The state’s aerospace business agency wants to award $100,000 to an early-stage company doing business in the Sunshine State.
Space Florida and Florida Venture Forum, a group of statewide investors, are reviewing applications for the second annual Florida Aerospace Capital Conference.
If selected, early-stage aerospace companies will get the chance later this year to present in front of investors and win the $100,000 award offered by Space Florida.
While it might not seem like a lot, the award money could be a big break for a new startup. "At the very early stage it can literally make the difference between life and death for a growing company,” said Florida Venture Forum President and CEO Kevin Burgoyne.
More successful early-stage companies in the aerospace industry will attract more investors to the state, spinning off more opportunities to grow the industry.
"That’s why early-stage funding is particularly important for any growing ecosystem," said Burgoyne. "We’re seeing the benefits of that as the venture capital landscape continues to grow in Florida.”
The competition is open to early-stage companies in the aerospace industry based in Florida or firms with plans to relocate operations to the Sunshine State.
Invited companies will present to investors at a November forum in Lake Nona, Florida.
Sensatek Propulsion Technologies, Inc. of Daytona Beach was a winner at the 2018 Florida Aerospace Capital Forum. The award money went to build prototypes and help secure additional seed money for the company.
“Our first Florida Aerospace Capital Forum was tremendously successful in helping to expand not only the capital community but also further develop our State’s thriving aerospace industry," said Space Florida President and CEO Frank DiBello.
