2019 Research Park Report to the Community

2019 Report to the

Community

RESEARCH PARK AT FAU

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The Research Park at FAU is grateful for the continued support and investment of the Palm Beach County Board of County Commissioners.

Dear Friends of the Research Park at FAU The one thing that time has proven is that change is constant. This past year reflects that. Through years of hard work, our companies produced breathtaking success and growth. Our more seasoned companies relocated from Research Park into other facilities in the region, allowing the opportunity for the next group of innovative and research-oriented companies to be nurtured.

We celebrate the continuing impact of all our companies on the South Florida region and embrace the challenge of beginning a new cycle.

Take a look at the numbers highlighted on the next page, which indicate the impact and growth to come in the years ahead. More than $8 million in privately funded research and development and 12 new patents and applications in 2019 alone.

The strength and contributions of the companies within Research Park are paralleled by the growth of the research portfolio of the university which will, in turn, contribute to a new substantial recruitment and partnership in the research park.

We very much look forward to 2020’s activity and appreciate your interest.

Bob Swindell

Andrew Duffell

Chairman

President RESEARCH PARK AT FAU

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2019 Research Park at FAU METRICS

$375M ANNUAL

REVENUES

127 PROJECTED

AVERAGE

25 34

C O M PA N Y S I Z E

2020 NEW JOBS

5 PATENT 34 FAU

NUMBER OF

COMPANIES

APPLICATIONS FILED

INTERNS

$11.4M

$8.6M

INVESTMENT

FULL TIME EMPLOYEES

CAPITAL RAISED

R&D

BUDGET

7 4

843

NEW

PATENTS

ISSUED

2019 REPORT TO THE COMMUNITY

51 FAU ALUMNI

$60,816 AVERAGE

SALARY

Our Mission The mission of Research Park at FAU is to promote scientific research and development in affiliation with Florida Atlantic University, to foster economic development and to broaden the economic base of Broward and Palm Beach counties.

Our staff strives to achieve this mission by connecting our entrepreneurs at Research Park to the faculty and students at FAU and by helping forge new relationships and collaborations, so that new ideas and discoveries can be translated to the marketplace, adding value to our economy.

The relationships we help develop between FAU, South Florida and the Research Park companies deepen each year. Those links help guarantee that the innovation, growth and drive in the South Florida market will continue for years to come.

RESEARCH PARK AT FAU

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Student Success

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2019 REPORT TO THE COMMUNITY

About the Research Park at FAU Established in 1985, Research Park at FAU is widely regarded as South Florida’s laboratory for new entrepreneurial ideas and technologies. Research Park is governed by the Florida Atlantic Research and Development Authority, an independent special district created by Florida Atlantic University in partnership with Palm Beach and Broward counties, organized under Chapter 159, Part V, Florida Statutes.

A 70-acre destination for research and development companies to thrive, Research Park hosts FAU Tech Runway, a South Florida public-private partnership that serves as a hub to accelerate technology development and incubate startup companies.

A research park is a special economic development asset for any region. The Association of University Research Parks (AURP) defines a university research park as a property-based venture, which: • Master plans property designed for research and commercialization • Creates partnerships with universities and research institutions • Encourages the growth of new companies • Translates technology • Drives technology-led economic development RESEARCH PARK AT FAU

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2019 Florida Atlantic Research and Development Authority Members Palm Beach and Broward counties’ boards of county commissioners each appoint three members to the Authority and the president of Florida Atlantic University, or the president’s designee, is an ex officio member, as established by state statute and county ordinances.

Daniel Flynn

University Designee

Bob Swindell

Broward County, Chairman

Francis Salazar Broward County

Michael Allison Broward County

Michael Daszkal

Palm Beach County

Bruce Rosetto

Palm Beach County

Fred Yentz

Palm Beach County

Success Stories PQSecure Technologies, a FAU Tech Runway Venture Class 5 company, was awarded the National Science Foundation Small Business Innovation Research Phase II award of more than $748,000. They received this grant after spending two years working on the commercialization of post-quantum cryptography in resource-constrained devices.

The company expects to be product-ready by the end of the award, which coincides with the ongoing Nation Institute of Standards and Technology Post-Quantum Standardization Process. The current goal is to elicit the attention of angel investors and venture capital to begin ramping up our marketing and sales efforts while making the market aware of this impending threat.

Continuing its long collaboration with the Museum of Discovery and Science in Fort Lauderdale, FL, Research Park at FAU-based software developer Daruma Tech is working again with moderators to create “Panther Prowl,” an augmented reality app.

The app lets museum visitors engage in a virtual scavenger hunt for images of the endangered Florida Panther hidden

through the museum. When app users find and point their phones at these “targets,” they will be treated to the sight of the images coming to life on their phones.

DECORA, founded in Brazil in 2012, moved into the Research Park at FAU in 2015 to expand its offerings to US retailers. In 2017, DECORA was selected to participate in the Research Park at FAU sponsored Strategic Research Program.

The Strategic Research program is selfdirected and gives entrepreneurs access to a “toolbox” of training and tangible resources based on the program framework surrounding: core strategy, marketing dynamics, temperament, innovation and qualified sales leads. Companies in this program are provided with a team of specialized research professionals that act as staff to the companies and focus their research based on the entrepreneurs and/ or management teams’ direction. The data provided by the Strategic Research team validated the investors’ decision to invest in Decora. Recently, Decora completed a merging acquisition potentially worth approximately $100M.

Notes

3651 FAU Boulevard Suite 400, Boca Raton, FL 33431 561.416.6092 www.research-park.org

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2019 REPORT TO THE COMMUNITY