UCF Lake County business incubator reports client growth and new hires in first year
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Summary
The county’s UCF-linked business incubator, located in the city of Eustis, reported nine active clients and a pipeline of applicants; staff highlighted recent hires by client companies and an expected near-term capital infusion for at least one incubator client.
County economic development staff and the University of Central Florida-affiliated incubator manager briefed the Board of County Commissioners on Oct. 14 about the incubator’s first-year progress.
The incubator, launched through an interlocal agreement with the city of Eustis and UCF, is housed at the MegaWorkplace in Eustis and serves countywide entrepreneurs. Incubator manager Brian Bedrick summarized the program’s three focus areas: implementation of UCF’s business incubation methodology, integration into Lake County’s business-support ecosystem, and efforts to help client firms scale more quickly.
Bedrick reported nine active clients and six additional applicants in the pipeline. He described two success stories: Opticon, a fiber-optics firm that opened its North American headquarters in Eustis and hired a Lake Tech graduate, and Intelligence Factory, which has progressed from break-even to hiring two higher-wage employees and is on the verge of a significant external capital infusion while remaining based in the county.
Bedrick cited a historical return-on-investment metric (Haas Center study) showing that well-run incubators can yield significant sales, job creation and tax revenues, and he noted that every dollar invested in the UCF incubation model has produced a sizeable multiple historically. He also described educational programming (a cybersecurity summit and “Excellence in Entrepreneurship” series) that has drawn roughly 17 entrepreneurs per month.
Eustis City Manager Tom Carino and other partners praised the county‑wide nature of the incubator and the collaborative partnerships with LEED, the Lake Eustis Area Chamber and others. Commissioners encouraged staff to continue the incubator partnership and look for opportunities to sustain client successes.
No board action was required; staff said they will return with further updates and any requests for funding as the program matures.
