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UCF Business Incubation Program Expands to Lake County

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Eustis, Fla. (October 4, 2023) – Economic development in Lake County took a giant step forward today with the opening of a new center focusing on providing businesses with multiple layers of support in downtown Eustis.

The UCF Business Incubation Program provides a significant number of services to businesses, including coaching on business growth strategies, mentoring, education,
leadership training, and guidance on help with critical functions, such as accounting, legal, marketing and public relations. In addition, the Florida Small Business Development Center at UCF has established an office at MEGA Workspace to work collaboratively with the Incubation Program in serving entrepreneurs.
 
“This center, which brings UCF’s business assistance programs to Lake County, is a
significant step forward to helping our business community grow and reach their full
potential,” says Kathleen Dial, economic development director, Lake County
Government. “Our focus is on investing in services and programs that help our
entrepreneurs thrive.”
 
The UCF Business Incubation Program has graduated more than 400 businesses throughout Central Florida over more than two decades. In 2022, the current incubator clients were responsible for more than 1,200 jobs and $120 million in revenue.
 
The Business Incubator in Eustis is the ninth location in the program and joins the other locations in Daytona Beach, Downtown Orlando, East Orlando, Kissimmee, Lake Nona, Central Florida Research Park, UCF Main Campus and Winter Springs.
 
“It’s impressive the commitment Lake County and Eustis are showing toward economic development over the past few years and we’re looking forward to being a part of future growth of this part of our UCF service area,” says Rob Panepinto, director, innovation districts strategy and partnerships and senior strategic advisor, Partnerships and Innovation, University of Central Florida. “We’re already seeing interest in this program from many local entrepreneurs who could have a significant impact on the future of Lake County and our region.”
 
This will be the ninth office of the Florida Small Business Development Center at UCF in its eight county Central Florida region, providing one-on-one coaching and other resources to small business owners.
 
“This type of center, with multiple organizations and services under one roof, has shown to be very beneficial to businesses, particularly the small businesses we work with,” says Eunice Choi, regional director, Florida Small Business Development Center at UCF. “We are already co-located with the Incubation Program in Orange, Osceola and Seminole counties.  We have an office in South Lake County and are looking forward to better serving businesses in North Lake County along with the Incubation Program.”
 
A key to bringing the incubator and SBDC to Lake County and Eustis was the relationship between MEGA Properties and the City of Eustis. The two have been working together to revitalize the downtown Eustis center.
 
Already filled with quaint shops and great restaurants, the two are working to fill the area with local businesses and their employees.
 
“This 100-year-old building is destined to become the center piece of downtown Eustis, an iconic piece of the past transforming the future,” says George Asbate, president, MEGA Properties. “We designed this to be more than just an office building.  It’s a gathering place for entrepreneurs.”
 
The UCF Business Incubator and Florida Small Business Development Center at UCF are located on the bottom floor of the building which includes shared common space, reception desk and conference rooms. MEGA Workspace has private office space and shared open desk space for lease by companies.
 
The upstairs is being used as an event space. For instance, the national entrepreneurship group, 1 Million Cups, is holding weekly gatherings for businesses to showcase their companies to local leaders and receive helpful feedback.
 
Other organizations and events will be added as needed in the future.
 
“This forward-looking partnership between Eustis, Lake County, UCF, and Mega Workspace will empower and enhance business development within and beyond our community by providing information, resources, education, and access that will help build strong businesses, create jobs, and grow our economy,” says Eustis Mayor Michael Holland.
 
Companies interested in applying for the UCF Business Incubator in Eustis can visit Incubator.UCF.edu.  Companies interested in meeting with the UCF Small Business Development Center can learn more by visiting SBDCOrlando.com.
 
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About the UCF Business Incubation Program: The University of Central Florida Business Incubation Program is a community resource that provides early-stage companies with the tools, training and infrastructure to become financially stable, high growth/impact enterprises. Since 1999, this award-winning program has provided vital business development resources resulting in over 300 local startup companies reaching their potential faster and graduating into the community where they continue to grow and positively impact the local economy.
 
With nine facilities throughout the region, the UCF Business Incubation Program is an economic development partnership between the University of Central Florida, the Corridor, Lake, Orange, Osceola, Seminole and Volusia Counties, and the cities of Eustis, Kissimmee, Orlando and Winter Springs. In 2022, current incubator clients supported over 1200 employees and generated over $120 million in revenue.  Nineteen companies graduated from the program and remained in the local community. For more information, visit  www.incubator.ucf.edu.
 
About Mega Properties: MEGA WORKPLACE is honored to collaborate with UCF and SBDC in creating an office work environment to foster business development. Whether you’re a team of one, a growing startup, or an established company— Mega Workplace has the flexible workplace solution for all the ways you and your team like to work. We offer virtual offices, open and dedicated desks and executive office suites.  MEGA Workplace is the hub for entrepreneurial success in North Lake County.
 
About Lake County’s Office of Elevate Lake: The Lake County Office of Elevate Lake is an office of the Lake County Board of County Commissioners. With a mission to aggressively retain, attract and grow jobs in Lake County, the office relentlessly focuses on being the most proactive County in Florida for economic development and business friendly practices. Its
professional staff is dedicated to providing excellent service and support for businesses of any size and across all industries.
 
About City of Eustis: The City of Eustis, is a family friendly community located in Lake County, Florida. It is widely known for its historic downtown district, idyllic waterfront setting, waterfront park and recreational activities such as boating, fishing, and kayaking. The city hosts over 25 events throughout the year, including concerts, plays, comedy shows, festivals and signature community events. With a population of 24,000, Eustis is the third-largest city in Lake County.
 
About the UCF Florida Small Business Development Center at UCF (FSBDC at UCF):  Hosted by the University of Central Florida (UCF), and with its main office in the National Entrepreneur Center located at the Fashion Square Mall in Orlando, the Florida Small Business Development Center at the University of Central Florida (FSBDC at UCF) is part of part of UCF’s Office of the President and the Florida SBDC Network.
 
The Florida SBDC at UCF provides aspiring and existing small businesses with no-cost consulting, low-cost training, and access to business data and research resources. In addition to its core service offering, the Florida SBDC at UCF also offers specialized services to qualifying companies, including capital access, market growth, government contracting, international trade, business continuation, cybersecurity, disaster planning and recovery, and more. The FSBDC at UCF serves an eight-county area that includes Brevard, Flagler, Lake, Orange, Osceola, Seminole, Sumter, and Volusia counties and maintains 9 service centers across Central Florida.
 
In 2022, the FSBDC at UCF served more than 2,700 entrepreneurs in Central Florida with consulting services, resulting in more than 10,600 jobs created, retained or saved; $793.9 million in sales growth; $66.7 million in capital formation; $103.8 million in government contract awards; and 160 new businesses started. For more information, please visit http://www.sbdcorlando.com

UCF Business Incubation Program Expands to Lake County

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