STAR TEC Technology Accelerator Lists Accomplishments

LARGO - STAR Technology Enterprise Center, an innovation and entrepreneurship center and business accelerator/business incubator for technology businesses, has completed another successful year of service to technology entrepreneurs.

“With the support of a dedicated group of professional mentors, a top-notch advisory board and extensive community relationships, we can point to a number of successes in our ‘mind to market’ model for working with technology entrepreneurs,” says Tonya Elmore, president of STAR TEC Enterprises.

Elmore describes the mind to market model as one that assists technology entrepreneurs during all stages of the business life cycle, from concept through exit strategy, serving as a referral center, business incubator and business accelerator:

• For those in the earliest or concept stage, STAR TEC provides information and referral to community resources, education through monthly TEC Talk programs and market research through TEC Launch to evaluate the business idea and provide a customized report tailored to specific business objectives.
• TEC Venture services provide assistance with business planning and strategy formation for entrepreneurs who need help organizing and building the technology business.
• Following a detailed vetting process, TEC Accelerator offers customized advisory/mentoring teams, training, networking, cooperative marketing and other administrative services. Business accelerator clients also gain access to government contracting opportunities and financing sources.
• Services are also available for STAR TEC graduates.

“Over the years, STAR TEC clients have created 300 direct new technology jobs which, as of 2009, averaged $87,000,” says Elmore. “This is an extremely cost effective way to harness entrepreneurial energy to achieve long lasting benefits.”

As for 2010 accomplishments, Elmore adds that STAR TEC served the community in the following ways:

• More than 500 technology business owners and others attended a monthly TEC Talk educational program.
• More than 60 mentors and entrepreneurs, including community service providers and volunteers from The CEO Council of Tampa Bay, provided more than 250 hours of advice to STAR TEC clients and programs.
• 55 technology business owners received advisory services from STAR TEC’s various committee members and programs.

“Although we are at capacity in our manufacturing and wet lab space, we still have space in the facility for more technology start ups in such areas as software development and biometrics,” says Elmore. “In the future, we plan to expand to a total of 50,000 square feet of space so we can continue to serve the needs of the local and statewide technology communities.”