Local startup hub launches University Partnership Program

The University of South Florida annually ranks among the nation’s leaders for producing new patents. However, that intellectual property (IP) rarely generates revenue for the school or its students.

Embarc Collective plans to address that issue through its nascent University Partnership Program. USF is the first to join the startup hub’s statewide initiative that bridges academic innovation with the local entrepreneurial ecosystem.

USF-affiliated startups, including those in St. Petersburg, now have access to Embarc’s suite of founder support services. CEO Tim Holcomb noted that many preeminent research universities are “missing revenue opportunities that come with the commercialization of their technology.”

“Industry-wide numbers – 90% to 95% of their IP sits on the shelf,” Holcomb said. “When you look at royalties that can be monetized and generated for USF, that’s a significant number.”

USF has ranked among the nation’s top 20 public research universities for producing new utility patents for 12 consecutive years. The school secured 82 in 2024.

For example, an associate professor discovered that fungi harvested from mangroves can combat tuberculosis more effectively than currently prescribed antibiotics. Another developed artificial intelligence that monitors the quality and safety of refrigerated produce in real-time during shipping.

In 2021, USF received 111 patents, 187 disclosures and 98 licensing agreements across its three campuses. Photo courtesy of usf.edu.

University Partnership Program (UPP) participants receive access to on-demand coaching, a nationwide investor network and resources to transform their research into market-ready products. Embarc will offer students and faculty the same strategic guidance and connectivity that has fostered over 1,200 high-paying tech jobs in the past six years.

In a prepared statement, USF president Rhea Law called it an “important time for higher education in America.” She said institutions must be “bold and intentional about how we contribute to our communities and fuel our economy.”

“This is more than just connecting the dots – it’s the next essential step for how universities must evolve,” Law said. “By deepening our partnership with Embarc Collective – and with my joining its board of directors – we’re creating more direct pathways for students and faculty to turn ideas into impact and participate in Tampa Bay’s growing innovation ecosystem.”

Holcomb noted Embarc launched a related Corporate Partnership Program in April to bolster connectivity between early-stage startups, corporations and investors. The university initiative will complete a burgeoning talent pipeline.

Embarc Collective CEO Tim Holcomb.

The University Partnership Program also builds on Embarc’s recent collaboration with the Genspiration Foundation, which offers USF students paid internships at “growth companies.” Holcomb, who has spent 17 years working in higher education, said he is as excited for the new initiatives “as I’ve been about anything we’ve been doing beyond our work directly with the startup community.”

“I’m a big believer in practice-based, immersive learning … No one ever learned how to start a company by reading a book,” he added.

Holcomb expects the new programs to provide additional landing spots for students who may otherwise take their expertise and intellectual property elsewhere. While the initiatives should also help attract new talent, he noted Tampa Bay is already among the nation’s top 20 metro areas for tech professionals.

“I hear a lot of chatter about, ‘Hey, we don’t have enough technology people,’” Holcomb continued. “That’s just flat-out not true.”

Embarc has discussed the program with other local colleges and plans a statewide expansion. However, Holcomb said some schools have yet to realize the importance of bridging the gap between academia and industry.

He explained that it will also take time for some institutions to realize Embarc’s value proposition. The nonprofit charges participants $249 monthly and offers scholarships to qualified students.

Holcomb called the program a two-way street. “We’re asking for a financial commitment, but we’re also providing opportunities for students, faculty, researchers and university-affiliated startups,” he said.

Holcomb noted Embarc startups boast a 96% survival rate over five years and have raised over $600 million in capital. The 1,200 jobs members have created generate about $100 million in annual salaries.

Over half of the money raised came from investors outside of the state. Holcomb said roughly $350 million has flowed into Florida, “a good indicator of the ability to activate and expand.”

“I also want to highlight the fact that each of St. Pete, Clearwater and Tampa benefits as well, in terms of creating the capacity and demand to … elevate the economic opportunities for our community,” he said.