UCF Business Incubation Program Wins International Award
April 9, 2013 |
Orlando, Florida – UCF’s Business Incubation Program has been selected as the 2013 Incubator Network of the Year by the National Business Incubation Association during NBIA’s International Conference on Business Incubation in Boston.
Since its founding in 1999, the UCF Business Incubation Program is (BIP) has helped more than 300 emerging companies that have created more than 3,100 jobs.
The program is a prime example of the impact partnerships between the university and local and regional governments can have on a community, said MJ Soileau, vice president for research & commercialization at UCF.
“This recognition is a testament to all those who have recognized the role this effort has in creating strong jobs that take root and stay in a community,” Soileau said.
The BIP was started by Tom O’Neal, now associate vice president for research & commercialization, with a partnership with Orange County in 2000. Soileau commended O’Neal and his incubation team for their efforts on behalf of UCF and the Central Florida business community.
The BIP has grown to nine incubators supported by governments and communities across Central Florida. The program has been credited with helping companies that, together, generate more than $500 million in annual revenue. The jobs created by these companies pay an average wage that is 45 percent above the region’s wage.
Our incubation program is the primary component of the Innovation Ecosystem that UCF and our partners have built for Central Florida,” Soileau said. “Together these programs create a healthy environment for growing companies and well-paying jobs.”
The NBIA estimates that in 2011 alone, North American incubators assisted about 49,000 start-up companies that provided full-time employment for nearly 200,000 workers and generated annual revenue of almost $15 billion. Approximately 7,000 business incubators operate worldwide.
The National Business Incubation Association is the world's leading organization advancing business incubation and entrepreneurship. Each year, the NBIA Incubation Awards honor the business incubation programs, graduates and client companies that exemplify the best of the industry.
