Who is Matt Hurley, and how does this 21-year-old have the financial wherewithal to back a multi-million-dollar project?

That's the question on the minds of many people as the Fort Myers man approaches the closing table to buy The Atrium in south Fort Myers with a plan to transform it into an innovative space for the startup business community.

Hurley is founder and chief investment officer of the H2 Organization, “with a vision of executing timeless investments that empower innovation,” according to the profile on his website. He previously led Youngbloods Inc., a private holdings firm that changed its name to the H2 Organization.

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Hurley paints himself as a person looking to make a difference in Fort Myers, his beloved hometown.

“I think people who really know me can attest to how much I care about this community,” he said. “I love Southwest Florida. I hope to one day get married and raise a family here. I want something that is going to fuel our tech investments, a centralized hub in the area.”

When people hear talk of millions of dollars in investment and a 21-year-old, it raises eyebrows. So where is all this money coming from to back the sale and renovation?

Hurley said he is an angel investor who leads a fund with the bulk of its investments in startups in the Northeast and the Midwest via Series A and seed financing.

Series A financing is the first round of financing given to a new business once seed capital has already been provided. This is typically when outside investors are given company ownership for the first time.

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Hurley was asked how his concept would differ from such entities as The Rocket Lounge in Fort Myers, the Naples Accelerator and Endeavor Innovative Workspaces in south Lee County.

“There’s always got to be a starting point and they’ve done a great job with that,” he said. “Everybody has their place in the market. I love that whole ecosystem mentality. It takes all kinds to make the world go around.”

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Most of those entities, he said, have been focused on meetups, making connections and fostering collaborations. While that is great, he said it only goes so far because the area has struggled to attract venture capital.

“That’s all important in terms of educating people to the process, but what’s key now is guys stroking checks,” he said. “We’ve got to move toward the execution phase. Our space is really going to be an incubator. Facilitate the idea, execute it, and bringing folks to market. That’s real economic development. That’s where you really start to change the game.”

Hurley sees his project as the “next step” in the community’s startup evolution. One differentiating factor in his space is a focus on luring startups and venture capitalists from outside the area.

The revamped center will have 42,000 square feet exclusive to startups, with the rest set aside for corporate innovation offices for larger companies, service providers and amenities. Different size spaces will accommodate startups with one to 12 people. Plans also call for a 12,000-square-foot restaurant and 6,000 square feet of retail.

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Ground-breaking is expected next month, with the goal of moving the first new tenants in by next summer and finishing the renovation by the end of next year.

“We’re going to spend as much money as it takes to do it right,” he said. “We have a general idea of cost, with renovation costs far north of $10 million.”

Hurley said he does not view this as a real estate investment. There will be membership fees, but he said those will mostly go to maintain the infrastructure.

“We don’t have real estate investors who are looking for a return on it,” he said. “Our office is funding the project.”

Success story: Young bloods turn idea into thriving digital company

Six years ago, Hurley started Torchlight Productions, a website design and development firm.

He said he sold off most of the accounts to a “large entity” at the top of the social advertising market.

“Torchlight was a grand slam,” he said. “In 2015 we were one of the fastest growing companies in the country. The key is timing in all of those things.”

Hurley said he has worked at least 40 hours a week since the age of 14.

“I’ve been really blessed to have success at a young age and I’m not going to apologize for that,” he said. “The best thing you can do is to be humble. Someone has to step up and be the leader for the next generation of the area. My businesses have allowed me to sell off assets for what some people would call a large amount of money.”

Man with plan

Hurley said the community’s response to the H2 project has been mixed.

“The people who want to see growth in the market, they’re excited by the idea of growth, but you always have people who like things the way they are,” he said.

While Naples has more billionaires per capita than anywhere else in the country, Hurley said “it’s all dead money,” meaning it’s not being invested in the local market. He is counting on people in the area with deep pockets to begin to invest in startups here.

“You’ve got to have more active money,” he said. “There has to be follow-up money behind us. Other people have to come in and step up. It’s my hope that it will happen.”

One challenge is that most of these wealthy people and other, more traditional movers and shakers are not embedded in the local tech scene. That’s why he wants people in the legal and accounting professions, for example, to have a presence at the new center. If that type of immersion doesn’t happen, he sees this area’s future dimming.

“Who are your clients 10 or 15 years from now?” he asked, calling out business and educational leaders. “Leaders of the community should start playing a role in the startup community. Everybody’s sort of got to get on board. I want everyone to have a seat at the table in what we’re doing. It’s a different world now.”

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Hurley’s approach rubs some people the wrong way, with tenants at The Atrium using words such as arrogant, cocky and shady to describe him. He mostly shrugs off such characterizations.

“There’s always room for personal growth,” he said. “I could always work to be a more approachable guy, but I’m a very accessible person.”

It’s precisely that accessibility, he said, that has made him the prime target of disgruntled tenants, even before he closes on the sale.

“It’s because I’m the only one who has been there,” he said.

Hurley went under contract on the property in July, then entered a 60-day period of due diligence, which he said ended the day before Hurricane Irma hit.

“The storm really changed everything,” he said.

Instead of a return-on-investment directly from the property, Hurley plans to reap returns by getting first looks at startups in the space, giving him the chance to be among the first for early investment.

“I’m not looking at today’s rent,” he said. “I’m looking at what this inspires.”

Connect with this reporter: email clogan@news-press.com and follow on Twitter @caseylo