full-time professionals and 6 engineering students.

CONTACT INFORMATION:

Blaire Martin – [email protected]
386.530.3714

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Florida Venture Forum

ABOUT:

The Florida Venture Forum is the preeminent statewide, member based, private equity, venture capital and angel capital organization in Florida.

CONTACT INFORMATION:

707 W. Azeele Street, Tampa, FL 33606

813-335-8116

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GDBC Entrepreneurship Institute

ABOUT:

GBDC Entrepreneurship Institute is a 501c 3 organization specializing in services for Small Businesses, Entrepreneurs, Non Profits and the Public Sectors.

CONTACT INFORMATION:

3200 S Congress Ave #104, Boynton Beach FL 33426

561-894-4510

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City of Boynton Beach

ABOUT:

The City of Boynton Beach aims to create a business-friendly, innovative environment where entrepreneurs can not only establish themselves but flourish. To help generate this environment, it offers two Economic Development Grants that aim to help the establishment of new businesses and aide in the expansion of existing businesses. The Commercial Rent Reimbursement and Interior Build-Out Grant Programs are designed to provide financial assistance to business during their critical first year or expansion year of operation. The city also created a Local Business Preference ordinance establishing a local business preference of 5% in the acquisition of goods and services. A sealed bid or proposal submitted by a certified local firm that is located within the City of Boynton Beach will receive a 5% or $5000, whichever is less, bid evaluation preference. For informal purchases, City departments and staff are strongly encouraged to utilize local businesses if they otherwise meet purchasing policy requirements.

SUCCESS STORY:

Non-Prophet Brewing Co. opened in the City in 2017 and offers a twist on brewing in the form of fermented sweat tea with multiple flavors called kombucha. This is a new and untapped market in the City and in the South Florida region where Non-Prophet has been selling wholesale throughout Miami-Dade, Broward, and Palm Beach Counties. You can find Non-Prophet Brewing products in over 60 establishments throughout the tri-counties, but their home-base is in Boynton Beach. The products are brewed and manufactured at its Boynton Beach location in the heart of the brewery district. To assist Non-Prophet in expanding its business, the City Commission awarded them two economic development grants totaling $27,000. They received both Commercial Interior Bold-out and Rent Reimbursement Grants that help Non-Prophet in its critical first year of operations in the City. These grants also allowed Non-Prophet to hire new employees to expand its operations into a sit-down environment for tastings. The City is thrilled to have a successful business settle in Boynton Beach where the product market is growing exponentially every year.

 

CONTACT INFORMATION:

100 E. Boynton Beach Boulevard, Boynton Beach, FL 33435

561-742-6000

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Florida Institute for the Commercialization of Public Research

ABOUT:

The Institute provides hands-on support services for high growth-potential companies. Additionally, through its subsidiary Florida Technology Seed Capital Fund, the Institute provides up to $500,000 in first and follow-on round funding to qualified companies.

CONTACT INFORMATION:

3651 FAU Blvd., Suite 400, Boca Raton, FL 33431

561-368-8889

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Small Business Development Center

ABOUT:

The Florida Small Business Development Center (SBDC) at Florida Atlantic University is part of a statewide network that provides tools, training and resources to help small businesses grow and succeed. As the only statewide provider of entrepreneurial and business development services, the Florida SBDC plays a vital role in Florida’s economic development by assisting entrepreneurs in every stage of the business life cycle.

 

SERVICES:

In addition to the FSBDC’s core service offerings of no-cost consulting, training, and business research, the Florida SBDC also provides a comprehensive toolkit of specialized services for qualifying businesses looking to accelerate market growth, including Growth Acceleration, International Trade, Government Contracting, and Business Continuation. The Florida SBDC Network is funded in part by the U.S. Small Business Administration (SBA), Defense Logistics Agency, State of Florida and other private and public partners, and is nationally accredited by the Association of SBDCs. Since 1976, FSBDCs have assisted hundreds of thousands of emerging and growing businesses by providing the professional expertise, tools, and information necessary to make sound business decisions in a complex and ever-changing marketplace.

 

SUCCESS STORY:

Fenton Baijnath, CEO of Radical Cosmetics, relocated his business to Lake Worth in 2010.  Florida SBDC at Palm Beach State College helped him expand his operations internationally by introducing him to their Export Marketing Plan (EMP) Services. By analyzing trade statistics, industry reports, and conducting market research, an EMP was created to help identify the best markets for Fenton’s cosmetics. After reviewing the EMP, Fenton took advantage of a Gold Key Service grant available from Enterprise Florida and, along with the U.S. Commercial Service, he traveled on a trade mission to the Dominican Republic, a country identified as having high potential. Fenton met with pre-screened distributors interested in purchasing cosmetics and left with a $110,000 sale and interest in future orders.

More success stories can be found at www.floridasbdc.org/success-stories/.

 

CONTACT INFORMATION:

Florida SBDC at Florida Atlantic University Division of Research

901 N.W. 35th St., FAU Tech Runway, Boca Raton, FL 33431

561-297-4229

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FAU Tech Runway

ABOUT:

FAU Tech Runway is a South Florida public-private partnership that serves as a hub to accelerate technology development and incubate startup companies. This incubation and acceleration happens in a 28,000-square-foot collaborative working space that provides entrepreneurs with a complete ecosystem to house, educate, mentor and fund their companies from origination through venture funding. Since launching in 2014, FAU Tech Runway has helped entrepreneurs secure more than $46 million in investor funding and generate $23 million in revenue. More than 52 companies have launched at FAU Tech Runway, creating more than 300 new jobs with an average salary of $63,000. FAU Tech Runway provides startups with free working space, expert mentoring, interns, marketing assistance, Stanford’s Lean LaunchPad curriculum, privileged access to angel and investor networks and regional events, and $15,000 awarded to the top seven startup companies.

STUDENT SUCCESS STORY:

FAU Tech Runway student entrepreneur Devin Willis has developed a way to improve the speed and accuracy of cancer diagnoses. Willis’s invention, SlideMap, is a low-cost 40x slide scanner that uses recent advances in deep learning for image recognition, technology that can be found in driverless cars. SlideMap can accurately classify every cell on a tumor slide, which can help a pathologist provide a more accurate diagnosis. Willis placed fourth in the national 2017 Discovery Education 3M Young Scientist Challenge, where he won $1,000 and attended a taping of a Discovery Network show. As a part of the FAU Tech Runway Venture Class 5 Program to accelerate startups, SlideMap is benefitting from top-notch mentors who could prove instrumental in bringing the product to market. For cancer patients, that can’t come soon enough.

SUCCESS STORY:

No FAU Tech Runway company has sky rocketed to success more quickly than EagleEye Intelligence, a game-changer in technology-driven public safety. The company is the brainchild of serial entrepreneur and FAU alum Scott Adams, who was one of the first entrepreneurs directly affiliated with FAU Tech Runway. “I needed infrastructure and space, and it was very helpful to be close and involved in some of the early decisions as they unfolded while Tech Runway formed,” Adams said of his decision to launch EagleEye Intelligence there. In two years, EagleEye has raised $14 million in venture capital and grown from two employees – Adams and co-founder Rex Ciavola – to 31. The company provides critical incident management solutions for public safety and security.

 

CONTACT INFORMATION:

901 NW 35th Street, Boca Raton, FL 33431

561-297-8000

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Paragon

ABOUT:

 Paragon Florida, Inc. is a nonprofit financing entity supporting communities underserved by traditional financing entities and ensure a more balanced and representative playing field in Palm Beach County and the emerging biotech sector for Black-owned businesses.

CONTACT INFORMATION:

400 Hibiscus Street, Suite 200, West Palm Beach, FL 33401

561-282-1867

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