Maddux Report - Tampa Bay's Business, Finance and Development Magazine

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USF Incubator Hatches
It's been a long time coming, but last month, the University of South Florida finally took the covers off its new Center for Entrepreneurship, a "technology transfer" facility that is intended to assist bright new high tech startup companies get legs on the ground. Its three fold mission also includes assisting economic development in the Tampa Bay region "by joining with other institutions, both public and private, to create or support the launch of new technology companies in the area," says Wayne Brass, a former Verizon executive who heads up the center's incubator arm.

Though it is a part of the university, the center has its own building, off campus at Telecom Park, near the intersection of Interstate 75 and Fletcher Avenue in Tampa. It boasts 11,000 square feet of space and provides basic services such as business plan preparation, plan review, market research and yes, even fax, copy machines and state-of-the-art board meeting rooms capable of handling video conferences.

It is the fruit of an idea spawned in the mid-1980s. "That's how far back this goes," says Brass. Back then, Michael Kovac, Bob Anderson, Brass and even the publisher of this magazine met four years ago to figure out how to launch a forum for transferring technology research done at USF. The idea was to put research into the hands of enterprise where it could thrive and become a sound part of the economic stability for the region. USF President Judy Genshaft, who verbally cut the ribbon, called it "a new day in technology transfer." Brass says the incubator will emphasize technologies that are aligned with the research and expertise of the university or new uses of technology in the fields of communications, Internet infrastructure, computing and life sciences.

Three startups now call the center home: Medegy, a healthcare information management company that does complex database mining for its field; Saneron CCEL Therapeutics Inc., a biotechnology operation that develops stem cell technology; and Modelithics Inc., which develops computer modeling for radio frequency and microwave components such as those used for semiconductor development.

Michael Fountain, Ph.D., was named director. Fountain has focused on creating, financing, growing and harvesting high technology companies. Contact the center at 813/974-3245.

High Tech Pill Packs
About half of the three billion prescriptions filled each year in this country are not taken properly, according to medical researchers. That sounds like a lot, until you consider that many prescriptions are taken by elderly people under care or in nursing homes. Some of those people are unable to administer medications properly. Healthcare insurers say it costs between $60 billion and $100 billion each year to attend to issues related to improperly administered prescriptions. Enter Clearwater-based Medical Technology Systems Inc. (Nasdaq: MDTY), which makes high tech machines that insert and seal pills into blister card packs that are clearly marked with the time and day the medication is supposed to be taken. The company has done well in the United States, says President Todd Siegel. Now, it is branching into the United Kingdom. The company's revenues increased 18 percent to $20.1 million in fiscal year 2001. Are these guys on to something? The medical compliance packaging market is expected to grow 100 percent to a $200 million market by 2005 from $100 million in 2001, analysts predict. Medical Technology is looking to expand into the retail pharmacy market, which is projected to grow from $300 million this year to $400 million over the next five years. For more information: www.mdty.com

STAR Center Renamed
The STAR Center in Pinellas County, a former weapons production facility that was established here in 1995, was renamed the Young-Rainey STAR Center to reflected valuable contributions made by Congressman C.W. Bill Young and former county commissioner Charles "Chuck" Rainey. Nuclear triggers, among other things, used to be made there. Now, modern high tech commercial manufacturing is conducted there.

Tech f.y.i.
Floridalandlord.com is a new Web site that provides information on running a profitable residential rental housing business Š BayShore Solutions (www.bayshoresolutions.com) has unveiled its Site Manager program that lets people make changes to their corporate Web sites without a lot of expertise. The company does site management for several large Bay area firms Š Broker2Broker.com and MortgageCareer.com have formed an alliance to improve searching for qualified candidates from executive and lower-level resumes in the mortgage industry.

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