Commentary: Tampa Bay business ecosystem thrives in face of economic challenges
Author: Brian Deming is a veteran technology entrepreneur, executive, investor, and board member with more than 30 years of consulting and business leadership experience. He is the co-founder and former President of Tribridge, a software technology company that was acquired by DXC Technology (NYSE: DXC). Deming currently serves as Board Chair for Tampa Bay Wave and Vice Chair of the Board of Directors for the United Way Suncoast. He is an active investor through Florida Funders, as well directly in local tech companies. Deming holds a Bachelor of Science degree in Systems Analysis from the University of Miami.
When the pandemic broke out in March, the markets and the economy took a big hit in late Q1 and early Q2. While the stock markets have largely recovered and even gone on to set new record highs, other parts of the economy continue to languish. Most retail-related businesses are still operating at only partial capacity (if at all) and countless people remain out of work. With the continued uncertainty surrounding the pandemic and the upcoming presidential election, there are certainly more challenges ahead.
With these economic challenges, it would be easy to assume that early-stage companies and startups have been significantly impacted as well. While it is certainly true that many early-stage companies (just like companies of all sizes) have been negatively impacted, the business support ecosystem has continued to thrive, with local companies of all sizes landing new rounds of financing from investors, both local and across the country.
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