Andromeda Ventures and UCF Business Incubation Program Launch Strategic Partnership to Accelerate Dual-Use Technologies

Partnership connects Central Florida's innovation ecosystem with venture capital, expertise, and commercialization pathways for technologies with applications on Earth and in space

WASHINGTON, April 30, 2026 /PRNewswire/ -- Andromeda Ventures and the UCF Business Incubation Program announced a strategic partnership to accelerate dual-use technology commercialization and strengthen Central Florida's position as a global hub for advanced industry.

The partnership connects one of Florida's most active university-anchored incubation ecosystems with a venture firm focused on scaling technologies aligned with critical capability gaps across government and commercial sectors.

"It's no secret we're in a new dawn for the space industry, which is creating tremendous opportunities for companies throughout Central Florida," said Rafael Caamano, interim director of Innovation Districts and the Incubator at the University of Central Florida. "Bringing in the team at Andromeda to help our companies and the incubator represents a new wave of partnerships the incubator is looking to create in order to help grow the Central Florida economy."

UCF incubator companies will access Andromeda's network of technical experts, strategic partners, and investment opportunities.

Andromeda Ventures was co-founded by Dr. Christyl C. Johnson and Christian Elam.

Johnson previously served as Associate Administrator of NASA's Space Technology Mission Directorate. Her team identified 187 technology shortfalls critical to sustained human presence on the Moon — gaps no nation has solved, and that Andromeda was established to address.

"Tomorrow's most consequential technologies won't all emerge from traditional aerospace pipelines," Johnson said. "Some will come from ecosystems like this one, where cross-disciplinary teams are solving hard problems from the ground up. The UCF Business Incubation Program has built something desperately needed in this country, and we are here to help the best of these companies move faster from innovation to impact."

Elam founded Bachmanity Capital and invested early in defense technology company Thor Dynamics.

"Central Florida has built something we don't see often: a university-anchored incubation ecosystem with genuine international reach, a strong concentration of dual-use technology companies, and a leadership team that thinks strategically about where the ecosystem needs to go," said Elam. "This collaboration is about building a shared pipeline, so the right companies get the right capital, guidance, and connections at the right time."

The collaboration will focus on venture pipeline development, commercialization support for select incubator companies, venture readiness advisory, and international market positioning — including companies entering the U.S. through UCF BIP's Soft Landing Program.

Andromeda Ventures invests in technologies delivering immediate value on Earth while addressing mission-critical demands, supporting portfolio companies through technical validation, regulatory insight, strategic partnerships, and access to global markets. The collaboration is expected to grow as both organizations develop pathways from innovation to venture-scale outcomes.

Media Contacts:

Andromeda Ventures: Tony Chamblee, 310-770-4313, [email protected]

UCF Business Incubation Program: Alan Byrd, 407-415-8470, [email protected]

About Andromeda Ventures: Andromeda Ventures invests where the future is being built — at the convergence of space exploration, defense modernization, and resilient infrastructure. Leveraging government-validated technology roadmaps, deep strategic partnerships, and an experienced leadership team, Andromeda backs mission-critical technologies that deliver immediate impact on Earth while enabling humanity's expansion beyond. For more information, visit www.andrventures.com 

About the UCF Business Incubation Program: The University of Central Florida Business Incubation Program is a community resource that provides early-stage companies with the tools, training and infrastructure to become financially stable, high growth/impact enterprises. Since 1999, this award-winning program has provided vital business development resources resulting in over 300 local startup companies reaching their potential faster and graduating into the community where they continue to grow and positively impact the local economy. www.incubator.ucf.edu.

SOURCE Andromeda Ventures