Overview
What is Institute For Commercialization Of Florida Technology Inc?
The Institute for Commercialization of Florida Technology Inc, based in Tampa, Florida, is a nonprofit organization dedicated to promoting economic development. They accomplish this by matching commercially viable technologies with experienced management and capital, thereby facilitating the creation of new startup companies. They also manage seed funding programs, providing financial assistance to early-stage companies, with the condition that they match the Institute's funding with private investment capital. This year, the Institute's funds have resulted in an impressive economic impact of $733 million, with more than 60 million raised in private matching funds. Their mission is centered around economic development through the commercialization and funding of new discoveries generated from Florida innovation businesses. The success of their mission is measured by the number of new ventures and jobs created, and the amount of capital companies are able to raise.
Official website here: www.florida-institute.com
Is Institute For Commercialization Of Florida Technology Inc legitimate?
Institute For Commercialization Of Florida Technology Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Institute For Commercialization Of Florida Technology Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $92,830
Professional Fundraising Fees: $0
Other Salaries and Wages: $10,769
For more financial information, click here
Official website here: www.florida-institute.com
What is the mission statement of Institute For Commercialization Of Florida Technology Inc?
The Institute for Commercialization of Florida Technology Inc's mission is centered around fostering economic development. This is achieved by commercializing and financing new discoveries originating from Florida's innovation businesses. The success of the institute is measured by the creation of new ventures and jobs, as well as the amount of capital these companies manage to raise. In line with Florida's targeted industry cluster strategy, the institute matches commercially viable technologies with experienced management and capital, thereby establishing new startup companies. Additionally, the institute manages seed funding programs to provide funds to eligible early-stage companies. To qualify for funding, these companies must match the institute's funding with private investment capital. This year, the institute's funds have raised nearly $67 million in private matching funds. The economic impact of these activities this year is estimated to be $733 million.
Official website here: www.florida-institute.com
Who is the CEO of Institute For Commercialization Of Florida Technology Inc?
Rafael Lohner is the Chairman of Institute For Commercialization Of Florida Technology Inc.
Official website here: www.florida-institute.com
What is the revenue of Institute For Commercialization Of Florida Technology Inc?
Institute For Commercialization Of Florida Technology Inc's revenue in 2022 was $342,694.
Official website here: www.florida-institute.com
Who are the executives of Institute For Commercialization Of Florida Technology Inc and what are their salaries?
The average compensation at Institute For Commercialization Of Florida Technology Inc during 2022 was $103,599. There is 1 employee and 30 volunteers at Institute For Commercialization Of Florida Technology Inc.
Here are 5 key members and their salaries:
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- Compensation: $88,308
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Official website here: www.florida-institute.com
Where can I find the form 990 for Institute For Commercialization Of Florida Technology Inc?
Institute For Commercialization Of Florida Technology Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.florida-institute.com
Learn more at the official website: www.florida-institute.com
Mission Statement of Institute For Commercialization Of Florida Technology Inc
The Institute for Commercialization of Florida Technology Inc is dedicated to fostering economic growth by commercializing new discoveries generated from Florida's innovation businesses. The organization's mission is to facilitate the development and funding of these innovations, measuring success by the number of new ventures and jobs created, as well as the amount of capital raised by these companies. In pursuit of this goal, the Institute matches commercially viable technologies with experienced management and capital to create new startup companies. Additionally, it manages seed funding programs to provide financing for qualified early-stage companies. Recipients of this funding are required to match Institute funding with private investment capital, and companies funded by the Institute have raised nearly $67 million in private matching funds this year. The Institute's funds are managed by the same private fund manager as the previous fiscal year, completing 14 funding transactions. The Institute's activities this year have resulted in an economic impact of $733 million.
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Impact
October, 2024
The Institute For Commercialization Of Florida Technology Inc significantly fosters economic development by transforming innovative discoveries into viable business opportunities. By aligning commercially viable technologies with experienced management and capital, the Institute plays a crucial role in the formation of new startup companies. This is particularly important in promoting Florida's targeted industry cluster strategy.
In the past year, the Institute has successfully managed seed funding programs that have empowered early-stage companies, requiring these businesses to secure matching private investment. As a result, they have attracted nearly $67 million in private matching funds, showcasing the effectiveness of their funding model. The Institute's activities have not only stimulated the growth of startups but have also generated an impressive economic impact of $733 million in a single year.
Moreover, the success of the Institute is reflected in the number of new ventures created and the jobs generated, reinforcing its commitment to advancing Florida’s innovation ecosystem. Through its strategic initiatives, the Institute continues to drive community improvement and contribute to the overall prosperity of the region.
This information is meant to be a general summary of Institute For Commercialization Of Florida Technology Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Program Service Revenue: $342,694
- Gross Receipts: $342,694
Assets and Liabilities:
- Total Assets: $17,091,469
- Total Liabilities: $145,048
- Net Assets: $16,946,421
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SCAP LOAN INTEREST INC
Revenue
$175,099
PROGRAM RELATED INVEST
Revenue
$159,595
CLOSING FEES
Revenue
$8,000
Organization Details
Founding Year
2007
Phone
(561) 368-8889Principal Officer
Rafael Lohner
Main Address
6911 PISTOL RANGE RD 131, TAMPA, FL, 33635
Website
www.florida-institute.comNTEE Category
Code: S40 - Community improvement
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