The second person to lead Embarc Collective – the startup incubator that helped cement Tampa Bay’s status as an entrepreneurial hub – will lean on institutional expertise to expand the ecosystem.
Dr. Tim Holcomb has built and supported startups nationwide for over 35 years. Institutional relationships have aided an approach he will soon implement throughout the region.
Lakshmi Shenoy, Embarc’s founding CEO, will not pass the baton for roughly 45 days. However, Holcomb spent Wednesday in Tampa gathering information and meeting his new team.
“Buildings don’t start companies – people do,” Holcomb said. “There is a passion and a purpose that has evolved here over seven years. That is clearly evident. My message to the community is that’s not going to change.”
Holcomb credited Shenoy and Embarc’s coaches for their proven impact on the entrepreneurial community. Member startups boast a 96% five-year survivability rate. The national average for new businesses is 45%.
Holcomb noted the importance of meeting those coaches and understanding the nonprofit’s processes before his first day on the job. “He’s doing an incredible job digesting everything we’re throwing at him,” Shenoy said.
Holcomb is a board member and advisor for several companies, including Tampa-based ReliaQuest. He cofounded Telcom Global Solutions, a design-build firm acquired in 2001 by a Fortune 500 company.
Holcomb later cofounded 1809 Capital, a Miami (Ohio) University alumni-led growth stage venture firm. Academia is in his DNA.
Holcomb earned a Ph.D. from Texas A&M. He is the founding chairperson and a professor at the John W. Altman Institute for Entrepreneurship.
The Princeton Review and Entrepreneur Magazine recently ranked the institute 8th globally for undergraduates. The publications have placed it in their top 10s for 17 consecutive years.
“There’s a lot of similarities in terms of what we do with undergraduate students at Miami University and what happens here at Embarc,” Holcomb said. “The coaches and support team understand there’s a kind of scientific method to starting a company. Sometimes it’s going to work. Sometimes it isn’t.
“But it’s better to have someone who’s been through the process to help you understand why something you tried didn’t work.”
A healthy startup ecosystem requires support from colleges, corporations and institutional investors. Holcomb wants to build on previous contributions and establish new relationships. Those could include local governments.
Embarc will continue prioritizing burgeoning founders and their success through coaching and mentorship. However, Holcomb envisions the incubator becoming a collaborative hub for various organizations to uplift startups.
Shenoy noted Holcomb has studied entrepreneurial ecosystems globally, which “really excited” Embarc’s leadership. She also credited his ability to leverage corporate expertise.
“It’s great to get an out-of-market perspective on what has worked and hasn’t worked in other places,” Shenoy said. “And how do we apply that to what’s happening in Florida’s startup market.”
Holcomb has frequently visited the area over the past 15 years through his work with ReliaQuest. He “fell in love” with Tampa Bay and “couldn’t be more excited” for the opportunity to expand Embarc’s foothold in a growing metropolitan area and, potentially, statewide.
Holcomb realizes Shenoy will leave “some big shoes to fill” after establishing a positive culture of success over her six years at the helm. “And that’s a good thing,” he added. “That’s not going to change.”
Embarc will remain true to its roots as a founder-first organization. Holcomb pledged that serving and supporting the startup community would remain the organization’s priority.
“I’d like to think the secret sauce for me is being able to take something that’s working well and scale it,” he said. “There’s an opportunity to bring a much wider tent of organizations to the table, and I’d like to think I’ll be able to do that.”
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