Basic Ohio Economic Developers Course
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Basic Ohio Economic Developers Course

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This presentation was given as part of a two-day course for Economic Development Professionals sponsored by the Ohio Economic Development Association and focuses on entrepreneurial approaches to ...

This presentation was given as part of a two-day course for Economic Development Professionals sponsored by the Ohio Economic Development Association and focuses on entrepreneurial approaches to economic development and highlights the success we are having with the Dublin Entrepreneurial Center.

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    Basic Ohio Economic Developers Course Basic Ohio Economic Developers Course Presentation Transcript

    • Small Business Development & ProgramsTechnology-Led Development
    • Overview & Agenda
      • Small Business & Entrepreneurs
      • Elements of Support
      • Small Business Incubation
      • Economic Developer Roles
      • Technology-Led Development
      • Technology Commercialization
      • Example: Dublin Entrepreneurial Center
      2
    • 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…
    • 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
    • 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
    • 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
    • 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…
    • Small Business Incubation
      Practitioner Objectives
      Cluster focus – technology, bioscience etc.
      Economic diversification
      Revitalization
      Others?
      What does your community need?
    • 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
    • Economic Developer Roles
      What should practitioners’ role be?
      Technical assistance?
      Financial assistance/access?
      Marketing?
      Expertise?
      Who in the room…
      Political fortitude
    • Economic Developer Roles
      Source: Business Model Generation, page 247
      by Alexander Osterwalder and Yves Pigneu
    • 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
    • Economic Developer Roles
      Set the conditions
      Marshal resources
      Connections, connections, connections
      Place
      Purpose
      Self organizing groups
      Think periphery (get out of the way)
    • 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
    • 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
    • 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
    • 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
    • City of Dublin
    • Dublin Entrepreneurial Center
    • Dublin Entrepreneurial Center
    • 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
    • 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
    • Dublin Entrepreneurial Center
    • Dublin Entrepreneurial Center
    • 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
    • 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”
    • 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
    • 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
    • Thank You
      Rick Coplin
      Venture Development Director
      TechColumbus
      Email: rcoplin@techcolumbus.org
      LinkedIn: www.linkedin.com/in/rickcoplin
      Twitter: www.twitter.com/RickCoplin
      Blog: MidWestTechBiz
      http://rickcoplin.blogspot.com
      www.techcolumbus.org
      www.DECinDublin.com
      Chaz Freutel
      Owner
      Get-U-Connected
      GreenVenturePartners
      Email: chaz@get-u-connected.com
      LinkedIn: www.linkedin.com/in/chazfreutel
      www.Get-U-Connected.comwww.DECinDublin.com