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Guide to Start-up Resources for UCF I-Corps Teams

UCF has made available a variety of resources and services to teams as you continue your efforts to build a business. This guide serves as an overview of those services.

1. UCF Office of Research & Commercialization Resources

1.1 Venture Accelerator Lab (VAL)

All I-Corps teams have access to an array of resources from the UCF VAL. You are assigned a team lead in the Venture Accelerator who will work with you and help you navigate all the resources available to you. Contact us to identify and map out your resource options, timeline and plan.

Venture Accelerator Lab Services

Legal OmbudsmanAssistance

• Initial company formation, bylaws, application for FEIN (filing fees paid by entrepreneur)• Stockholder agreements/certificates• Stock option plan• OTT licensing• Non-disclosure agreements

Business Planning • Business plan with inventor input• Market research and financial projections• Recommend sources of capital• Assistance on hiring/incorporation decisions

SBIR Assistance • Finding solicitation and agency fit• SBIR process guidance• Draft budget and writing assistance• Help with letters of support• Project management• Registrations and submission

Student Shared Services • Center for Entrepreneurial Leadership• Blackstone Launchpad• Priority access to Student Maker Spaces

Investment CapitalAssistance

• Coaching on angel and early stage VC presentations• Feedback from angel investors in FAN• Introduction to Fortune 1000 companies for strategic investment

Other • Management and Team building education • Shared office space , networking, and education workshops at UCF-BIP

Research Park incubator

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1.2 UCF Business Incubation Program (UCFBIP)

The business incubation process provides emerging enterprises with a strategic path, a wide array of vital business development services and resources, and on-going guidance, motivation and support that are all individually tailored to help take your company to the next level. Services include industry immersion through networking events, access to legal services, finance and accounting assistance, and more. You also receive a business address, mail services, internet connection and conference rooms through cost-effective office space with flexible leases.

To find more information, visit incubator.ucf.edu.

1.3 Office of Technology Transfer (OTT)

For companies that have a technology which was developed through UCF research, the Office of Technology Transfer actively works to protect and bring UCF researcher’s ideas to market. With expertise in the disciplines of science, business, and law; OTT is responsible for evaluating technologies, managing UCF’s intellectual property assets, and supporting the commercialization of discoveries made at UCF.

Visit tt.research.ucf.edu for more information.

2. UCF Student Entrepreneur Resources2.1 UCF Blackstone LaunchPad

The University of Central Florida Blackstone LaunchPad is a student-serving organization — absolutely free and always student-paced. They provide one-on-one coaching, just-in-time resources, daily Start Up Seminars Monday-Friday from 12:00 pm – 1:00 pm, and access to a mentor network and subject matter experts.

Visit cel.ucf.edu/launchpad/ for more information.

2.2 UCF Maker Spaces

UCF recently received $500,000 through a national program called the “i6 Challenge.” This i6 grant will support UCF’s new “I-Corps Proof of Concept Center,” where talented engineers from the five counties hardest-hit by changes in the local economy (Orange, Seminole, Brevard, Osceola and Volusia) may utilize UCF College of Engineering and Computer Science’s Maker Space lab complex—including the Harris Corporation Gathering Lab, Idea Lab, Texas Instruments Innovation Lab and Manufacturing Lab.

2.3 Business Competitions

UCF Joust—New Venture Competition

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The UCF Joust New Venture Competition (NVC) celebrates the entrepreneurial efforts of student starters across campus by showcasing their startup proposals, introducing them to community leaders, and providing resources necessary to launch their ventures. In this annual competition, the top four ventures will earn up to $75,000 in cash and essential business services. To enter, teams must contain at least one UCF student.

Visit cel.ucf.edu/joust/ for more information.

UCF Business Model Competition

The Business Model Competition at UCF celebrates student teams who test their innovative ideas with potential customers and partners, and use what they learn to improve their proposals. This annual competition offers the opportunity to win $1,500 in cash awards, the recognition of your hard work, and networking with entrepreneurial leaders from our community. The winner is also eligible to participate in the International Business Model Competition.

Visit cel.ucf.edu/bmc/ for more information.

3. Funding3.1 NSF I-Corps National Team ($50K)

Every team completing the UCF I-Corps program is in a very well-placed position to apply for an NSF I-Corps National Teams program. The curriculum, processes and team structures remain much the same for the NSF I-Corps as the UCF program. Teams are awarded $50,000 in grant funding to be used for customer discovery.

For additional details about the program, the proposal process and requirements visit nsf.gov/news/special_reports/i-corps/teams.jsp and contact the UCF VAL to receive assistance.

3.2 SBIR/STTR

Goals of the SBIR/STTR program include stimulating technological innovation by small US businesses, strengthening the role of small businesses in meeting Federal research and development needs, and increasing private-sector commercialization of innovations derived from Federal research and development funding.

Phase 1 of the grant establishes the technical merit, feasibility, and commercial potential of the proposed R/R&D efforts and determines the quality of performance of the small business awardee organization prior to providing further Federal support in Phase II. Phase 1 awards go up to $150,000 for 6 months; this is followed by Phase 2, where full research and development takes place, and is a max of $1 million for 12 months. Phase 3 is full commercialization through revenue or external (non-SBIR/STTR) funding.

Each I-Corps team that has made a “GO” decision for their innovation is in a unique position to apply for Phase 1 funding. Through I-Corps, your team has thought through the market potential for your product, and backed your hypotheses up with solid evidence through the process of customer

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discovery. This gives you a distinct advantage when applying for SBIR and STTR grants.

If you plan on going for SBIR funding, visit SBIR.gov for more information and contact UCF VAL to receive assistance on finding and applying for open solicitations.

3.3 Enterprise Florida’s “Phase 0” program

The SBIR/STTR “Phase 0” Pilot Program is being implemented through a partnership between Enterprise Florida, Inc., and participating Technology Incubators, University Technology Transfer Offices, Economic Development Organizations, and Small Business Development Centers. It is intended to help Florida companies increase their chances of submitting a successful Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) proposal.

Companies must apply with a non-refundable $250 application fee. And upon acceptance, will receive up to $3,000.

Visit enterpriseflorida.com for more information.

3.4 Florida Institute for the Commercialization of Public Research (FICPR)

FICPR is a non-profit organization that supports new company creation based on publicly-funded research in Florida. The Institute works collaboratively with technology licensing officers across the state to create new companies and jobs using a proven, two-pronged approach that includes both: company building and company funding programs, ensuring that the most promising start-ups receive the support and capital they need in order to grow. The Institute provides $50,000 – $300,000 in seed funding to qualified companies. Funding may be provided either as debt or equity. To qualify, the company’s core product must be based on technology developed at a university, college, research institute or other publicly supported research organization in the State of Florida, and must secure a 1:1 match attracting private-sector, accredited third-party investors who will provide qualified equity financing.

Visit florida-institute.com for more information on FICPR and how to apply.

3.5 Florida Angel Nexus (FAN)

The Florida Angel Nexus powers angel investment groups statewide. They provide deal flow, due diligence and portfolio management for groups of accredited investors. With the help of industry experts, FAN coordinates investigations to better understand the market, product, and execution risk of investment opportunities. Applicant companies undergo this screening process, and those selected gain exposure to angel investment groups across the state, who then co-invest to meet the company’s fundraising goals.

Visit floridaangelnexus.com for more information on FAN and how to apply.