UCF Business Incubation Program to Expand to Leesburg, St. Cloud

April 29, 2009 - PRLog -- Dr. Tom O'Neal, associate vice president for the University's Department of Research & Commercialization and executive director of the UCF Business Incubation Program, said he expects to open operations in St. Cloud and Leesburg by next spring.

Currently, the UCF Business Incubation Program operates two facilities near the University of Central Florida campus in Research Park, and three more - on Orange Ave. in downtown Orlando, in east Orlando on East Colonial and in Winter Springs at S.R. 434 and the 417.

"Effective incubation programs have proved to be the most cost efficient ways to stimulate local economic growth," O'Neal explained.

O'Neal, who founded the UCF Business Incubation Program and ranks as one of the leading U.S. experts on business incubators, said successful incubation programs offer several common characteristics including: stable, sustainable program funding; a strong market position; entrepreneurial management; affiliation with a major research institution; a blue-ribbon board of directors or advisors; the ability to attract quality client companies; a strong client screening process; measurable goals and objectives; strong value-added services; and access to investment capital and community partnerships.

For more information contact:
Tom O'Neal. Ph.D, UCF Associate Vice President for Research and Commercialization and Incubation Program Executive Director, 407-882-1120, oneal@mail.ucf.edu
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 Lvershelco@aol.com

About the UCF Incubation Program:
Since its founding in 1999, the UCF Incubation Program has helped more than 100 emerging companies (including nearly 70 current clients) create over $500 million in annual revenue and more than 900 new jobs with an average salary of $59,000. With five facilities across the metro Orlando community, the Incubation Program is a collaboration in economic development between UCF, Orange County, the City of Orlando, Seminole County, the City of Winter Springs, and the Florida High Tech Corridor Council.  For more information, please visit http://www.incubator.ucf.edu.