A new type of business accelerator in South Florida will aim to develop innovative products with less risk for entrepreneurs and investors. The accelerator on Monday announced its new headquarters at General Provision, a co-working space in the FAT Village district in Fort Lauderdale. Eventually the accelerator will have multiple locations in South Florida, the co-founders said.
The South Florida Accelerator will be a so-called "off-ramp" model in which startups will produce software or other intellectual property to the specifications of venture partners, who will be first in line to acquire it. The method "is a faster time to market," said Thomas Buchar, co-founder and managing partner of the new venture, along with Christopher Malter. Buchar said The South Florida Accelerator will both "incubate" new technology or business ideas and accelerate them by forming a company and building a management team. The accelerator will focus on investments in life science, big data and technologies that help companies manage their workforce and make financial services more efficient.