Download pdf - Supporting Entrepreneurs and Start-up Companies

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2009 Business Awards• One of 10 Great Places for Entrepreneurs to Retire: Forbes -

June 2009 • Best Places for Businesses and Careers, 2nd; Forbes Magazine

March 2009• Ranked 1st Best Place to Live and Work for Young

Professionals (pop. 100,000-200,000): Next Generation Consulting - March 2009

• Ranked 7th Best Midsize Metro in the nation: bizjournals.com -March 2009

• One of Top 20 Places to Thrive: Best Boomer Towns - February 2009

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Supporting Entrepreneurs and Start-up Companies in Fort Collins & the Region

Sponsored by the City of Fort Collins Economic Advisory Commission

Celebrating Global Entrepreneurship WeekNovember 18, 2009

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Background

• The City of Fort Collins Economic Advisory Commission is the sponsor of the event tonight.

• The EAC is interested in learning more about the efforts underway to support entrepreneurship and start up companies.

• Ultimately, the EAC will be making a recommendation to the City Council regarding the current level of programs and if additional effort may be needed.

• Introduction of EAC members…

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Panel Members

• Mark Forsyth – Executive Director, Rocky Mountain Innovation Initiative

• Mark Wdowik – President and CEO, CSU Management Corporation

• Brad Florin – Florin, LTD• Ed VanDyne – CEO, VanDyne Super Turbo Charger

• Mike Freeman, City of Fort Collins – Moderator

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City’s Economic Strategy

• Four key strategies:– Business retention, expansion, incubation and

attraction– Be proactive on economic issues– Build partnerships– Diversify the economy

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CSU Office of ResearchCSU Office of Research– Sponsored Research Office

– Manages research Collaborations, partnerships, joint ventures

CSU Research Foundation Tech Transfer OfficeCSU Research Foundation Tech Transfer Office– Technology licensing

CSU SuperClustersCSU SuperClusters– Commercialization and venture creation in targeted areas of excellence:

CSU Management CorpCSU Management Corp– Venture finance: CSU Fund I, LLC

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Business Innovation Model

Pre-Incubation Incubation Retention Expansion Attraction

Clean Energy Cluster Larimer Bioscience Cluster N. Colorado Geospatial Cluster

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Retention

City of Fort Collins

Downtown Development Authority

Fort Collins Chamber

Northern Colorado Economic Corporation

Small Business Development Center

Larimer Workforce Center

State of Colorado/OEDIT

Expansion


Downtown Development Authority






Attraction






Always Important…

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Pre-Incubation

Northern Colorado Entrepreneurship Network


RMII FastTrac

SAGE

CSU Ventures/Superclusters

CSURF Technology Transfer

Poudre Library Business Research

Incubation

Rocky Mountain Innovation Initiative

CSU Engines and Energy Conversion Lab

CSU Research Innovation Center

CSU Ventures/Superclusters

CSU Venture Fund I

Angel Capital Summit

NOCO Angels

SAGE

But More Focus Needed Here…

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Pre-Incubation

• SAGE Program– Advisors Network

• Launching Kaufmann Foundation – FastTracs– Rapid business development services

• CSU Ventures – SuperClusters– Early alignment of research & development

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Business Incubation

• Incubation Services:– Rocky Mountain Innovation Initiative (RMII)

• Innovation based companies– Colorado State University’s Research Innovation

Center (RIC) • Infectious Disease research

– Engines and Energy Conversion Lab• Engines efficiency, alternative energy,

smartgrid

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30,000 sq feet3 StoriesLEED GoldSolar (PV)Elec. Car Charging

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CSU’s Research Innovation Center• The 72,000-square-foot, $53 million facility will be the

latest addition to CSU’s Infectious Disease Research Center. It will be located on the Foothills Campus. The center will provide a hub for university scientists and students to partner with businesses to develop new products to treat and diagnose infectious diseases.

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Energy & Engines Conversion Lab• EECL awarded over $20M in research• EECL employs 12 professional research staff, as well

as 50 graduate and undergraduate students• The EECL awarded over $55M in funding

commitments for spin-off companies employing over 70 professional engineers, managers, and scientists

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Targeted Industries

• Clean Energy– DEN-ZED initiative

• Biotechnology– RMI2 space, Research Innovation Center

• Software– GIS focused

• Uniquely Fort Collins– Be Local, Shop Fort Collins First

• Exploring Water based cluster

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Business Financing

• Traditionally difficult in Northern Colorado• Efforts underway to improve access to funding…

– Regional Venture financing opportunities• NoCoAngels• Northern Colorado Rockies Venture Club• Angel Capital Summit

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Source: QCEW; CSU Regional Economist

Technology Cluster Employment Trend

4,356

6,4731,831

1,615

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

2002 2003 2004 2005 2006 2007 2008

SoftwareHardware


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Clean Energy Cluster Employment Trend

2,133

1,923

0

500

1,000

1,500

2,000

2,500

2002 2003 2004 2005 2006 2007 2008


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Bioscience Cluster Employment Trend

1,014

1,782

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

2002 2003 2004 2005 2006 2007 2008


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Panel Questions…• What is working well now?• What are our challenges?

• Questions from the audience – discussion…

• What are the top one or two things that could be implemented to improve our ability to support entrepreneurs and start-up companies?

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Closing

Mike Freeman, Chief Financial Officer970.416.2259 [email protected]

www.fcgov.com/business