Since April 2006, the Orlando City Council has approved funding agreements between the City of Orlando and the University of Central Florida Research Foundation (UCFRF) to support the UCF Business Incubation Program (UCFBIP). The relationship between the City and UCFRF for the creation of a business incubator provides infrastructure and support to local entrepreneurs to increase their potential for creating and growing successful companies in our community. 

Since its inception in 1999, the UCFBIP has helped hundreds of local startup companies (including more than 120 current clients and over 145 graduates) reach their potential faster by providing vital business development resources.  From October 1999 to June 2014, the UCF network of current and graduated clients has helped create a total regional output of over $2.48 billion resulting in a $7.95 return for every $1.00 invested in the program while sustaining (directly and indirectly) over 3,600 jobs in the Central Florida region.  The Incubation Program has seven (7) locations throughout Central Florida.  In May 2015, the program was designated as a Soft Landing International Incubator by the National Business Incubation Association.

The City's contribution of $300,000 will assist the UCFBIP in providing early-stage and relocating companies with the guidance and resources needed to become financially sustainable.

Approval of the 2016-2017 UCF Business Incubation Program Funding Agreement and authorization for the Mayor to execute the funding agreement, subject to the review and approval by the City Attorney's Office.