The Path to an Innovative Florida Dr. Thomas O’Neal

1. The Path to an Innovative FloridaDr. Thomas O’Neal

2. Why have this conversation? Is something broken? Is our quality of life good enough? Is this our home or a great place to live?

3. What do we want to be? • Are we broke like Austin was? • Two years ago, the Sentinel unveiled a stark statistic: Central Florida had the lowest median wage of any major metro in America. • Lower than Detroit, Milwaukee, you name it. • Central Florida is the only community in America where the majority of jobs — yes, the majority — paid less than $30,000 a year, nearly 40 percent paid less than $25,000. • Perhaps even more striking, according to the stats from Sentinel: We're also No. 1 for jobs that pay $20,000 — with 25 percent of our jobs paying $20,220 or less.

4. Incentives for the Innovation Economy • Supporting Innovation: • Intelligent Incentives • Attracts Corporations • Corporate Relocation • Expanded Economy • Creates and Retains an InnovativeWorkforce • Revenue and Job Creation • Enhanced QualityofLife • Return on Investment

5. Why Create an Innovation-Based Economy? • Regionally-Based for Local Job Creation, Revenue, and Wealth • Organically Grown • Decreased Dependence on External Resources • Leverage the Region’s Resources • Community Collaborations • Innovative Ecosystems Have: • 125% Higher Employment Growth • 58% Higher Wage Growth • 109% Higher Productivity http://www.icoast.com/main/florida-innovation-highlights/ Real job growth is created organically through entrepreneurs and rare businessleaders.” – Jim Clifton, The Coming Jobs War

6. Courtesy Jack Sullivan, Florida Research Consortium -

7. Good news for Florida’s Economy? • Florida’s CompTIA Cyberstates Innovation Score - http://www.cyberstates.org/ • Ranked 2nd in the U.S. in 2017 • Up from 23rd in 2016 • 4th in the U.S. and D.C. in Net Tech Employment • Added 12,020 Technology-Related Jobs • 64.5% increase in posted Emerging Technology Jobs • Kauffman Foundation Index of Startup Activity: State Trends - https://www.kauffman.org/kauffman-index/reporting/startup-activity • Florida Ranked 3rd in Startup Activity Among the 25 Largest States • Forbes Ranked Five Florida Cities in the Ten Best Cities for Job Growth - https://www.forbes.com/sites/kurtbadenhausen/2016/10/19/the-10-best-cities-for-future-job-growth/#5e1be9b41141 • Cape Coral (1st); Orlando (3rd); Naples (4th); Deltona (7th); Ocala (9th)

8. News on Florida’s innovation Economy

9. Florida Research University Comparison to Top-Rated States Florida has smallest number of Research Universities Compared to Other High-Performing States For Geographically Similar States (e.g., California and Texas), Florida has 65% less Research Universities than California, and 41% less Research Universities than Texas. Florida has a higher number of Research Universities that have achieved the “R1: Doctoral Universities – Highest Research Activities” Ranking from the Carnegie Classification of Higher Education

10. Strategy for an Innovation Ecosystem

11. Innovation Ecosystem

12. Growing your own Economic Development Strategies The Entrepreneur is at the Center of the Blueprint Intellectual Capital Talent Pool Advocates and Champions Resource Providers and Support Financial Capital "An entrepreneur is someone who jumps off a cliff and builds a plane on the way down." -- Reid Hoffman

13. Leverage Creativity, Research, and Innovation Intellectual Capital is the Catalyst for an Innovative Ecosystem • Know Your Region’sResources • Academic • Industry • Government • Community Entrepreneurs "The value of an idea lies in the using of it."--Thomas Edison

14. Create and Educate Your Talent Pool • Know your Resources • Serial Entrepreneurs • Startup CEOs • Experienced Professionals • University Graduates • University Interns • Retired Professionals • Entrepreneurial Education • University Degrees • Professional Certificates • I-Corps • Accelerators and Incubators • Community Programs • Veteran and Minority Programs “No economy can succeed without a high-quality workforce, particularly in an age of globalization and technical change.” – Ben Bernanke

15. Network of Resource Providers and Support • Full EntrepreneurialSupportContinuum • Unified Goal • Resource Interconnectivity • Academic, Government, and Community Resources • Multiple Resources for Each Stage • Collaboration and Cooperation • Peer Education and Support • Diversified Programs • Simplified HandOffs • Ongoing Growth “Don’t build links. Build relationships.” — Moz Rand Fishkin

16. Develop a Financial Capital Foundation • From Ideation to Second-Stage • Seed Funds • SBIR/STTR and Matching Grants • Angel Investors • Venture Capitalists/Private Investors • Small Business Loans • Joint Commercialization Agreements • Public Investments • Acquisitions “Traction is what separates a viable business from a really good idea. It’s what shows that your business can grow and sustain itself. It’s a way to show that a dollar invested into your business will always result in three dollars of revenue.” ―Mike Belsito

17. Advocates and Champions • Ecosystem Development Leadership • Policy and Regulation Advocacy • Relationship Building • Collaboration and Education • Coaching and Mentoring • Licensing Assistance • IndustryCluster Support • Research and Innovation Advocacy • Regional Economic Support • Program Development “A leader is one who knows the way, goes the way and shows the way.” —John C. Maxwell

18. How can Central Florida Move the Needle? Grow and nurture our own Creating the CriticalMass of New & Expanding Ventures Innovation and EntrepreneurialPrograms Discovery and Invention Accelerators Business Incubators Angel and Venture Capital Groups The National Entrepreneur Center "You just have to pay attention to what people need and what has not been done."-- RussellSimmons

19. Capital • 3rd Most Populated State • Less than 1% of Total Venture Capital • Unevenly Distributed Across Regions • Ranked 14th in Nation • Large Investments • Minimal Seed Funding • Angel investing activity increasing Citylab.com

20. The National Entrepreneur Center Model Collaboration Between WaltDisneyWorld, OrangeCountyGovernment, and University of CentralFlorida --Among the First of Its Kind Nationwide • One-on-One Business CoachingLow-Cost Business SeminarsNetworking EventsOnsite Business LabAccess to Business ResourcesCertification Assistance for Minority/ Women-Owned BusinessesConnections to Procurement AssistancePublicity OpportunitiesCEO & Advisory Board ProgramsExport AssistanceTraining and Conference Room Rentals • 100,000+ businesses coached and trained$150,000,000+ in loans facilitated • 13 Support Organizations • 1 Location

21. Business IncubatorsFloridahas More than 70 Business Incubators University and Community-Based Formal, Long-Term Entrepreneurial Support Existing Business Model Shared Office and Equipment Resources Coaching, Mentoring, Seminars Critical Ecosystem and Professional Networks Access to Venture Capital Revenue and Job Creation Many have accelerator programs within them 84% of graduated businesses still operating after five years 93% are non-profit 32% sponsored by universities "It's easy to get caught up in the day-to-day hard work of running a business and completely forget that while solving problems and building something you can be proud of, you also have an incredible opportunity to shape the future.” – Colin Wright

22. Accelerators Increased numbers across the state Various levels of services ranging from co-working to entrepreneurship support programs and mentorship I-Corps program

23. Second-StageSuccess • Celebrates Second-Stage Success • Assists Hundreds of Companies Annually • Florida Companies to Watch – Celebrates 50 Companies Across Florida • Sales and Revenue Growth • Job Creation • Innovative Products • Creative Services • Regional Impact • Expansion "Strength and growth come only through continuous effort and struggle.“ – NapoleonHill

24. What can we do? • Invest in ourselves like we mean it • University research capability • Entrepreneurship support • Capital programs • Leverage local investment • Double down on proven programs • Do it at scale (what were we willing to do for Amazon?) • Value ourselves • Be in it for the long term

25. UCF’s Entrepreneurial Program Impacts Closing Slide • NSF I-Corps: 96 teams served; 38 participants formed new ventures; 18 patents licensed from UCF; $1.5 million in follow on funding secured by startups • UCF Venture Accelerator: Assisted 700 potential technology entrepreneurs and more than 100 UCF faculty members since inception. • UCF BIP: Sustain 4,710 jobs from 2014 – 2016, regional GDP of over $725 million; $7.41 ROI for each dollar invested • UCF BIP Soft Landing: 23 domestic and international companies established businesses in Central Florida • Florida SBDC at UCF: In 2015, created 111 new businesses and 7,333 jobs; generated $990.3 million in sales • GrowFL: Generated 10,942 new jobs; $9.10 ROI for every dollar invested; estimated to create more than 40,000 new jobs over the next 10 years Questions / Comments? Dr. Tom O’Neal Associate Vice President of Innovation and CommercializationOffice of Research & CommercializationUniversity of Central Florida oneal@ucf.edu

26. North Florida – Entrepreneurial Success • Healthcare Company • Healthcare Communications • Innovative Interface • Secure Data Transfer • Documentation Scans • Intake and Referrals • Documentation Tracking • HIPAA Compliance • Sales and Revenue Growth • Job Creation • Economic Impact in North Florida Craig Mandeville, Founder and CEO

27. Space Coast – Entrepreneurial Success

28. Southeast Florida – Entrepreneurial Success Artificial Intelligence: Facial Recognition • Human Analytics – Virtual Interactions • Facial Identification • Emotion and Sentiment Identification • Demographics: • Age • Gender • Ethnicity “Making it easier than ever to transform the way your business interacts with people.” www.kairos.com

29. Central Florida – Entrepreneurial Success • Alternating Electric Field Therapy – Tumor Treating Fields (TTF) • Patent-Pending LB10000 device • Stage 4 Metastatic Cancer Therapy • Increased Lifespan • Delivers TTF Therapy to Multiple Locations

30. Southwest Florida – Entrepreneurial Success • Innovative Platform • Chronic Healthcare Management • 1,000 Healthcare Provider Clients • 300 Locations Nationwide • $22.45 Million in Venture Capital • $18 Million in Series B Funding https://lillypad.lilly.com/entry.php?e=7000