.. .F . Orange Cou nty :r: Board of Coun ty Commissioners FIRESPRI - - PowerPoint PPT Presentation

SLIDE 1

'f

f

Brtdqrng tht. f undtr'g Gap from lr novdt on o Growth

.. ·.F

.··

·:r:

FIRESPRING FUND

Orange Cou nty Board of County Commissioners

D

• n~

Mi1ckenz1e

ExeclltlveOuector

AiJt14125.291S

To build Orange County's technology and creative community by investing in promising companies.

Prov1dt> seed cap•tal to early stage technology compan1e~ t11at demonstrate Slyn1f1cant Q1owth potent1al wtth a brodd 1each of custorne15 Htgh growth h•ghtv scalable cornpan1e-:.

To increase access to capital for those promising companies and create a diverse technology ecosystem that reflects our community

Level the ptay1ng neld by prov1d1ng access to Cdpltat tor all member~ at our commun1ty

Brand Orange County as the center in the southeast for innovation and create an ecosystem for entrepreneurs, technologists and the creative class.

Invest m a portfofro of companres that wrlf create J Obs and weal t11 Build and strengthen the local angel and venture caprlal mvestment network Attract entrepreneurs and caprtat from outsrde the regron

• - --

SLIDE 2

"F

FireSpring is a · ·pay~it-forward" strategy where investments

• nto tech startups will be

returned to FireSpring Fund and then reinvested in the next generation. Continuous investment in new technologies and companies .

Evergreen seed funds are a community investment. They have provided substantial economic growth in their communities.

f f

FireSpring Fund (StarterCorps) was established April 2015 $500k US EOA grant + matching funds from community partners Objective: raise. deploy, manage $5M NFP evergreen fund over 2 years

Proven ~ustarnab!e model Entrepreneur fnendly nvestment Corwertrbte note

• Equrty upon follow-on

rnvestment

~ol1nw-

)n 'nvP.stment Economrc 'moact

.....

1 x Relurn y,.er ~years 000 IJ•reCI JObs ceated $241M Economrc benefit $8lM roHow on•nvestmerl!S Orstncts havf> opportunrtv to devel

suc:c~sfut

• mpanres

Oranqe County will have a sPat

• n the Board of Orrec t. ·s

lntelltrves to keep comoan·e~ here and grow here US f:. ,A gr <1nt and matct-> ,ng funds

• rovrde" adm1n•strat•ve supoort tt"

arse the fund 2 yearsi Kockoff fllndl3•srng tnr tile 1und july 1015 $1M byenrj of 2015 Invest rn l1rst group of startqls January 2016/ w•t'"~ accell:'r ~or

$600k• commrtted :llr )uqr

supporters EDA U• F Rollrns VC & Anqel groups EO( r:ily ot l1lando and •norp

..

• - ---

SLIDE 3

• f

$100,000 in 2015 to help fund first round of Starters in early 2016

8 lliQinq ti1c

r 1 dC

·~F: ..

r.

FIRESPRING FUND fT

. '

uy

n110•ven •nt OfTun..,n•ty oanners to prov•de

H1e

u~

• dat. :n ·or 'he tuna

f, ~· ~1~

l)r J! oartnt> Ship w1th

r iedJt:'IS 1\il l.l~ ::: !l'llfWeSI [d:lup~

noq,r 11 q Jan

.jf'V ;~ lvF•- 1

J11ty

Vdt ur t

..] 1 1V\·n

Backg round Information

D

• nna M

u kenz1e

Executlve D ireclor

"''IIII lUilS

SLIDE 4

f

f

lrgarrzed .35 NFF• Executrve Drrector Donna Mackenzre www frresprrngfundqrg donnarrutrresprrngfund oro

'07-399-5137

Matchrng Fund Partners ,ryofOr!ando

IJnivPr<;rtyof(f'ntralFlorrda Rollrn.:.Collt=;gl'

~.tarter

Studr l

!"at•.,.eViH<~Qf'

• :-ss. Fe(l'l<~ntl~l

&.RriE'V 1\ttorfl{'y Davrd M•t•.hpll Jones LanQ La5aiiP (,roup LM3

• mmunrtv .rowd fundor1q

Innovation Works P•ttsburgh Prnnsylvanra .rnded 199q

~

Actrvl? Comoan•es

i £x•ts

"- 0 n~ JObS ·reated

AveraQP rnvestf'lent $340k Jllow on rnvestment $1 58

1\llorney Jonathan l<rlman. Foley

~Lardner PA ~Plan•e Ft"fnandpz 'ro;~

Ff'rnandez 8. Rney

Board of Prrectors Or Thomas 0 NP'll A~&fXtal»

Vrcp PrPsidPnl vf RPsl'-arch & Commerc•ar,zatron. UCF

K11 c;top Chadw·r~ CEO NBIA Grpgg PoUark Foundt'r. StartPr

• Studio. CodPSchool. Envy

Lah!' Donna MackPnzrP ExP<utrvP Drrector Fr•t:-S.orri"Q Fund

~an

CJats Roll•n" Col.lPQt' (f'nterfor Advancf'd Entrepreneur<;htp Mochaf'l O'Donnell. E:w.e-cutrv" DrrE'ctor Floroda Anqt>l NP:o:us Ri·kWasc;t'l lOrlando.'Fionda Hoso•t:;~l 10

,

• .

·

jumps tart

• Cleveland. Ohro

Founded 2005

50 Acl•vP Companrec;,

14 Ex1!5 4 000+ robs ·~re;:lfert Average rnvestment $41 lk. Follow on mvestrn!'nt approachrng $18

:~., ~

• to~>

'Y "l :H' "" p oh ~ol\lf )toll)

• .•

OY!" ... ~ "I ( lu• .. !• ~lhf f' H ·I""('

• ~1

}1 )II<' I (.f

• .

't;>Mo

,, . ,,.I.IITo:)oKII

<n ·m• "'~

l,.1:lq r·q •f t J: Jr d ro 17aL' F

rorT " 1CNdt10r1 o r,owt•

·::·:F

·.· ·:r:

FlRESPRING FUND

Samples of Support Letters from Tech Community

12

D

• nn. Mackenzie

Executtve Director ~

• !S.lS
• --·-
• --- ----

SLIDE 5

J tf ! 'f' l

' I i 1 '

lt Hi P!il iliih

I! li!lii!ll! li IIIli II

l:j pii {ij Jl

~

'! till jllJi :wn

~ i I J ~;

t t

i!.

J t ~,

Jr i!f! :ll:l ''tT

ii llltllii!i 'It JjH fl

J:l ! IIi !.''Ill :ilj

m

• I ..

~ i

• • .It

1i! liPJ !I!!•L!J•

@

II p!r 'lfi! lhl,!

~

~

!ill1

,,1

!ij 1.h ~n

11

ij! Hil. n!i!! pi!

~

. H

ifil 1!·1! '•lflj

~

... li1H

'

II

:1 jil i

Ijl'filli• 1'li; !J l I

I t•lp ill'i'· ,til

I I

·i ~

!',··

l!! ~

1 'IiLii 11ih

'J''I

I

:~

1 1 i1 II' !jll, !jljd

i

l II ·fhi!•ljl! JIJ; fll[ lj

}li

1ljli I·'

ljli ''''I !' ' ji l!,l

'

1 J. J; 1 II lr t 11 f , I· ·I~

!jjij •filtH l!!ij i

J!il

J 1_.,.

I I

l ill HIIIIHIH i!llllfll ill J

I

.~

1 , 'rl

it}ll!

!q I '· IJ·t,ll Ill' I' 1!

1

1 I jl l)l :l;jlt

Jll'

I

!ll lil1j! iiPtll h,!; ll! J!

. ! j, t 11 1dj :If 1, it. ni I lljff

i!

IIJIJ"IJ·'·l·ll h·JI 1~'1

Ji ! IN ' •I

'~

1

,,,,!, mm

!i 1

• 11. .11.1 ut,J.r H11 !1!1111

, I _ t.d

!!.I

SLIDE 6