While the innovation may be there, Orlando has admittedly been a bit more discombobulated when it comes to bridging the divides that tend to arise in startups and incubators in the tech world.
"We haven't had as coherent of an ecosystem as Tampa," Dennis R. Pape, managing director at Orlando accelerator Catalyst, said. "We haven't had as much involvement as from what I've observed in Tampa from people like (Tampa Bay Lightning owner) Jeff Vinik or Florida Funders."
Enter Seedfunders, an organization that brings a multitude of investors together to focus specifically on early-stage, pre-revenue tech startups. The organization will be officially announced Tuesday night at a demo day for Catalyst.
"I believe this is a step in that direction," Pape said. "To energizing that community by attracting investors, particularly ones that haven't been heretofore involved in tech investing."
While there is currently a Seedfunders Tampa, the Orlando group will not be an offshoot and instead an entirely new group of investors, which will all be based in Orlando.
"Everyone says 'We need to have this,' but no one goes and does it," David Chitester, Seedfunders' founder, said. "So we’re going to go and do it."
Since the organization has not officially been announced, there are no investors, but Pape and Chitester said the interest has been high.
While Seedfunders focus on startups from across Florida as well as in their respective cities, the Tampa and Orlando groups could work together in the future, according to Chitester.
"The two entities can cross invest, but there's no agreement to do that and no requirement," Chitester said. "It should increase deal flow but each deal is independent."
Tampa Seedfunders has 29 investors and in its two years, has done 10 deals. Pape is shooting for similar numbers in Orlando.
Pape added he's hopeful this will be the catalyst of a shift away from the typical real estate investment that has long dominated the Sunshine State and show the possibilities the tech world can offer.
"There’s a large number of accredited investors in Florida — we’re the fourth highest in the nation," he said. "But only a very tiny percentage are participating in tech investment. Orlando is dominated by hospitality real estate, so anything we can do to energize that in tech that makes it a systematic change and easier to do so is definitely needed."
