Globally recognized startup incubator will build on its successful foundation to become the leading organization for entrepreneurship in the Southeast U.S.
Tampa, Florida, Aug. 29, 2024 (GLOBE NEWSWIRE) — Embarc Collective today announced the appointment of its next CEO, Dr. Tim R. Holcomb, an experienced entrepreneur and educator with over 35 years spent building and supporting high-growth startups and startup incubators nationally. Holcomb replaces Lakshmi Shenoy, who over the past six years grew Embarc Collective into one of the world’s leading startup hubs for serious tech entrepreneurs. The transition will allow Embarc Collective to make an even bigger impact as the leading startup incubator across the Southeast U.S. and beyond.
Holcomb comes to Embarc Collective from Miami University in Oxford, Ohio, where he serves as Professor and Chair of the Department of Entrepreneurship and Director of the John W. Altman Institute for Entrepreneurship, considered one of the top entrepreneurship programs in the world and ranked No. 7 globally by The Princeton Review®. He has served as a board member and advisor for dozens of companies, including ReliaQuest, and previously held the Jim Moran Professor of Entrepreneurship at Florida State University, where he served as Executive Director of the Jim Moran Institute for Global Entrepreneurship. Holcomb cofounded and grew Telcom Global Solutions, a $30 million design-build-services firm that was acquired by Flex, a Fortune 500 firm, in 2001.
Holcomb will join Embarc effective Jan. 1, 2025. Shenoy will remain engaged at Embarc Collective as a member of the Embarc Collective Board of Directors and as an Embarc Collective coach to member startups.
“It’s easy to forget that just five years ago, nothing like Embarc Collective existed in Florida. Now there are over 125 technology startups at Embarc Collective on a path of growth and scale, which will have more impact on our state than any other initiative over the past decade,” said Brian Murphy, founder and CEO of ReliaQuest and Chair of Embarc’s Board of Directors. “We are grateful for Lakshmi Shenoy’s leadership over the past six years, and we are thrilled to welcome Tim Holcomb as Embarc’s next CEO. Tim not only personally understands the grueling effort it takes to build a business, he has made a career supporting other entrepreneurs – including myself. I can’t think of anyone more qualified to build on the strong foundation at Embarc Collective and look forward to our next phase of growth.”
As the founding CEO of Embarc Collective, Shenoy brought the vision for a startup hub presented by investor and Water Street developer Jeff Vinik to reality, launching the non-profit startup support program, leading the build-out of the physical 32,000 square facility in downtown Tampa, and helping the organization to become the fastest growing startup hub in Florida. Embarc Collective is now known globally as a premiere organization to support the most serious tech startups:
- In 2023 Embarc Collective was ranked as a top program in North America by UBI Global, a global benchmarking study of startup support programs, one of only two U.S.-based organizations recognized.
- Since launching, Embarc Collective has served over 230 early-stage startups, delivering over 6,000 coaching hours and creating nearly 1,000 net new jobs.
- Of its original member companies from 2019, 96% were still operating in 2024, defying startup survivability odds (typically only 50% or fewer startups survive past 5 years) and 60% remain members of Embarc Collective demonstrating the organization’s ability to stay relevant to the changing needs of the companies it serves.
- Embarc Collective’s member companies have collectively raised over $200 million with 7 successful exits.
- Embarc Collective hosts 200+ events on entrepreneurship, innovation, and technology a year, bringing over 20,000 people to its downtown Tampa hub annually. Events have included the Rise of the Rest tour with AOL co-founder Steve Case, the national Startup of the Year Summit, and the annual Glaring Gap Summit, which has trained 200 women from across Florida in startup investing basics.
“Embarc Collective is proof that a hub that brings together focused, driven entrepreneurs with best-in-class coaching can deliver outsized impact for the growth of Florida’s startup ecosystem,” Shenoy said. “I am grateful and proud to have led the first phase of Embarc Collective’s journey, and I am looking forward to seeing all that Embarc Collective will accomplish under Tim Holcomb’s leadership.”
“Entrepreneurship represents the backbone of our country. It is the single most impactful activity for creating generational prosperity, opportunity, and jobs,” Holcomb said. “As the third largest state in the nation, Florida can be the leader at scale in supporting the entrepreneurial ecosystem, activating the economy in a way that other states can’t. I’m thrilled to support this mission and build on the already vibrant platform at Embarc Collective to make this the watermark for successful startup ecosystems nationwide.”
“What they’re saying”
Jeff Vinik, Owner, Tampa Bay Lightning
Chair Emeritus, Embarc Board of Directors
“Embarc Collective plays a vital role in unlocking tremendous potential for Tampa and Florida. Supporting the growth of new businesses is one of the most effective ways to drive economic development. Lakshmi’s leadership has been instrumental in this incredible work, and Tim Holcomb is perfectly positioned to build on that momentum. As we reflect on our progress a decade from now, we will recognize Embarc Collective as a key catalyst that transformed our community for generations to come.”
Jack Shields, Founder, Shields Health Innovations
Vice Chair, Embarc Board of Directors
“I am beyond thankful for Lakshmi Shenoy’s leadership through Embarc Collective’s first chapter and I couldn’t be happier with Tim Holcomb taking the helm as we transition to the next chapter of Embarc Collective. Tim embodies entrepreneurship and his extensive background in the field will bring Embarc Collective to great heights.”
Lisa Czachor, CFO, Partners in Asset Management
Member, Embarc Board of Directors
“As Embarc Collective continues to make its impact on the tech sector, we applaud Lakshmi for her dedicated leadership these past 5 years. We are thrilled to welcome Tim as Embarc’s transformation agent and guiding light.”
Dave Felman, Shareholder, Hill Ward Henderson
Member, Embarc Board of Directors
“Laksmi leaves a wonderful legacy as the face and heartbeat of Embarc Collective since its inception, working closely with her larger team to realize Jeff Vinik’s concept of a best of class hub for Tampa’s entrepreneurial community,” said Dave Felman, a founding Board member. “We are very fortunate Tim is joining us to lead Embarc to the next level and beyond.”
Jason Kuhn, Owner, Kuhn Automation Group
Member, Embarc Board of Directors
“We are so grateful for the wonderful leadership that Lakshmi has provided to the entire Embarc community. We owe her much gratitude for her time and commitment to the organization. We are also thrilled that Tim Holcomb has decided to join our team. Embarc will benefit greatly from Tim’s vast experience and expertise and we look forward to a future of continued growth and evolution.”
Steve MacDonald, Partner, Florida Funders
Member, Embarc Board of Directors
“It’s been incredible to see the impact that Embarc Collective has had on our startup community and local economy in just a few years, and that is credited to the leadership of Laskhmi Shenoy. I’m grateful for her commitment to this organization, and I’m looking forward to seeing Embarc build on that strong momentum in our next phase of growth.”
Dr. Rebecca White, James W. Walter Distinguished Chair of Entrepreneurship; Director, Entrepreneurship Center; Professor, University of Tampa
Member, Embarc Board of Directors
“With his own personal startup experience and his more recent work leading one of the top entrepreneurship education programs in the US, Tim brings a wealth of knowledge and experience to the Embarc Collective at this critical time in the growth of the organization. He is the perfect complement to the impactful work of the founding director, Lakshmi Shenoy, and her team. I couldn’t be more excited to see him join the Tampa Bay entrepreneurial ecosystem.”
Jeff Wysocki, Chief Information Officer, Mosaic
Member, Embarc Board of Directors
“Dr. Tim R. Holcomb’s appointment as CEO marks an exciting new chapter for Embarc Collective. His extensive experience in entrepreneurship and education will further the Embarc Collective brand and mission of supporting serious tech entrepreneurs. With over 125 technology startups already thriving, Tim’s addition to Embarc Collective will leave us poised to make an even greater impact on the Tampa area and beyond.”
Rhea Law, President, University of South Florida
“Embarc plays a key role in supporting our region’s startup ecosystem, which aligns with the University of South Florida’s mission to drive innovation and develop talent with an entrepreneurial mindset. USF’s partnership with Embarc helps generate many opportunities for economic growth in Tampa Bay, and we’re excited to continue our collaboration under Tim Holcomb’s leadership.”
Will Weatherford, Managing Partner, Weatherford Capital
“Great communities are made when bold ideas are brought to life by driven individuals. Embarc Collective embodies that spirit and has already done so much to catalyze entrepreneurship across Florida. I am looking forward to seeing how much more we will accomplish during Embarc’s next chapter.”
About Embarc Collective
Embarc Collective, a 501c3 non-profit, is a central landing zone for the most driven and focused startup builders in Florida, ranked as a top startup support program in the world by UBI Global. Embarc Collective offers on-demand coaching and programming led by startup veterans for 125+ tech companies operating within an award-winning 32,000-square-foot hub in Tampa, Florida.
CONTACT: media@embarccollective.com
