Tampa Bay Wave has received a $1.38 million federal grant to launch an accelerator for defense technology startups, expanding the region’s network of companies tied to the military and U.S. Special Operations Command.
The U.S. Economic Development Administration announced the award today as part of $41.6 million in disaster supplemental funding distributed across five states. The agency described Wave’s project as a pilot accelerator intended to strengthen economic resiliency following hurricanes Idalia and Milton.
The funding is through EDA’s 2025 Disaster Supplemental Grant Program, which supports economic recovery in communities affected by federally declared disasters. As a qualifying note, it is economic development funding rather than a Department of Defense award.
The Tampa Bay DefenseTech Innovation Accelerator will support 30 early-stage companies through two cohorts during an 18-month pilot. Wave will provide startup programming and connections to mentors, investors and government contacts, while SOFWERX, the Tampa innovation hub that works with U.S. Special Operations Command, will provide the defense-focused technical component.
The cohorts are expected to culminate with Demo Days during SOF Week in Tampa in 2027 and 2028.
Financial support from Hillsborough and Pasco counties, the City of Tampa, the University of South Florida Institute of Applied Engineering and the National Center for Responsible Government Contracting will bring the overall project investment above $1.7 million.
Wave projects the initial two cohorts will create 113 jobs, retain 75 existing positions and generate more than $14.8 million in private investment. Those figures are projections tied to the accelerator, not completed economic impacts.
“The Disaster Supplemental Grant Program was designed to help communities rally and rebuild their local economies following severe storm activity over the last few years,” EDA Deputy Assistant Secretary and Chief Operating Officer Ben Page said in the agency’s announcement.
The program strengthens the defense and security environment around MacDill Air Force Base, home to U.S. Central Command and U.S. Special Operations Command.
The Tampa Bay Economic Development Council noted this in July after defense technology company Orion Edge announced a $6 million expansion of its Tampa headquarters and plans for 25 new jobs averaging $120,000 annually.
“Orion Edge’s expansion is further proof that Tampa and Hillsborough County’s defense tech ecosystem is hitting its stride,” Archie Collins, Tampa Electric CEO and chairman of the Tampa Bay EDC, said in the council’s prepared statement.
Wave already operates accelerators focused on sectors including fintech, cybersecurity, health technology and blue technology – its Tech|X program also supports defense technology companies.
The new federal award gives the nonprofit a dedicated program for companies seeking to develop technology for defense applications while connecting them with Tampa Bay’s military, investment and startup networks.