Tampa Bay Wave’s more than 670 portfolio companies have raised more than $2 billion since 2013, doubling their combined fundraising in less than two years as startups that passed through the Tampa nonprofit accelerator continued to pull in outside capital.
Wave crossed $1 billion in October 2024 after more than a decade of accelerator programs, then added the next $1 billion in roughly 23 months. The zero-equity accelerator — which connects founders with investors, mentors and business resources without taking an ownership stake — has worked with more than 670 startups through 45 programs spanning six industry sectors, producing 34 exits and more than 7,600 jobs along the way.
Those companies have raised an average of roughly $3.8 million each, according to Wave, which estimates its portfolio now generates about $450 million in annual economic impact. The accelerating fundraising comes as the Tampa organization has picked up more national attention, with TIME recently ranking Wave No. 3 among U.S. startup accelerators and No. 1 in Florida.
“Crossing the $2 billion mark is about far more than capital raised,” founder and CEO Linda Olson said. “It represents years of determination from founders, guidance from mentors, confidence from investors and the collective commitment of a community that knows innovation can thrive here in Tampa Bay.”
Wave — backed by federal grants and partners including Hillsborough and Pasco counties, the city of Tampa and the University of South Florida — also recently received additional funding from the U.S. Economic Development Administration to expand its work with high-growth entrepreneurs.