Enterprise Development Corporation of South Florida Establishes Hub for Entrepreneurial Support Services in Downtown Miami
Knight Foundation Invests $175,000 to Support Entrepreneurs at all Stages of Business Development
MIAMI – Feb. 10, 2014 – Enterprise Development Corporation of South Florida, a nonprofit that supports local entrepreneurs, will expand its offerings and establish a hub in downtown Miami with $175,000 grant from the John S. and James L. Knight Foundation.
Since its founding in 1994, the EDC has fostered the success of promising entrepreneurs by providing support services, access to mentors, and opportunities to connect with investors and business leaders. It assists more than 300 companies annually and has contributed more than $500 million in economic impact to the South Florida region.
The EDC, which previously had its headquarters in Boca Raton, Fla., will utilize the new Miami hub to provide entrepreneurs with expanded support services throughout Miami-Dade. The organization also will use the money to increase collaboration and engagement with local accelerators, incubators and shared office spaces, develop strategies to attract and channel investment capital, and further institutionalize its mentorship and business advisory program.
More specifically, the EDC will contribute to the growth of more than 40 Miami-based startups during the next 12 months, using an incubator model that helps address the needs that emerging companies face during their development. It also will serve as host to six events, ranging from pitch sessions to discussions with business leaders, aimed to promote knowledge-sharing and help entrepreneurs prepare for investment and create connections.
“Enterprise Development Corporation fills an important gap by providing entrepreneurs at all stages – newly created, mid-level, and mature – with the essential resources they need to grow and succeed,” said Matt Haggman, Knight Foundation’s Miami program director. “This new location also will draw in Miami’s growing community of talented entrepreneurs and provide the entrepreneurs with increased access and visibility.”
Rob Strandberg, Enterprise Development Corporation’s president, added: “This support will enable Enterprise Development Corporation to significantly increase its impact on Miami’s entrepreneurs at a promising inflection point in the city’s rise as an emerging center for business innovation. We look forward to marshaling our resources to help provide Miami entrepreneurs with the necessary mentorship, strategic counsel, and access to capital to help propel their growth.”
Support for the EDC is part of Knight Foundation’s ongoing efforts to attract talent and create new opportunities by strengthening Miami’s emerging community of entrepreneurs, startups and makers.
About the John S. and James L. Knight Foundation
Knight Foundation supports transformational ideas that promote quality journalism, advance media innovation, engage communities and foster the arts. We believe that democracy thrives when people and communities are informed and engaged. www.knightfoundation.org
About Enterprise Development Corporation
Enterprise Development Corporation of South Florida is a 501 c(3), non-profit organization dedicated to providing entrepreneurial support services to emerging high-growth companies throughout South Florida. Founded in 1994, EDC assists more than 300 companies annually and has achieved an overall economic impact that exceeds $500 million. Through its key initiatives and resource networks, the EDC provides companies with the mentorship, strategic advisory services, and connections to funding sources that they need in order to grow and succeed. For more information, visit www.edc-tech.org.
Editor’s Notes: Interviews are available upon request