Florida State University is growing the innovation ecosystem of North Florida, and a recent FSU Discovery Days event showcased the university’s ambitious plans for the region.
Earlier this year, the National Science Foundation awarded FSU a $6 million grant to advance research with commercialization potential and support entrepreneurial training. The winning proposal, Inspiring the Generation of New Ideas and Translational Excellence at Florida State University, or IGNITE-FSU, provides programming and training opportunities for FSU entrepreneurs and the broader Tallahassee community.
Through that program, FSU launched the business incubator IGNITE Tallahassee — named more broadly to be clear all technology-based companies are welcome.
“By fostering innovation and providing critical support to entrepreneurs, we are not only advancing research and commercialization but also building a robust ecosystem that will drive economic growth and societal impact for years to come. This initiative underscores our commitment to empowering the next generation of innovators and leaders.”
— Stacey Patterson, Vice President for Research
On Wednesday, IGNITE Tallahassee held an event that brought together a diverse community of entrepreneurs, investors and innovators to celebrate and nurture the growth of new technology ventures.
“IGNITE Tallahassee represents a transformative step forward for our community,” said FSU Vice President for Research Stacey Patterson. “By fostering innovation and providing critical support to entrepreneurs, we are not only advancing research and commercialization but also building a robust ecosystem that will drive economic growth and societal impact for years to come. This initiative underscores our commitment to empowering the next generation of innovators and leaders.”
IGNITE Tallahassee is located in Innovation Park. Currently at the beginning stages of its four-year plan, IGNITE will provide mentoring programs for budding entrepreneurs, launch seed funding programs aimed at translational research and help establish partnerships to support an innovative ecosystem.
“The program is designed to foster innovation and help translate technologies from the lab into the marketplace,” said Alissa Costabile, IGNITE program director. “When it comes to startups, Florida is on fire and we are here to ignite that fire in Tallahassee.”
By leveraging business development expertise, community networks, state-of-the-art facilities and access to funding sources, IGNITE helps innovators close the gaps that may be impeding their progress.
“It never gets old meeting with faculty or community members who have an idea on a piece of paper, to then holding that idea in my hand or seeing the results become successful,” said Valerie McDevitt, associate vice president of FSU’s Strategic Partnerships and Innovation.
Wednesday’s Discovery Days event began with a networking session to allow participants to connect and set the stage for a day of discussions.
Louis Foreman, founder and chief executive of Enventys Partners, a full-service product development and marketing firm, delivered the keynote address and shared his insights on innovation and entrepreneurship.
“The journey of being an entrepreneur is riddled with all the sorts of roadblocks and detours,” Foreman said. “We as entrepreneurs and business leaders can share our experiences with the next generation of entrepreneurs. I believe their journey will not only be easier but much more successful. IGNITE creates an opportunity for entrepreneurs to harness community support and drive innovation forward. It’s a testament to what innovation is all about and how a community can come around and really grasp the opportunities that are in front of us and enable entrepreneurship to happen.”
A panel discussion, “Capital Advice: VC and Angel Tips & Trends for Startups,” featured a group of seasoned venture capitalists and angel investors. Panelists discussed the latest trends in startup funding and offered practical tips and strategies for securing investments.
Keevin Williams, an FSU College of Law alumnus (‘97), aerospace project finance and tax consultant and former vice president of special projects and strategic initiatives for Space Florida, shared his insights about the importance of strategic funding for entrepreneurs.
“Aside from self-funding and investments from family and friends, I would encourage high-tech entrepreneurs to explore non-dilutive sources of capital such as federal Small Business Innovation Research and Small Business Technology Transfer funding and convertible debt from non-bank lenders, being mindful of how the latter could dilute the ownership of existing shareholders,” he said
Guests at the open house also toured the new facilities at Innovation Park. To learn more about IGNITE and how to participate, visit research.fsu.edu/ignite.