Entrepreneurial Overview

Urban, suburban, or rural – it makes no difference, the culture of embracing entrepreneurship and fostering innovation is pervasive throughout Northwest Florida. Although the region may be known for its miles of sugar-white sand beaches and its southern hospitality mixed with a very dynamic tourism industry, Northwest Florida’s real strength is in its ability to innovate, collaborate, and transform technologies. Between nationally-recognized research institutions, national defense laboratories, and a young, techie-based population, leading-edge products are being developed with public/private sector partnerships providing support all along the innovation pipeline. From leading technologies in renewable energy, to software, hardware, and new materials developed for the medical technologies and aerospace industries, to autonomous unmanned vehicles and their operating systems, applied research and development is leading to commercialization across a number of disciplines.

Florida’s business climate supports entrepreneurship. For example, Florida has repealed its intangibles tax. There is no personal state income tax which translates to no state corporate income tax on LLCs, S-corporations, partnerships, or sole proprietorships. Florida provides tax exemptions on research and development (R&D) equipment. Essentially, the friendly Florida business climate creates a safe haven for innovation and commercialization.

Northwest Florida is working hard to create an environment that attracts new jobs and businesses, retains, attracts, and educates the kinds of workers needed in the knowledge-based economy, and builds a platform for innovation and entrepreneurship, all encompassed in a uniquely positive quality of life.

The entrepreneurial focus of Florida’s Great Northwest is on bringing new technology to the market as well as supporting research and development activities across the region and within target industries. A key strategy in Florida’s Great Northwest regional economic development plan is to support the growth of locally-founded target industry businesses. Current efforts in supporting entrepreneurial development include the formation of an Entrepreneurship Advisory Council tasked with identifying the spectrum of needs to assist entrepreneurs, plus an analysis of the status of the region. An asset map of available entrepreneurial aid will be created and Florida’s Great Northwest and its partners will provide outreach to high-growth entrepreneurial enterprises to advise all of the region’s support services.

Northwest Florida encompasses an emergent entrepreneurial network offering numerous resources within the region, as listed below:

Organizational Resources

The National Business Information Clearinghouse (BIC) provides critical business information on access to capital, equal access to markets, and management training to support the startup and growth of businesses throughout the U.S. BIC serves as a pivotal business information hub that addresses the core issues confronting entrepreneurs by offering timely access to local, regional, and national business programs and resources. This service is being provided by BIC to Northwest Florida as one of two pilot demonstration projects via a grant funded by the U.S. Department of Labor.

	Bay	Jefferson
	Calhoun	Leon
	Escambia	Liberty
	Franklin	Okaloosa
	Gadsden	Santa Rosa
	Gulf	Wakulla
	Holmes	Walton
	Jackson	Washington

iTen Wired: iTen Wired was initiated by the Pensacola Bay Area Chamber of Commerce in concert with its regional economic development partners in Santa Rosa, Okaloosa, Mobile and Baldwin counties. The primary goal of iTen Wired is to remain competitive in the global economy by embracing entrepreneurial innovation across our region. This effort is accomplished in concert with five economic development partners: The Pensacola Bay Area Chamber of Commerce, TEAM Santa Rosa, Okaloosa County EDC, the Mobile Area Chamber of Commerce, and the Baldwin County Economic Development Alliance.

Vision 2020: Vision 2020 is an early-stage venture capital firm committed to fostering innovation by actively assisting entrepreneurs in life science, technology and technology-enabled businesses as well as high-tech manufacturing sectors.

Small Business Development Centers
U.S. Small Business Administration
University of West Florida SBDC
University of West Florida SBDC at Fort Walton Beach
Gulf Coast Community College SBDC
SBDC at FAMU

Business Incubators
Bay County Small Business Incubator
Tallahassee Innovation Park

Technology Transfer Programs & Offices of Research
Florida Agricultural and Mechanical University - Office of Technology Transfer
Florida State University - Office of IP Development and Commercialization
University of West Florida - Office of Research and Graduate Studies