Wednesday, March 21, 2012

TRDA's Igniting Innovation Capital Acceleration Program Assists Florida Tech Companies Raise Venture Capital

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Application Deadline: April 2, 2012

Are You a Florida Tech Company Looking to Raise Venture Capital?

How Can the Igniting Innovation (i2) Capital Acceleration Program Help You Succeed?

The Igniting Innovation (i2) Capital Acceleration Program, is offered by the Technological Research and Development Authority (TRDA) with support from Space Florida.

It consists of three months of intense mentoring that kicks off with a one-day boot camp, and culminates with a day of presentations to a panel of investors that will provide honest feedback on your business. The i2 Mentor Network is a statewide network of "been there, done that" technology entrepreneurs that have founded and raised capital for their own companies. Our mentors have collectively raised over $300 million for their own companies, and will work with you to prepare your company (team, financial statements, business plan, sales/marketing strategy and much more) for the capital raising process. The i2 team has a network of angels, venture capitalists and pre-seed funding resources within our i2 Ventures Network to accelerate the connection of great companies to Florida's investment community.

Two mentoring sessions will be held in 2012 -- one began in January and the next session begins in April 2012. The most promising companies from each i2 Accelerator session will be invited to participate in the annual Igniting Innovation Showcase, which will be held in September 2012. The i2 showcase attracts investors, mentors and industry partners from all over the country, and has a $100,000 grant award for the most promising presenting company. The winning company will be selected by attending venture capitalists based on revenue growth potential within five years and the ability to create a return for investors.

What are the Benefits of Participating in the i2 Program?

  • Fast Track selection opportunity for i2 Showcase and the $100,000 grant competition
  • Immediate, honest feedback on your business plan, and its potential attractiveness to angels, venture capitalists or other sources of capital
  • Accelerated path to the i2 Ventures Network (angels, venture capital firms, gap funding sources)
  • Ongoing access to a deep, statewide network of experienced "been there, done that" mentors that have walked in your shoes and raised capital for their own companies
  • Quick-drop education on best practices for business plan development, financial modeling, market strategies and closing your first customers
  • Access to a statewide network of critical business service providers at reduced rates
  • Usage of the TRDA Innovation Center for workspace, meetings and classrooms

What are the Criteria to Participate in the i2 Program?

Florida-based technology companies with the following criteria are eligible for the i2 Accelerator:

  • Headquartered in Florida with at least 80% of employees also in Florida
  • Potential for rapid revenue growth within five years
  • Relevant technical expertise on team for product strategy
  • In one of the following sectors -- Internet/Media/Mobile Apps, Cleantech, Biotech/Medical Devices, Gaming/Simulation, Defense/Aerospace, Software/IT and telecommunications.

What is the Cost to Participate?

There is no cost to apply to the i2 Accelerator program. If your company is selected to participate, there is a $750 fee to participate in the three month session (payable in monthly increments of $250). This fee includes the kickoff boot camp, all mentoring sessions, and access to the TRDA facilities for workspace and meetings, and participation in the final investor presentation day. We also will provide three months of limited post-session support (maximum of five hours/month) for i2 Accelerator graduate companies that have met stated growth milestones are are ready to actively pursue capital. There are no additional costs for post session investor introductions for companies that are ready to meet with investors, nor is there a fee to participate in the i2 Annual Showcase if your company is selected to present.

How Do I Apply?

Simply fill out the online application located at

If you are selected for the April 2012 session, a mandatory one-day kickoff boot camp will be held at the TRDA Business Innovation Center in Melbourne, Florida on April 12, 2012. Applications for the April session are due by April 2nd, 2012 and selections will be announced no later than April 6, 2012.


Contact Brenda McMillan at or (321) 872-1050 ext. 103.

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