StartupPB - March 2014

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StartupPB - March 2014

  1. 1. Startup Palm Beach Entrepreneur Resource Center & Incubator March 2014
  2. 2. STARTUP PALM BEACH • Entrepreneur Resource Center, Incubator and Coworking space opened January 2014 • Event driven platform for startups, mentors and investors • ATTRACT • EMPOWER • INVEST
  3. 3. Economic Impact • Companies received commitments of over $250,000 in funding • Hosted over 60 events • Educational Workshops • Mentorship Programs • Financing Initiatives
  4. 4. STARTUP PALM BEACH INITIATIVES THINK! EDUCATION BUILD! MENTORSHIP GROW! FUNDING IDEATION, INSPIRATION STRATEGY OPERATION BUSINESS PLANNING CREATION SCALE COMPETITION ESTABLISHMENT MARKETING
  5. 5. The Big Picture • In the last 50 years we have entered the Golden Age of Innovation • Every industry is getting disrupted • New advancements in technology are changing the way we do business and creating new opportunities • Starting a business has never been easier
  6. 6. State of Florida Business Friendly Modern Infrastructure Thriving Economy No personal income tax #1 Infrastructure #1 innovation #2 best state for business 15 deepwater seaports, 19 commercial airports #3 for high-tech #2 best business climate 12,000+ miles of highway #4 in attracting private equity #2 for access to capital and funding 2 of worlds busiest airports: MIA, MCO #4 in women owned business
  7. 7. STATE OF FLORIDA
  8. 8. WEST PALM BEACH • Strong foundation for economic growth through entrepreneurship • Support from City of West Palm Beach • Economic Development Director Chris Roog is focused on promoting entrepreneurship • Downtown Development Authority • Raphael Clemente is an innovative thought leader, visionary and advocate • Untapped Resources • Business Development Board • Enterprise Florida
  9. 9. Empowering Entrepreneurs • Startup Palm Beach offers educational workshops, mentorship programs, and funding initiatives • Foster creativity and design, facilitate operations and stream line efficiencies • Teach the necessary skills to manage and grow small business • Supporting investment through strategic introductions
  10. 10. Leadership Opportunity • Fragmented talent pool competing for resources • Lack of communication • Lack of leadership • Brain drain
  11. 11. Vision • Become the centrifugal force for entrepreneurship in West Palm Beach • Welcome entrepreneurs and maintain a collaborative and constructive environment for startups • Create a platform for personal and professional growth for innovative and determined individuals • Attract, embrace, and retain top talent • Build and grow entrepreneur ecosystem
  12. 12. ENTITY STRATEGY TEAM STATUS INVESTMENT FUND INVEST ANGELS, VCs PROOF OF CONCEPT ENTREPRENEUR RESOURCE CENTER EMPOWER STARTUP PB ACTIVE 501C-3 ACCELERATOR ATTRACT TBD UNDER CONSTRUCTION
  13. 13. THINK Track Record • Dozens of events • Launched companies through StartupWeekend • 1st Live In-Person Crowdfunding Event in South Florida • Distributed > $10,000 to Startups No-Strings Attached
  14. 14. BUILD Track Record • Opened ~3,000 square foot facility modeled after MassChallenge design, promoting playfulness, collaboration and competition between startups • Hosting 5 freelancers, 10 startups, 1 non-profit • 12 coworking members
  15. 15. GROW Track Record • Member company KLEO received over $200K in funding and found a potential new employee • Launched 11 companies at StartupWeekend, 3 still operating after 4 months
  16. 16. EVENTS • Startup Palm Beach has a full calendar including lectures, round tables, networking and social events • Each event is geared toward a specific purpose to foster education and professional development • Events help members get connected to key resources and address their business challenges
  17. 17. GET INVOLVED • Share your story - enter Blog Challenge • Become a member • Connect with others • Build a business • Track your progress
  18. 18. CHALLENGES • CAPITALIZATION • Business model does not support strong revenue • Various revenue streams yet to be explored (pop-up retail, e-commerce) • TIME MANAGEMENT • Aspirational goals of making impact take time • Realistically difficult to execute and manage all initiatives without fundraising and building a team • CHEMISTRY • We are faced with a challenge of educating, enchanting and engaging across the spectrum • Politics and egos at play • LACK OF EXPERIENCE • Uncertainty around deliverables from meetings
  19. 19. Community Partners • City of West Palm Beach • Chamber of Commerce • Downtown Development Authority • Business Development Board • Palm Beach Atlantic University • Northwood University
  20. 20. Advisors • Akhil Nigam, Founder, Mass Challenge • Ken Klein, Director of Sales, Comcast Spotlight • Sally Outlaw, Founder, Crowd Founding Academy • Roy Assad, CEO, Human Growth Capital • Richard Callahan, Former General Counsel, Oxbow Corporation • Jere Doyle, Jere Doyle Enterprises • Paul Leone, President, The Breakers Hotel

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