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
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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…
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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
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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
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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
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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…
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Small Business Incubation
Practitioner Objectives• Cluster focus – technology, bioscience
etc.• Economic diversification• Revitalization• Others?
• What does your community need?
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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
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Economic Developer Roles
• What should practitioners’ role be?– Technical assistance?– Financial assistance/access?– Marketing?– Expertise?
• Who in the room…• Political fortitude
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Economic Developer Roles
Source: Business Model Generation, page 247by Alexander Osterwalder and Yves Pigneu
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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
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Economic Developer Roles
• Set the conditions– Marshal resources– Connections, connections, connections– Place– Purpose– Self organizing groups– Think periphery (get out of the way)
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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
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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
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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
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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
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City of Dublin
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Dublin Entrepreneurial Center
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Dublin Entrepreneurial Center
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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
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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
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Dublin Entrepreneurial Center
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Dublin Entrepreneurial Center
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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
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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”
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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
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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
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Thank You
Rick CoplinVenture Development
Director
TechColumbus
Email: [email protected] 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: [email protected] LinkedIn:
www.linkedin.com/in/chazfreutel www.Get-U-Connected.com
www.DECinDublin.com
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