Happy Thursday! This is Mind Your Business.

Think of Tampa Bay’s innovation ecosystem like a river delta. Multiple channels flow toward the same destination, some carrying more volume than others, all shaped by forces upstream. The first half of the year is still not over but we’re getting close and can’t wait to see what develops.

Here's what moved this week…

🔔 WHAT JUST MOVED
Recent news from the last week shaping Tampa Bay right now.

Here’s what’s on the board:
🚁 AI Robotics Company Enters Pentagon's Drone Initiative
🧠 Biotech Startup Raises Millions For Psychedelic Research Alternative
🚀 Maritime Launch Platform Developer Secures Strategic Investment
🏢 Healthcare Tech Company Brings 40+ Jobs to St. Pete
🔐 Cybersecurity Leadership Shuffle Signals AI Strategy Shift
🎓 Academic Accelerator Partnership Opens Innovation Pipeline

Scroll down for the signal…

🎯DEFENSE TECH / AI

XTEND, an AI-powered autonomous robotics company, just secured a coveted spot in the Pentagon's massive Drone Dominance Program. The Department of War initiative aims to procure over 200,000 drones by 2027, with a total program value hitting $1 billion.

The company will demonstrate its XOS human-guided autonomous operating system at Camp Grayling, Michigan this summer as part of Phase II trials. XTEND is currently merging with publicly-traded JFB Construction Holdings in an all-stock deal backed by strategic investors. Once the merger closes mid-2026, the combined entity will rebrand as XTEND AI Robotics and trade under ticker XTND.

The defense contract news sent JFB shares soaring 18.92% on announcement day, adding roughly $15 million to the company's market cap. The stock hit a peak gain of 63.6% during the session, signaling strong investor appetite for defense tech plays.

⚡Why It Matters: Defense tech represents a massive opportunity for AI startups, and this contract validates the commercial viability of autonomous drone systems that could have civilian applications down the road.

🧠BIOTECH / FUNDRAISING

Tampa biopharmaceutical startup Psilera just closed an oversubscribed $8.8 million seed extension, bringing serious momentum to their mission of reimagining mental health treatment. The company is developing PSIL-006, a neuroplastogen that aims to deliver the therapeutic benefits of psychedelics without the hallucinations or heart risks that come with traditional compounds.

Co-founders Chris Witowski and Jackie von Salm launched Psilera in 2019 with a bold vision: what if you could get the brain-rewiring benefits of psychedelic therapy in a more controlled, safer package? Now they're planning to take their lead compound into human trials next year, potentially opening new doors for treating depression, PTSD, and other mental health conditions that have proven resistant to conventional approaches.

The timing feels right as investors and regulators show growing interest in psychedelic medicine, but Psilera's approach of reducing side effects while maintaining efficacy could give them a significant edge in what's becoming a crowded field.

⚡Why It Matters: Tampa Bay continues building its biotech credentials with companies tackling some of healthcare's biggest challenges, showing local founders can compete on the cutting edge of medical innovation.

🧠TICKLE YOUR BRAIN

I connect classrooms to accelerators, health systems to startups, and regions to capital.
I am not a person, place, or platform.
But without me, innovation stays isolated in silos.

What am I?

(Answers at the bottom of the newsletter)

Pause for some deep thinking…

🚀SPACE / DEEP TECH

Tampa-based Seagate Space just landed a strategic investment from Space Florida's Project Manta to develop offshore launch platforms. The company will build prototype modules that demonstrate their maritime launch technology, designed to support rockets from Firefly Aerospace and Vaya Space.

The floating launchpad concept addresses a growing bottleneck in the space industry: limited coastal launch sites. By moving operations offshore, companies can launch more frequently without the noise and safety restrictions that come with land-based facilities. Seagate's approach could give Florida a significant edge in the increasingly competitive commercial space race.

This investment signals Florida's commitment to maintaining its position as America's space coast, even as other states try to muscle in on the action. For Seagate Space, it's validation that their unconventional approach to solving launch capacity problems has serious backing.

⚡Why It Matters: Tampa Bay's space tech ecosystem is gaining momentum, and innovative solutions like floating launchpads could position local companies at the forefront of the next phase of commercial space development.

🔐CYBERSECURITY / LEADERSHIP

Cybersecurity company Rapid7 just handed the CEO reins to tech veteran Wael Mohamed, with former chief Corey Thomas sliding into the Executive Chairman role. The leadership shuffle comes as the Boston-based firm doubles down on artificial intelligence for security operations centers while dealing with some stock market headwinds.

The timing isn't coincidental. Rapid7 is betting big on AI-powered security tools as cyberattacks get more sophisticated and companies need smarter ways to detect threats. Mohamed steps into the top job at a critical moment when the cybersecurity industry is racing to integrate AI capabilities that can actually keep pace with evolving digital threats.

⚡Why It Matters: Tampa Bay's growing tech scene includes plenty of startups building security and AI tools, and leadership changes at major players like Rapid7 often signal where the industry is heading next.

😂MEME STREET

🎓 ECOSYSTEM / INNOVATION

St. Petersburg College and accelerator Tampa Bay Wave formed a partnership this week to expand regional innovation and workforce opportunities. SPC students and faculty will gain access to Tampa Bay Wave's programming and entrepreneurial resources.

The partnership connects SPC's College of Business, led by Dr. Emmanuel Hernandez-Agosto, with Tampa Bay Wave's startup ecosystem. Students can now participate in accelerator programming while faculty can engage with entrepreneurs and mentors in the Wave's network.

The interesting part is timing. As Tampa Bay's startup scene matures, educational institutions are becoming more intentional about connecting students to entrepreneurship before graduation. This partnership creates a pipeline from classroom to accelerator to startup.

⚡Why It Matters: Tampa Bay is building infrastructure that connects education directly to entrepreneurship. This partnership could become a model for how colleges and accelerators collaborate to develop regional talent.

🏢HEALTH TECH / NEW IN TOWN

Rectangle Health, a New York-based healthcare payments company, just opened a 12,500-square-foot sales hub in St. Petersburg's Gateway area. The facility at 100 Fountain Parkway N. already houses over 40 employees who started working there in recent weeks, with plans to scale up to 100 team members.

The company chose St. Pete after a nationwide search, citing the younger population interested in job growth and strong talent pool. Chief Business Officer Scott LoPresti says they've been recruiting locally since January, focusing on sales development reps and practice solutions consultants who work with small to medium healthcare practices. Rectangle Health serves over 36,000 healthcare providers with payment and compliance software solutions.

The timing worked out well since Rectangle Health already had a partnership with healthcare payment company Zelis, which also has St. Pete operations. A ribbon cutting is scheduled for June 8 with Mayor Ken Welch attending.

⚡Why It Matters: This expansion shows how Tampa Bay's growing reputation for tech talent is attracting established companies to relocate operations here, creating quality jobs in the healthcare technology sector.

WORTHY MENTIONS: UPDATES, EVENTS, RESOURCES, ETC…

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