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$390,000 Grant to Help Local Technology Community

Published: July 24, 2002
The University of Tampa’s Sykes College of Business has been awarded an unprecedented fourth Title VI-B U.S. Department of Education grant starting July.  The grant is valued at nearly $390,000, including $170,000 in federal money and matching support over its two-year life.

The grant, titled "Project Innovate," has three major objectives:  


First, it will improve UT faculty and student knowledge and skills regarding technology entrepreneurship so they can better serve the local technology community.


Second, the project will create a resource center within TechVillage Tampa Bay that the area’s young technology start-ups can utilize.  A series of workshops and seminars also will be offered, including a conference on September 27.  It will convene technology incubators, entrepreneurship academics, and the professional community from across Florida and internationally to explore start-up company issues and to showcase young incubator companies.


Third, the grant will help create an international "soft landing" network of technology-based incubators that will support each other’s young companies as they enter their respective markets.


"Much too often," says Dr. Hemant Rustogi, project director, "young technology companies lack the sophistication and resources of larger companies that enter international markets.  Young companies need help making those first key connections and accessing affordable resources, and a local incubator that is part of our network can help provide those.  We will do the same for their young companies."


Dr. Michael Truscott, co-director, said, "So far we have formal soft landing network agreements in place with programs in Manchester, England; Zurich, Switzerland; Rio de Janeiro, Brazil; and Monterrey, Mexico, and we will be exploring additional opportunities over the next year.  Representatives from those programs will attend our September event."


"We are thrilled with this fourth grant," adds Dean Joseph McCann.  "This makes more than $1.5 million in federal and matching funds received by UT for international business education purposes over the past eight years.  This is a big project and our goal is to actively work with others to succeed, including collaborating with USF’s Center for Entrepreneurship to give Project Innovate even more impact."


For more information, contact the Office of Public Information at