Basic Ohio Economic Developers Course

Small Business Development & Programs

Technology-Led Development

• Small Business & Entrepreneurs• Elements of Support• Small Business Incubation• Economic Developer Roles• Technology-Led Development• Technology Commercialization• Example: Dublin Entrepreneurial Center

Overview & Agenda

2

3

Small Business & Entrepreneurs

• Economies are driven by small businesses– 4,000 and 7

• Large businesses get the attention• New business generation• Who’s in the garage today?• Where are businesses located?• Focal points…

4

Small Business & Entrepreneurs

• Unemployed talent pool– Difficult replacing prior position and salary– Starting a small business helps displaced

workers to get back into the economy. Job for 1

– Many would never have considered starting their own business otherwise

– Have corporate know how, lack start-up insight

5

Small Business & Entrepreneurs

• Characteristics– Innovative, nimble, non-descript– Strong community ties– Resource scarcity

• Capital, knowledge, time, experience, access

– Likely to falter and fail– Generate wealth slowly– Need support

6

Elements of Support

• Technical assistance– Business Plan, Grant Apps, Staff Development, marketing

and product development, improve design and process, bookkeeping

• Providing business space– Affordable, flexible terms, easy termination, resources

• Financial assistance– Preparation, connecting

7

Small Business Incubation

• Entrepreneurial centers, accelerators & incubators – Oh my!

• What is incubation?– Place, rent levels, terms– Expertise– Shared support services– Networking and connection opportunities

• Timelines…

8

Small Business Incubation

Practitioner Objectives• Cluster focus – technology, bioscience

etc.• Economic diversification• Revitalization• Others?

• What does your community need?

9

Cluster Based Economic Development

• The Columbus Region is recognized for the following clusters:– Transportation/Logistics, Business & Professional Services,

Financial Services, Advanced Manufacturing, Automotive, Personalized Healthcare, Tourism, Arts & Entertainment

– Government

• The talent and the support structure, related to these clusters, help small business growth– Software & Support Firms, Network of financial institutions

and VCs, a Major Research University, and 120,000 local college students

10

Economic Developer Roles

• What should practitioners’ role be?– Technical assistance?– Financial assistance/access?– Marketing?– Expertise?

• Who in the room…• Political fortitude

11

Economic Developer Roles

Source: Business Model Generation, page 247by Alexander Osterwalder and Yves Pigneu

12

Economic Developer Roles

• Partner!

• Practitioners can’t be everything to all people

• Need for collaborators to fill in gaps• Create an environment where it all can

come together, easy access

13

Economic Developer Roles

• Set the conditions– Marshal resources– Connections, connections, connections– Place– Purpose– Self organizing groups– Think periphery (get out of the way)

14

Economic Developer Roles

• Resources– CentralOhioEntreprenuers.org– NBIA www.nbia.org– Community Capitalism by Daniel Gross and Heather

Smith

– Entrepreneurial Signature Programs– Small Business Development Centers– SCORE– Local entrepreneurs, business leaders– Bankers, lawyers, accountants

15

Technology-Led Development

• Third Frontier Program• Ohio Tech Angels – 2nd largest in

America• TechStart: $22.5 million venture

development program• Coached 1,153 startups over five years• Invested 16.4M in 93 technology

startups• Raised $338M for funded/incubated

16

Technology-Led Development

• TechColumbus– Award winning technology incubator– 750+ members – communities, businesses

and individuals– The nation’s only non-profit IT testing lab

and data center– 15 county region– Satellite community entrepreneurial

centers

17

City of Dublin

• TechColumbus partnership• Demographics• Economic Development Team

– 3 City employees, 7 consultants

• DEC Team– 3 City employees, 4 entrepreneurial contractors

• Key initiatives• Setting conditions

18

City of Dublin

19

Dublin Entrepreneurial Center

20

Dublin Entrepreneurial Center

21

Dublin Entrepreneurial Center

• Not an Incubator??• Economic Development Team initiative• 45,000 square feet – 4 floors• April 2009 - Grand opening (95%

empty!)• 2009 Goals – Brand Facility, Flexible Space, Establish

Programming & Resources

• 22 companies by end of 2009

22

Dublin Entrepreneurial Center

• April 2010 – 1 year anniversary• 2010 Goals – Continue ‘09 Goals

– Plus expand to 2nd Floor, develop Green Integrator

• Green Integrator – 12 green companies• 2010: 200+ events & 3,000+

attendees• Entrepreneur Camp – Dublin

Apprentice• 1st Quarter 2011: 53 companies

23

Dublin Entrepreneurial Center

24

Dublin Entrepreneurial Center

25

Dublin Entrepreneurial Center

• How?– Think, plan, and speak forward– Deliver– Team

• “We” accomplishes more than “I”• No room for egos or agendas

– Flexibility– Market the audacious & exceed

expectations

26

Dublin Entrepreneurial Center

• Why is it successful?– Setting the conditions– Vision and direction– Hands-off leadership– Committed team– Self-organizing groups– Diversity – Talent Rich– “Arms wide open”

27

Dublin Entrepreneurial Center

• What is important?– Company success– On-site expertise– Community– Collaborators

• SBDC, CIFT, ALT, JASCO, TechLife Ohio, BW3’s, Worley Law,• Possitivity, Huntington Bank, Sunny Street Café, Vivid Front• High Speed Air, Commercial One Realty

– Education and networking– Branding

28

Dublin Entrepreneurial Center

• What is being planned for 2011?– Global Economic Development Center

• Expansion to 1st floor• Leveraging international demographics• Identifying resources, Collaborators, external

groups• Hosting initial events beginning in April

– Expansion of Entrepreneur Camp– Café?– The Sky is the Limit

29

Thank You

Rick CoplinVenture Development

Director

TechColumbus

Email: rcoplin@techcolumbus.org LinkedIn:

www.linkedin.com/in/rickcoplin Twitter: www.twitter.com/RickCoplin

Blog: MidWest TechBizhttp://rickcoplin.blogspot.com

www.techcolumbus.orgwww.DECinDublin.com

Chaz FreutelOwner

Get-U-ConnectedGreenVenturePartners

Email: chaz@get-u-connected.com LinkedIn:

www.linkedin.com/in/chazfreutel www.Get-U-Connected.com

www.DECinDublin.com