The St. Petersburg Downtown Partnership’s Technology Fund targets seed-stage, pre-venture investment opportunities at companies based on technology and is designed to be a perennial fund. In exchange for investments that typically range between $10,000 to $20,000, the Partnership receives an ownership stake in the company. If profits are realized, the money is returned to the Technology Fund to provide more resources for additional investments.
In determining whether to invest in a start-up, the Partnership’s board considers the following criteria:
1. The business must be technology based and have the potential to create measurable economic value to the City of St. Petersburg and to the Partnership.
2. The business must have a clearly articulated business plan and the resources and capability to facilitate (including metrics).
3. The business should have personnel employed full time who are committed to the business and demonstrate integrity, passion and creativity and have a record of high achievement.
4. The business must have a proprietary advantage such as a unique technology, unique intellectual property or difficult to replicate business model, i.e., well identified barrier to entry.
5. The business should show rapid growth and strong potential for sustained dominant market position.
6. The business should create full time jobs in St. Petersburg commensurate with grant investment funding with annual salaries exceeding the average annual salary in Pinellas County.
7. The business must show credit worthiness and a willingness to invest in St. Petersburg office/facilities.
8. The business should show synergy with resident (technology-based) businesses in St. Petersburg.
Interested in applying to the Downtown Partnership's Technology Fund? Please fill out the form below and we'll be in touch.