The following criteria reflect the “minimum” requirements for consideration for admission into UF Innovate | The Hub. Meeting these criteria is no guarantee of admission; after a full application and business concept statement are received, the Advisory Board will meet to discuss further action. Generally, you will receive an answer within a 2-week period from Management and/or the Advisory Board. These criteria are provided only as a guideline for application.
- The applicant’s technology is well-protected and exclusive, without any existing interferences or infringements.
- The applicant’s technology is focused on a potential commercial application.
- The applicant has adequate capitalization (in the bank) to provide for six (6) months of viable operation and a plan for further financial stability; can pay at least six (6) months of rent to the Incubator; and has a viable financial plan for the company.
- The applicant’s business plan (or business concept) addresses the following:
- Potential markets & their size
- Growth potential for each product line
- Financial pro formas
- Personnel growth & acquisition plan for the next three (3) years
- Exit strategies and how those will be accomplished
- The economic development potential for the State of Florida and the state of the business, plan and exit strategy
- The applicant’s management has sufficient technical expertise in the field.
- The applicant demonstrates the appropriate mix of qualified personnel in market management, financial management and employee management.
- The applicant supports & enhances the educational mission of the University of Florida & its affiliates
- Through hiring or internships, or
- Through board membership, or
- Through licensing or acquisition of services
- The applicant fits within the operational model of the facility, including: Space requirements (less than 4,000 sf), timely rent payment, insurance, equipment or facility requirements, and any other requirements as deemed necessary by the Director.
- The applicant does not exceed space available or does not need special arrangements that cannot be supplied.
If you have questions or need further information, please feel free to email us.
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