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Jan. 18, 2024

Spartan Startups

This article first appeared in the Winter 2023 issue of the UT Journal.

Shop, Play, Live and Give with the Spartan Accelerator and Incubator Programs

By Holly Neumann

It’s no secret that most new businesses fail.

Almost anything can be to blame: lack of research, planning, teamwork, mentorship, investors, organizational know-how, or even actual, physical space. The list of lacks can be overwhelming for a business owner, especially those in their first go-round. More companies sink than swim, and often, innovative ideas never get off the beach in the first place.

UT’s Spartan Accelerator and Spartan Incubator are tackling these challenges of entrepreneurship with entrepreneurship itself.

“An entrepreneurial mindset asks, What is a problem that needs to be solved, and how can I solve the problem?” explained Rebecca White, the James W. Walter Distinguished Chair of Entrepreneurship and director of the John P. Lowth Entrepreneurship Center, which sponsors the Accelerator for students and the Incubator for members of the Tampa Bay community who have or want to start a new business.

Students and local business owners who are accepted into the programs have access to UT’s resources, networks, education, programming, and, yes, even offices and a conference room in the Lowth Center on the eighth floor of the Daly Innovation and Collaboration Building.

Any UT student with a business idea, regardless of major, can apply to be part of the Accelerator. Incubator companies tend to be more mature but are still early-stage startups. While all the companies have something in common by being new to the market, all types of businesses are welcome to apply. The resulting diversity makes the Accelerator and Incubator the place for Spartan supporters to shop, play, live and give.

Some companies have a product to sell, like recent Accelerator grad CoolCat Cooler. Others offer services like podcast and book coaching from Left for Dead Inc. or specialty lacrosse lessons from Premier Player Development, both current Incubator companies. There is even a nonprofit to get behind, the Little Saint Nick Foundation, which has been part of both the Accelerator and Incubator.

Bert Seither M.S. ’19, manager of operations of the Lowth Center, says it’s common to see students working in the Accelerator for 15-20 hours a week (10 hours are required to be part of the program). For Incubator businesses, the program is a full-time job, creating a tight-knit cohort of peers, some, but not all of whom, are UT alums.

“It really helps lift you up because you know you’re not alone,” Seither said. “We’ve got nine people back in that room, so if you’re working on a thing and you get stuck, you just say, ‘Hey, has anybody done this before?’ rather than spending two days figuring it out.”

On top of the hive mind, program participants are paired with experienced entrepreneurs who volunteer to be mentors. There are guest speakers, workshops and a structured skills curriculum centered around White’s book, See, Do, Repeat: The Practice of Entrepreneurship. Participants study concepts like opportunity, optimism, problem-solving, confidence and fear of failure.

More specifically, they are taught how to raise money, and they receive regular feedback from an advisory board, so they can learn what it’s like to work within that type of corporate structure. Workshops might focus on taxes, trademarks or legal topics like intellectual property statutes.

“Our core focus of both programs is the educational aspect,” said Josh Ray, a lecturer in UT’s entrepreneurship academic program and the Lowth Center’s new venture advisor overseeing both programs. “Because we’re an educational institution, we want to stay in our lane and do what we do best.”

There are 15 businesses currently in the Incubator and about 40 in the Accelerator. Ray said three things stand out on an application to the programs: evidence of coachability; whether someone is ready to be part of a collaborative community; and, for Incubator applicants, whether they have something ready to sell.

The Incubator program has a defined application period, but students can apply to the Accelerator whenever a good idea strikes. Ray tells students that it’s easy to get in the program, but it’s hard to stay there. The Accelerator is self-driven and purely extracurricular, so students must be focused and committed to wholly benefit.

“Our goal is to have students grow from year one to year two, year two to year three, year three to year four,” Ray said.

“Traditional accelerators usually are trying to drive that accelerated growth of a startup. Ours is trying to drive that growth of the student mindset, the entrepreneurial mindset.”

Seither says this educational priority sets the Spartan Accelerator and Spartan Incubator ahead of other, seemingly similar startup programs. Plus, the UT programs don’t charge a fee to participants, and many others do. The Incubator, in particular, with its collection of community-based businesses, is UT’s “giveback to the local entrepreneurial ecosystem,” Seither said.

Participants, too, describe a culture of generosity. “The willingness of the advisory board, faculty and alumni to assist in the growth of emerging business … is unsurpassed,” said Max Rizzo ’22, M.S. ’23, the co-owner of CoolCat Cooler.

The Accelerator and Incubator are in their eighth year of programming, and dozens of UT entrepreneurs have emerged prepared to beat the odds. A sample of current participants and recent grads is featured here.