Influential startup accelerator announces USF partnership

Tampa Bay Wave is strengthening its tech influence across the bay.

Driving the news: The startup accelerator announced a partnership with the University of South Florida’s business school yesterday, laying the foundation for huge tech industry growth on both sides of the bridge.

Get market news worthy of your time with Axios Markets. Subscribe for free.

• The first cohort for the new FinTech|X Accelerator will be selected in 2022 and will focus on startups blending technology and financial services, like online banking, crypto and crowdfunding.

• Starting in mid-April, in-person programming and events will take place primarily on USF’s St. Petersburg campus during the 90-day accelerator.

Why it matters: After Forbes named Tampa the nation’s top tech city, St. Pete is getting its moment in the tech spotlight.

• ARK Investment Management just moved its headquarters to St. Pete and will create a business incubator expected to have a regional impact of $28 million and 1,265 direct and indirect jobs, per ilovetheburg..

Worth noting: After Wave ran its Cybertech accelerator last year, two companies — Refactr and Castle One — were acquired within four months after the end of the program, CEO and founder Linda Olson tells Axios.

• Wave worked with 161 companies last year, mostly in fintech, cybertech and health tech.

• Over the last four years, 85% of companies that have come through the program have been led by underrepresented founders, she says.

What they’re saying: J. P. DuBuque, head of the Greater St. Petersburg Area Economic Development Corporation, tells Axios the opportunity to bring Wave to St. Pete will make the Sunshine City unstoppable.

• “This partnership is another step in planting our flag as a place where entrepreneurs can grow and succeed.”

• “Don’t blink. You’ll miss it. We’re going fast and I can’t wait to see what the future looks like.”

More from Axios: Sign up to get the latest market trends with Axios Markets. Subscribe for free