There are a number of similarities between a new effort in Tampa Bay and the situation in the Knoxville region.
Through investments in start-up accelerators and university entrepreneur programs, Tampa’s start-up ecosystem has grown steadily over the years. However, the early stage capital market within the region remains nascent. A lack of seed capital is inhibiting many promising tech founders from growing fast enough to compete, sometimes resulting in relocation to other cities or disbanding their startup completely.
So, four individuals have committed to being part of the solution, launching TampaBay.Ventures, a $20 million fund focused on investing in 20 companies over the next five years. You can learn more about their plans here.