Embry-Riddle Invests $1 Million In Tech Startup Accelerator
The Daytona Beach aeronautical university Embry-Riddle is giving $1 million to FireSpring Fund, a non-profit tech-company accelerator, to help develop a research park on the campus.
FireSpring Fund helps young tech companies start, grow and stay in Central Florida. It will take applications from companies later this month, and offer initial investments of $25,000 with additional funding support up to $250,000.
Embry-Riddle’s Senior Vice President of Administration Rodney Cruise hopes the investment will help build the research park’s ecosystem.
“Two of the keys is talent is access to talent and capital,” said Cruise. “This million dollars provides the access to capital, we already have the talent.”
The research park near Embry Riddle hosts collaborative work spaces, tech labs and support services to help tech companies thrive in Volusia County.
The cornerstone building of the park, called the MicaPlex, will house business mentors for the FireSpring recipients.