Why Tampa Bay’s tech ecosystem is on the rise
Writer: Mirella Franzese
February 2025 — Tampa Bay is growing its footprint in Florida’s emerging tech sector, with a combined $1 billion in capital raised in the past year for startups operating in the region.
Despite being ranked No. 30 in CBRE’s 2024 scoreboard of the nation’s “Top Tech Talent Markets,” Tampa’s innovation ecosystem — along with South Florida at No. 27 — moved up three spots from the previous year.
Gen-AI and its different applications across industries are leading Tampa’s drive as a leading tech economy, according to key executives in the region. On the education front, the University of South Florida recently launched a free AI micro-course on generative AI, with more than 4,500 participants signed up, demonstrating high demand as individuals seek out ways to align their career growth with this once-in-a-generation technology.
Here’s how Tampa’s financial, healthcare, and professional services leaders are leveraging AI and innovation throughout the different sectors of the economy.
How are you integrating AI or digital technological innovations into your operations?
Xavier Avat, Executive Vice President & Chief Business Officer, Moffitt Cancer Center
Moffitt’s digital health leadership stems from its long-term investment in data and innovation. Over 25 years ago, Moffitt strategically began collecting comprehensive patient data, including genomics, tumor characteristics, treatment histories, and social factors, while tracking this information over time. This repository has grown into one of the richest datasets in oncology, supporting groundbreaking research and personalized care.Building on this foundation, Moffitt established a machine learning department to analyze these datasets, uncovering insights that traditional biological methods might miss. We also created a mathematical oncology department, leveraging evolutionary theory to model and combat cancer progression. These innovations are so groundbreaking that the NIH has recognized mathematical oncology as a distinct research discipline, with Moffitt leading the charge.Now, with advanced computing power and refined tools, we can truly mine this data to optimize patient care. Historically, cancer treatments have been applied sequentially — trying one tool after another until remission is achieved. Moffitt is working to transform this approach by tailoring treatments to individual patients from the outset. By combining data, technology, and our extensive toolkit, ranging from biologics and cell therapies to surgery and radiotherapy, we aim to create personalized, dynamic treatment plans that maximize outcomes and redefine the standard of care.
Tampa Bay provides a strong foundation for Moffitt’s success, offering a diverse population and a large volume of cancer patients that drive research and clinical advancements. Tampa’s patient demographics also support the development of therapies for a wide range of populations, which is critical for advancing treatments globally.Building the local workforce is essential as we expand, particularly with new projects like the life sciences hub near the airport, which will require 15,000–20,000 new workers in the next few years. Florida’s top-ranking higher education system produces talented graduates, but many have historically left the state in search of opportunities. Moffitt is working to change that by leveraging its global reputation in immuno-oncology and cell therapy to attract and retain top talent.
John Thompson, President, Central Bank
Banking is all about technology. Over the years, we’ve significantly improved our service levels — what used to be manual and time-consuming is now seamless. Customers can manage their accounts online, make deposits, and access real-time updates.One of the biggest advancements we’re integrating is AI. AI has tremendous potential in banking, but it needs to be implemented responsibly. Just as there are bad actors on the internet, there will be malicious AI systems attempting fraud.Last year, we partnered with Jack Henry, a top-tier technology provider, to enhance our fraud detection capabilities. Its Financial Crimes Defender product uses AI and machine learning to analyze customer behavior in real time, helping us proactively identify and prevent fraud rather than just reacting to it.We’re also preparing to adopt Real-Time Payments, which already cover 62% of financial institutions, and FedNow launching in the third quarter of this year.In fact, we’ve rolled out new software that monitors users’ login behaviors. It analyzes factors like whether they’re left- or right-handed, their IP address, and their device history. If anything appears unusual, we receive an immediate alert, allowing us to act quickly to secure the account.
Chris Gstalder, Tampa Bay managing director for Accenture
Maybe 10 years ago, we would have said climate was the main driver of growth, with the lack of income tax being a bonus. Now, however, we would say it’s the presence of high-quality tech talent and amazing new ideas, this is a friendly place where we can collaborate effectively. We’re also seeing traditional companies that are already here wanting to get into new areas, such as financial companies moving into fintech or hospitals leading medical innovation. We have several leading cybersecurity companies that are coming in and figuring out how to expand while leveraging the new technologies that are here. What we’re seeing from our Accenture research fits in perfectly with the growth that is happening in Tampa. The last few years have clearly been about AI, but this year is particularly interesting for me because now we’re starting to talk about what’s next in AI.
It’s autonomous AI. Up to this point, AI has been more of an accelerator, with some humans then looking at it, validating the right path, and tweaking it. We’re getting to the point now in what we’re calling the Binary Big Bang, which is where digital agents will truly be able to start doing things on their own. So we’re seeing huge growth and innovation now. There are companies in Tampa that will figure out — or have already figured out — how to turn an industry on its head through innovation and the ideas that they have. It has been inspiring to learn more about how they are thinking and how they envision taking innovation to the next level. That is true even in the traditional sectors that have been established here for a while like healthcare and the financial sector, where you can see these companies starting to think through their next evolution in terms of AI technology. From there, you start to think about how to better protect organizations with the increased number of cyber threats that are happening every day which in turn makes cybersecurity a huge opportunity area. This will only grow as the next generation of technology emerges such as quantum computing. Ensuring that we’re ready for this rapid innovation will be a big task for all of us. There are exciting opportunities and a lot of room to grow here in Tampa.
Lea Graf, President, Sterling Tax & Accounting
One major trend we’re closely watching is the integration of artificial intelligence. It’s revolutionizing the industry in many ways. Since founding Sterling, I’ve always prioritized adopting the latest technology. We were early adopters of cloud-based systems, and now many of those systems, like QuickBooks and our workflow and tax software, are incorporating AI.
AI has the potential to make our work more efficient by automating repetitive tasks, allowing us to focus on higher-value activities for our clients. However, it’s essential to use AI intelligently. While it can save time, it can also lead to errors if relied upon blindly. That’s why we combine AI tools with our team’s expertise and judgment.Our approach is to embrace these advancements thoughtfully, ensuring they enhance our capabilities rather than replace the personalized service that clients value.
For more information, please visit:
https://www.accenture.com/us-en
