Fertile ground for
entrepreneurs
Florida is a great place to plant and grow a business. The Small Business and Entrepreneurship Council’s “2008 Small Business Survival Index” ranked Florida fourth among the friendliest states for entrepreneurs, and no wonder:
» Florida is home to 34 Small Business Development Centers and the Disney Entrepreneur Center, all of which provide one-on-one counseling, training and other assistance to entrepreneurs at every level.
» The state of Florida Office of Small Business Advocate conducts research on issues facing Florida’s small businesses with a goal of identifying primary concerns and sharing that information with the governor and legislators for actions on the state level aimed at improving small business success.
» The Florida Institute for the Commercialization of Public Research, a partnership among state university tech transfer offices housed at Florida Atlantic University in Boca Raton, serves as a “one-stop-shop” for investors, entrepreneurs and corporate partners seeking to identify new opportunities based on technologies and products developed through publicly funded research across the state.
» Smarter Climate Control
In 2008, Polina Corporate Real Estate ranked Florida second on its list of “Top 10 Pro-Business States,” considering such factors as taxes, right-to-work legislation and energy costs. (California, New York and Massachusetts didn’t even make the list.) And on the “Business Tax Index 2009” compiled by the Small Business and Entrepreneurship Council, Florida ranked sixth among the nation’s 15 best state tax systems. Here’s why.
Florida is one of only seven states with no personal income tax. There is no corporate income tax on limited partnerships or subchapter S-corporations, no corporate franchise tax on capital stock and no property tax on business inventories or on goods in transit for up to 180 days. In many cases, Florida is able to work with companies to tailor innovative incentive packages and provide worker training programs to meet specific needs. Firms looking to relocate or expand in designated rural counties, Brownfields or urban Enterprise Zones may be eligible for additional incentives.
Furthermore, Florida’s regulatory agencies and local governments are committed to providing quicker, less costly and more predictable permitting processes for significant economic development projects without compromising environmental standards. |
Universities sow
the seeds
A National Science Foundation report shows that Florida’s academic institutions attracted more than $1.5 billion in R&D from public and private sources in FY2007 — the 10th highest among all states. And that investment is paying off in the form of new technologies.
In the third annual patents scorecard released by IEEE Spectrum in April 2009, University of Central Florida beat out Princeton, Stanford and the University of North Carolina to rank seventh in the nation for the “power” of its patents. Based on factors such as the number, originality and impact of patents a university produces, UCF received a total “power” score of 242, enough to secure itself a slot in the top 10 ranking alongside such venerable institutions as MIT, Cal Tech and Harvard.
“The company we keep is darn good,” says M.J. Soileau, vice president for research and commercialization at UCF. “To be on any list with that group is huge and just goes to show that our strategy is working. Given the resources, we know how to do this job.”
Entrepreneurs reap
the benefits
Patents can become products, and products can spawn new companies. In Florida, the connection between university research and business startups/entrepreneurship is especially strong. Examples include:
» The Center for Entrepreneurship and Innovation, University of Florida —
In a program combining theory and practice, students at all levels are given the tools and experiences they will need to succeed at real-world entrepreneurship opportunities.
» Business Incubation Program, University of Central Florida —
The UCF Incubation Program has helped some 100 emerging companies create more than $500 million in annual revenue and 900 new jobs with an average annual salary of $59,000. With eight facilities throughout central Florida, the incubator provides business startups with assistance in strategic planning, budgeting, marketing, intellectual property issues and office operations.
» The Launch Pad, University of Miami —
Offering traditional startup support, more than 30 “venture coaches” work one-on-one with students and alumni seeking to launch their own businesses; those who receive the free help are asked, in turn, to serve as coaches to others.
» "Chempreneurs" program, Florida State University —
Launched in spring 2009 to develop a commercialization plan for technology created within the chemistry department, this pilot program coupled doctoral candidates in chemistry with undergraduates who are in the university’s Jim Moran Institute for Global Entrepreneurship.
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