Tampa Bay Wave was awarded $2 million for a three-year grant, from the United States Economic Development Administration.
The grant will support the Wave’s project, “Tampa Bay Cyber/Finance & Healthtech Accelerator Innovation Network” as part of EDA’s 2022 Build to Scale grants program, according to a statement.
The U.S. EDA awarded a total of 51 “Build to Scale” grants – totaling $47 million – to
organizations across the U.S. that support technology entrepreneurs, catalyze innovation and fuel economic growth while also fostering inclusive access to proven entrepreneurship support models.
With this new grant funding, the Wave will expand its programming by running nine 90-Day accelerator cohorts, specifically tailored for these industry verticals, supporting 180 new high-growth potential startups and fostering the creation & retention of 2,730 jobs, the statement said.
“These funds will enable Tampa Bay Wave to expand our programming and support for cybersecurity, fintech and health-tech startups, thereby helping foster the region’s national reputation for innovation and talent across these verticals,” said Linda Olson, chief executive officer of the Tampa Bay Wave, in the statement. “This project should not only help strengthen industry-driven innovation clusters in Tampa Bay but also lead to the creation of hundreds of new jobs in the region over the next 3 to 5 years.”