A second-stage company must be characterized as an established and growing firm as defined by the traits below. They are typically past the startup phase and face growth challenges rather than survival issues. A company must meet the following for the year ending 2023:
- Be a privately held commercial enterprise headquartered in Florida (not publicly traded, subsidiary, or division of another company or nonprofit).
- Employ 6 to 150 full-time equivalent W-2 employees, including the owner.
- Have between $750,000 and $100 million in annual revenue or working capital from investors or grants.
- Have not won this award in the past.
- Demonstrate an intent and capacity to grow based on evidence such as:
- Employee or sales growth
- Exceptional entrepreneurial leadership
- Sustainable competitive advantage
- Other notable factors that showcase the company’s success
