Northwest Florida Tech Ecosystem Guide
Hi, I’m Kelly, an ecosystem builder across Florida’s Northwest coast and a collaborator at heart. I share the vision of #BuildinSE to unite the region in support of startups and want to ensure NWFL founders are in the mix. A Pensacola native, I’ve seen the region transform itself in recent years from a bifurcated economy relying solely on tourism and military into a viable and preferred location for private sector tech entrepreneurs. Join me in a deep dive into the region I call home.
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Northwest Florida, AKA the Emerald Coast, is known for its beautiful beaches and famous vacation spots like Destin, Panama City and the luxurious stretch along 30A. However, the Emerald Coast also has its own unique ecosystem for entrepreneurs and tech startups. Building on unique military assets and workforce, the region is differentiating itself as a center for cybersecurity and destination for aviation- and defense-related startups. The two major hubs for the tech ecosystem are located in the perimeter cities of Pensacola and Panama City.
The western gate to the Sunshine State, Pensacola is the largest metropolitan area in the Florida Panhandle. Pensacola is known for its proud military heritage as the cradle of Naval Aviation and is home to the Blue Angels flight demonstration team. In addition, Pensacola is home to multiple military installations, the University of West Florida and the Florida Institute for Human and Machine Cognition, an award-winning research center.
Panama City is a well-known destination for many spring-breakers. When it comes to its entrepreneurial ecosystem, Panama City has numerous emerging resources like the Advanced Technology Center at Gulf Coast State College, Florida State University-Panama City and TechFarms, a tech-focused incubator and makerspace.
This guide will highlight the key resources to help you navigate the entrepreneurial ecosystem across Northwest Florida.
Here’s what you’ll find in this guide:
● VC firms
● Angel groups
● Startups to watch
● Incubators and accelerators
● Coworking spaces
● Founder communities
● Major events and conferences
● Educational resources
● Additional resources
Capital Landscape
In the past year, the Southeast experienced nearly 20% growth in new angel network and venture firm creation. According to the Southeast Capital Landscape, Florida is home to 50+ firms, with the majority focused on pre-seed and seed investments.
VC Firms/Angel Groups in NWFL
● TechFarms Capital: TechFarms Capital invests in early-stage tech startups in the Southeast United States. Based in Northwest Florida, the fund was established to professionalize access to seed-stage capital required by an increasing number of tech startups.
● RCP Equity: RCP Equity sits between venture capital and private equity. RCP Equity is a venture equity firm that provides people, process and resources needed to grow businesses for the long-term.
● Lydia Partners: Lydia Partners is a venture capital firm focusing on early-stage investments in the consumer technology, healthcare, and biomedical industries. Lydia’s investment model is an operating venture model. Lydia Partners works with creative entrepreneurs and founders who seek to revolutionize their industries through innovative technology to create solutions to improve the quality of life and health of consumers.
● Florida Funders: Headquartered in Central FL, Florida Funders is a dynamic team of serial entrepreneurs, venture capitalists, and experienced angel investors singularly focused on uncovering Florida’s next breakout technology companies.
● AIM Group: Based in Alabama with a chapter in Pensacola, AIM Group is a unique self-directed venture capital model that enables one to build an automatically diversified portfolio while gaining access to 30+ vetted investment opportunities in high-growth technology companies. AIM Group provides the venture capital experience with flexibility for the individual investor.
● One in a Row Ventures: One in a Row is a group of operators, entrepreneurs, and founders focused on acquiring and managing a single small to medium-sized business. They are looking for companies that have an established recurring customer base, consistent profitability, and an opportunity for growth.
Startups to Watch
● OxeFit: OxeFit’s core technology integrates robotics, movement and performance tracking, advanced coaching and analytics, to help individuals and teams become more fit.
● Intelligent Retinal Imaging Systems (IRIS): Founded in 2011 by nationally recognized retina surgeon, Sunil Gupta, M.D., IRIS has the goal of saving sight for millions of these people. Accomplishing this would require the development and deployment of screening services that would enhance preventative care. The IRIS team has developed a breakthrough cloud-based platform and image-enhanced technology that connects primary-care physicians with optometrists and ophthalmologists who can read eye exam images taken during a normal doctor visit.
● Argo Cyber Systems: Located in beautiful and historic downtown Pensacola, Argo Cyber Systems offers 24/7 dedicated security monitoring of critical infrastructure assets, businesses, and other environments.
● National Energy: National Energy provides leading-edge environmental expertise to government and private sector clients, addressing a full range of challenges, including regulatory compliance, natural resource management, greenhouse gas reduction, sustainability and energy efficiency.
● QuNav: Located in Fort Walton Beach, QuNav is a team of talented engineers and researchers motivated by advancing the technology of positioning, navigation, and timing. QuNav develops and implements sensor-fusion and software receiver solutions for GPS-challenged and GPS-denied environments.
● Chaos Audio: Based in Panama City Beach, Chaos’ signature Stratus product is a smart effects device for the music industry incorporating a mobile app and online marketplace for aspiring guitarists.
● Mine Survival, Inc.: Started by a Naval diver, MSI manufactures cutting edge surface rebreathers. MSI rebreathers are smaller, lighter weight and are used as Self Escape Respirators, High Rise Escape Breathing Devices, and HazMat escape respirators. MSI has also developed the world’s most advanced breathing simulator.
Incubators and Accelerators
● TechFarms: TechFarms is a place to connect, dream, create, and engage within a thriving entrepreneurial community. TF provides innovators and entrepreneurs with office and coworking space, equipment, prototyping facilities, access to capital, and business and technical mentoring.
● Co:Lab Pensacola: Co:Lab Pensacola has one goal: to help entrepreneurs reach their next level. Co:Lab Pensacola is a catalyst to help innovative companies continue their climb to reach their potential and to ultimately create high-wage jobs that will sustain long-term economic growth for Pensacola.
● The Jetty IoT: Jetty IoT is a workspace and resource center facilitating those who are passionate about stimulating a better tomorrow through IoT.
● gBeta Pensacola: gBETA is a program of nationally ranked startup accelerator gener8tor. gBETA is a free, seven-week accelerator for early-stage companies with local roots. Each program is capped at five teams, and requires no fees and no equity. gBeta is a program of the Spring Entrepreneur Hub.
● ArgoTank: The ArgoTank Commons Entrepreneurship Incubator Space at UWF is designed to provide students with the space and equipment needed to support their entrepreneurial ambitions.
Coworking Spaces
● The Spring: The Spring Entrepreneur Hub exists to empower, connect and grow small businesses in the Pensacola area, serving as the front door to Pensacola’s entrepreneurial ecosystem. 220 W. Garden St. #100, Pensacola, FL 32502
● Cowork Annex: CoWork Annex is a new kind of authentic community where people, from all walks of life, can connect, collaborate, and conquer their life goals. 13 Palafox Place, Suite 200, Pensacola, FL 32502
● Beachworx: Beachworx fills the need for short term coworking space and private offices for individuals, small businesses, and corporations in Destin. 34990 Emerald Coast Pkwy, Suite 300, Destin, FL 32541
● Long Hollow Creatives: Long Hollow Creatives is a space where Pensacola’s business and creative professionals can pursue their passion and grow in their craft. 700 N. Guillemard Street, Pensacola, FL 32501
● Pensacola Socialdesk: Socialdesk supports the Florida Gulf Coast business community by providing workspaces and event spaces. 3695 North L Street, Pensacola, FL 32505
Founder Communities
● Studer Community Institute: Founded by Quint Studer, a local visionary and entrepreneur, the Studer Community Institute aims to transform organizations by providing programs, workshops, webinars, online content and toolkits; all designed to help create great places to work.
● Startups on the Blocks: Startups on the Blocks, is a network platform that seeks to empower founders of color with the know-how to turn their ideas for solving problems into products and services. Local, state, regional, national, and global entrepreneurial ecosystems support founders on building their startup with mentorship, best practice training, networking, office space, and funding resources. These events occur weekly to provide startup services to founders of color.
Major Events and Conferences
● ITEN Wired: ITEN (Innovation Technology Entrepreneur Network) WIRED Summit is the Southeast’s premier cybersecurity and IT conference to connect, collaborate and build community with industry leaders, entrepreneurs and educators on innovation, technology and entrepreneurship topics.
● EntreCon: EntreCon provides attendees with a front-row seat to both local and national speakers, practical knowledge and tools, and first-class networking within our community. EntreCon is more than a conference: it creates a chain reaction of positive impact, elevating leadership skill sets, and growing organizations rooted in purpose.
Educational Resources
● University of West Florida- Center for Entrepreneurship: The University of West Florida Center for Entrepreneurship is dedicated to seeding economic growth. The Center encourages and supports educational initiatives related to entrepreneurship and entrepreneurial thinking and serves as a comprehensive resource for economic innovation for students, faculty, industry and community partners. The Center for Entrepreneurship seeks to support the complete life cycle of an entrepreneur. Quint Studer serves as the Entrepreneur in Residence.
● Florida State University- Jim Moran College of Entrepreneurship: The revolutionary and highly experiential Jim Moran College of Entrepreneurship is dedicated to teaching those who wish to embark on an entrepreneurial journey. The entrepreneurship major has been offered at FSU Tallahassee and Panama City since the beginning of fall semester 2017.
● Florida State University Innovation Hub: With a branch Located within FSU Panama City, the FSU Innovation Hub aims to foster a collaborative community founded on a culture of creativity and innovation that identifies issues, explores opportunities, and develops solutions using design thinking and emerging technologies.
● Pensacola State College Valentino BAS in Entrepreneurship: The Valentino Associate in Science degree in Business Entrepreneurship provides students with a broad foundation in all areas of business with an emphasis in entrepreneurship. Through this program of study, the student will develop entrepreneurship skills, including identifying, valuing, and capturing business opportunities.
Additional Resources
● Small Business Connect by Gulf Power: Gulf Power recognizes that small businesses make up the backbone of our community. They dream big, take risks and create value for their customers and their employees. As part of Gulf Power’s effort to support business, they have free resources and links to organizations located in Northwest Florida that can help you succeed.
● Okaloosa Virtual Incubator: The Economic Development Council of Okaloosa County (EDC) has created a new, on-line resource tailored to assist aspiring entrepreneurs, startups and small business owners.
If you’re looking for more resources outside of Northwest Florida and in the Southeast, make sure to check out buildinse.com.
Build In SE is an organization with a mission to increase the number of startup success stories in the Southeast by leveraging a cross-regional collaborative network.
Research Credit: Nour Shoucralla, University of West FL — Center for Entrepreneurship
