FIBA Launch is designed to help hi-tech startup companies enter, scale and reach their full growth potential in the United States. FIBA Launch finds the niche for your technology, consults you on how to localize the product, explores broader application and expansion to other industries, guides you on product, pricing and distribution strategies, assists in end-to-end “prospect to win” sales activities including marketing activities and lead generation, preparation for your customers and investor meetings, coordination of pitch and demo opportunities with prospects and investors, and assistance with contract negotiation.
The FIBA Launch program is a 6-12 month program, during which companies will spend some of the time in Tampa and some of the time in Israel working with the FIBA team remotely. Our experience have shown that companies who dedicated the time and resources to return to Tampa to follow-up on leads and expand their network, have had the most success.
Companies that are a good fit for FIBA Launch have a product/technology that is ready for market, preferably with a customer-base in Israel or other countries and resources allocated to activities surrounding launch of the product in the US market. Additional requirements include clear ownership of intellectual property and export control approval from the appropriate authorities. The founders must be willing, available and capable to travel to Tampa extensively or alternatively relocate to the US or hire an executive level employee based in the US. We encourage you to fill out our application even if you are not sure whether you are a good candidate. We will review all applications and get in touch with you to discuss.
Launching your technology in a new market, especially the US, can be costly. At FIBA we believe that we can help you enter the market with a much lower investment than you expect. The FIBA Launch program can expedite your time to market and help you find your initial US-based customers. Once you have a track record in the US, customer acquisition will become somewhat easier and investors will be more inclined to consider your company for an investment.
We estimate the value of the services you will receive from FIBA during the 6 month to 1 year engagement with the group at $100,000. In exchange for our contribution to your success FIBA asks for a share of the revenue generated from deals facilitated by FIBA and the FIBA network. FIBA is a project of the Tampa Jewish Community Centers and Federation, Inc., non-profit (501c3) organization, and the revenue share will contribute toward future programming and development of the accelerator, as well as to the overall mission of the parent organization.
FIBA is housed in the new Bryan Glazer Family JCC. The historic building was retrofitted with the latest amenities including a fitness and aquatic center, an event center and an art center. The facility offers on-site free parking and is located at the heart of Tampa, 20 minutes from the airport, 5 minutes from downtown and 5 minutes to a variety of restaurants, cafes and bars in trendy Hyde Park, Soho and the River Heights neighborhood. As part of our program, participants receive free membership to the fitness and aquatic center for the duration of their stay in Tampa.
The FIBA space offers an open space for events and collaborative meetings in addition to private offices and conference rooms. The companies participating in the FIBA Launch program will get an office space for them to use while they are in Tampa. Wifi, printing, scanning, copying and A/V services are also available.
In order to help you understand the US market and the industry you are targeting, open doors for you and coach you on how to navigate the sales process in the US, we have a network of mentors and subject matter experts who are experienced entrepreneurs, industry experts, corporate executives, university professors and professional service providers who are eager to help.
During the FIBA Launch program, you will be introduced to a select group of mentors and subject matter experts who will focus on helping you be successful.
In addition, FIBA will coordinate events and networking opportunities for your to meet people from the business, entrepreneurial and Jewish community in Tampa Bay. We found that many meaningful connections happen during these interactions. One of the strengths of the FIBA program is in its strong connection to the community and the network of people it will help you build.
OPENING A US OFFICE
For those companies who get traction and decide to open an office in the US and preferrably in Tampa Bay FIBA will assist with the logistical and administrative tasks involved in the process. Our team and network of service providers will provide guidance on incorporation, tax and legal issues, office space leasing, talent recruitment, access to grants and capital, and most important setting up an efficient operation that will support U.S. customers. By avoiding common pitfalls and establishing a solid foundation, we will increase the probability of your success in the U.S. market.