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Incubator Presentation

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  • Creating Successful Business Models for Incubators Achieving financial sustainability is a key goal for most incubation programs. During this session, presenters from Europe and the U.S. will describe successful incubator business models, explain methods for creating income streams and share best practices for establishing partnerships.
  • Transcript

    • 1. A Successful Business Model for Incubators
    • 2.
      • Business Incubator Center
      • Grand Junction, Colorado
      • Chris Reddin, Director
    • 3.
          • Timing is everything.
          • Know your market.
          • Synergize.
          • Location, location, location.
          • Endurance requires an entrepreneurial mindset.
    • 4. 1. Timing is Everything
      • Utilize the benefits of an economic downturn.
        • "Black Sunday" occurred on May 2, 1982 when Exxon pulled out of oil shale in Western Colorado.
        • Western Colorado Business Development Corporation was founded in 1987
    • 5.  
    • 6. 2. Know Your Market
      • Seek first to understand, then to be understood.
        • (Habit 5 of Stephen Covey’s 7 Habits of Highly Effective People )
      • What businesses are making money in this community?
    • 7.
      • Opportunities in Mesa County.
        • Manufacturing
        • Energy / Natural Extraction
        • Construction
        • Outdoor / Recreation
        • Health Care
    • 8. Grady Busse Action Publishing NBIA Outstanding Client Company 2005 Inc Magazine Top 500/5000 2007
    • 9. Owners – Tysen Manross, Daryl Becker, Larry LaMette
    • 10. Owners Dan Wulfman & Sheri Ballard
    • 11. Doug Conant Owner
    • 12.
      • Use what you’ve got:
        • Peaches
        • Wineries
    • 13.  
    • 14. Doug and June Van Houten - Gourmet Chipotle Cooking Sauce
    • 15. Lisa Stack - Owner
    • 16. "Dude (ok, he might have not said Dude), you should put your cheesecakes in a jar!" Lee Mathis Owner
    • 17. 3. Synergize
      • Create a whole that is greater than the sum of the parts.
      • Multiple revenue streams are better than one.
    • 18.  
    • 19.
      • The Business Loan Fund of Mesa County
      • Loaned more than $13.5 million.
      • Leveraged over $50.5 million in additional capital.
      • Funded more than 250 businesses.
      • 95% client success rate.
    • 20.
      • The Business Incubator Program
      • Graduated more than 200 companies.
      • Demonstrated results in supporting the fastest growing local companies.
      • Currently working with 45 clients on site.
    • 21.
      • Small Business Development Center
      • 480 business education classes since 1996.
      • 540 Leading Edge participants.
      • 500 business clients per year.
    • 22.
      • The Enterprise Zone
      • Incentives for business growth and expansion in targeted areas.
      • Tax credits to encourage Community Projects with an economic development component.
    • 23.
      • Colorado Association of Manufacturing Technologies (CAMT)
        • manufacturing support to clients
      • CEDCO/Small Business Finance Corp
        • a SBA 504 Lender
      • Office Of Economic Development and International Trade
      • Grand Valley Recreation Resources
    • 24. 5. Location, Location
      • A less than desirable location can be your greatest strength. We can say with certainty the our clients are located at the Incubator because of the program and not because of the low-cost rent.
    • 25.  
    • 26.  
    • 27.  
    • 28.  
    • 29.  
    • 30.  
    • 31. 6. Entrepreneurial mindset
      • Generate revenue
          • For fiscal sustainability
          • For cultural alignment
      • Offer a great product
          • Be clear on what you are doing and for whom.
    • 32.  
    • 33.
      • The BIC’s indirect economic impact since 1987 is estimated to be OVER A QUARTER OF A BILLION DOLLARS in revenue.
      1987
    • 34. Thank you
      • Chris Reddin
      • [email_address]
      • (970) 243-5242