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Florida tech startups compete for cash, exposure at USF Connect event in Tampa

Dr. Kanwal Rekhi of Inventus Capital Partners will be one of the judges.

Ramesh Sambasivan is President of TiE Tampa Bay.

USF Connect is partnering in the event.

Twenty Florida tech startups will have a chance to give 60-second elevator pitches May 30 to a three-judge panel including Dr. Kanwal Rekhi, a Silicon Valley venture capitalist meeting at USF Connect in Tampa.

Start-ups have until noon on Friday, May 26th, to submit their entries for the Start-up Shuffle, a Start-up Elevator-Pitch Competition by TiE Tampa Bay Chapter and USF Connect, says Ramesh Sambasivan, President of TiE Tampa Bay.

The Shuffle will provide a “scenic drive of Tampa Bay and the Florida entrepreneurial ecosystem,” he explains. A pre-screening committee will review all submissions.

“This is a place to pitch real start-up companies, not for vetting,” Sambasivan says. “If they want to vet their idea, there are already enough mentors in town to do that.”

Start-up companies should have a product or offering that has launched, although it could still be in beta, he says.

On the panel of judges with Rekhi of Inventus Capital Partners, is Matt Rice, a Partner in Ballast Point Ventures, and Sid White, Co-Founder of Chemical Angel Network.

TiE and USF Connect decided to hold the contest earlier this month. Rekhi already had been scheduled to talk about the challenges for technology start-ups that are disrupting highly regulated industries.

“We were trying to come up with a way that would be a little different than just having five companies pitch,” says Valerie McDevitt, Associate VP for Tech Transfer and Business Partnerships at USF. “You do literally find your self in a cab or elevator with just a few minutes with someone.”

The Start-up Shuffle kicks off at 6 p.m., followed by networking, a Start-up Expo and Dinner from 7:15 p.m. to 8 p.m. A fireside chat with Rekhi is slated from 8 p.m. to 9 p.m.

His talk is to include an in-person case study of Alok Jha, Founder/CEO of Assured Risk Cover, an innovator in the insurance industry.

The event also includes a “living history” of Storm Peace, a hurricane insurance provider and the dinner’s sponsor, Sambasivan says.

The Start-up Shuffle winner will be announced later in the evening, probably before the fireside chat. The winner will receive a $1,001 cash prize, a breakfast meeting with Dr. Rekhi the following morning, and a chance to pitch to TiE Tampa Bay angel investors. The runner-up wins a 30-minute one-on-one mentoring session with a TiE Tampa Bay Charter Member and a chance to pitch to TiE Tampa Bay angel investors.

The 20 finalists win one complimentary ticket to the entire program or a discounted annual membership to TiE Tampa Bay.

The event at USF Connect’s Galleria on the Tampa Campus is open to the public. Enter the free contest or register for the event here.

TiE events typically attract “undercover investors” who really are actively looking for investments, Sambasivan says. As a result, conversations may become serious.

“You never know where that diamond in the rough is,” he adds. “That’s what we are trying to uncover with these types of events.

Read more articles by Cheryl Rogers.

Cheryl Rogers is an editor and feature writer for 83 Degrees Media in the Tampa Bay region of Florida.
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