It’s been a tough decade for the venture capital industry, but at the Florida Venture Capital Conference this week in Orlando, the mood was decidedly sunny.
“Contrary to the headlines, the ecosystem is working,” said John Taylor, head of research at the National Venture Capital Association. It was a record year for seed and early stage deals in 2013, and first-time financings were up, both nationally and in Florida. Another positive sign nationally: There was a sharp increase in initial public offerings in 2013; of the 82 IPOs, 42 were in biotech, where Florida has a number of companies.
“In the life sciences, we are seeing crazy interest,” said Scott Weiner of Pappas Ventures. Pappas, which concentrates on healthcare, participated in three IPOs and two mergers last year.
The three-day conference held at the Hyatt Regency Orlando attracted a record crowd of about 100 investors and about 430 total attendees, including investment bankers, entrepreneurs, lawyers and other service providers, said Kevin Burgoyne, president of the Florida Venture Forum, a 30-year-old trade organization that puts on the annual conference.
Along with panels, workshops and hallway networking, 16 entrepreneurs presented their ventures on stage, hoping to attract funding or at least win a meeting (or three) with some of the suits in the crowd. South Florida companies Avionica, Deliver Lean, Guide, itopia, Kleo, Leapfactor and Mergenet Medical were among the companies selected to present. Most of the companies said they received serious interest from at least one or two firms. For all of them, it was their first run at venture fund investment.