The Florida Innovation Hub, Florida University’s business incubator, has received an $8m grant from the US Economic Development Administration (USEDA), doubling the amount the office has backed the hub with.
USEDA originally provided the $8.2m Florida used to open the incubator in 2011, which is currently based in a 48,000 square foot building near the university’s campus. The latest funding will allow the hub to expand to offer space to up to 45 startups at any given time.
The expansion will also include a focus on developing female entrepreneurship with the Entrepreneurial Women’s Centre, which will provide mentorship to women with a view to prepare them to take on leadership positions in tech firms – an area where women are woefully unrepresented.
Kent Fuchs, Florida’s president, said: “The expansion of the Innovation Hub will enable UF to excel further in its mission to create and grow innovative, high-tech companies that will drive future economic growth within the state of Florida.”
