Andrew Duffell, President of the Research Park at Florida Atlantic University, explains why public funding and policy support are scarce for second-stage incubators.
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“Policymakers are impatient, so they want a flashy success quickly in a startup, and then hundred job announcements they can make and ribbons they can cut on the other end.”
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More from Andrew Duffell
Insight
Duffell: Second-Stage Startups Need Enterprise Connections Over Financial Modeling Help
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Andrew DuffellOct 7, 2025▶ 10:01Building Entrepreneurship in Research Park at Florida Atlantic University: A Conversation with Andrew Duffel, President of Research Park
AssertionNot checkable as stated
Duffell: No other physical incubator focuses specifically on second-stage companies
“First of all, we have looked far and wide and we haven't found another physical incubator that is tailored specifically to second stage companies.”
Andrew DuffellOct 7, 2025▶ 14:30Building Entrepreneurship in Research Park at Florida Atlantic University: A Conversation with Andrew Duffel, President of Research Park
AssertionSupported
Duffell: Most Florida Companies Avoid 5.5% Corporate Tax via Structuring
“The corporate tax rate is 5.5%, and most companies don't ever end up having to pay it because of the way they structure their own companies.”
Andrew DuffellOct 7, 2025▶ 23:56Building Entrepreneurship in Research Park at Florida Atlantic University: A Conversation with Andrew Duffel, President of Research Park
Insight
Duffell: Entrepreneurial drive is largely innate, but business skills can be taught
“I think that the burning desire to build a company or build something really Meaningful for the world is something, is a drive, an ambition that you're probably born with or develop as a young person for a particular need. But then the other skills around buil…”
Andrew DuffellOct 7, 2025▶ 5:44Building Entrepreneurship in Research Park at Florida Atlantic University: A Conversation with Andrew Duffel, President of Research Park
AssertionSupported
Duffell: ModMed employs 2,000, grosses $500M, and is valued at $5.3B
“Now they employ approximately 2000 people and gross over five hundred million dollars, and they're valued at their last transaction at 5.3 billion dollars.”
Andrew DuffellOct 7, 2025▶ 11:52Building Entrepreneurship in Research Park at Florida Atlantic University: A Conversation with Andrew Duffel, President of Research Park
AssertionPartly supported
Duffell: Max Planck Received $90M in Incentives for FAU Research Institute
“My biggest project before I left, my previous role was to recruit the basic science research institute from Germany called the Max Planck Society. They didn't have any facility outside of the Eastern Hemisphere, so we worked with them to establish their first …”
Andrew DuffellOct 7, 2025▶ 22:47Building Entrepreneurship in Research Park at Florida Atlantic University: A Conversation with Andrew Duffel, President of Research Park
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