Hybrid Capital

Florida's venture capital well hasn't completely dried up. One Gulf Coast startup with big plans is hoping to tap into some funds soon.

If Jaclyn Toale and Steve Smith were seeking $15 million or even $20 million for their startup energy company, they are pretty sure they would get it — recession or no.

They say the real funding problem is in getting merely $2 million to fund a national pilot program for the renewable energy system they created for cell phone towers. The big-ticket investors out there, Toale has learned, want to put in a lot of money up front so they can reap the rewards if and when the company succeeds.