Tampa Bay’s startup capital comes into startup companies from profitable sales and/or new equity – the high potential firms can also convert or sell assets and/or acquire new debt.
A bright spot for Tampa Bay, in generating profitable sales are the 76 companies that appeared on the 2011 Inc. 5000 list of the fastest-growing private businesses in America.
On the other hand, it is a well-known fact that equity capital available for funding seed and early stage investment in scalable startups in Tampa Bay is scarce, primarily located out of state, and overly difficult to acquire and maintain permanent headquarters here locally. This issue has come to a head recently as the Tampa Bay area has lost some of its top young promising startups to other markets with stronger capital pipeline.
The specific, measureable goal is increased net new equity investment.
The capital plan:
- The Big Chunk (a fund that can invest in a large portfolio of startups – like Y Combinator or TechStars)
- Private Investor Education (like Angel Bootcamp)
- Recruit Institutional Capital and State Funds
The existing infrastructure of private investors, crowdsourcing, competitions & microgrants and then help carry the burden of funding scalable startups.
The vision is to make Tampa Bay a destination for startup investing.
Results?
Stagnant since the launch of the 6/20 initiative June 20, 2012.