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Regional Economic Impact Workshop
                   LaPorte, Indiana
                   October 6, 2011
•  Five asset networks of an effective innovation &
   entrepreneurship system
•  Four stages of entrepreneurship and innovation
   network development
•  The role of the incubator/accelerator as a network
   hub
•  Qualities & responsibilities of a network leader
•  How to move an innovation & entrepreneurship
   network to the next level in its development
Innovation and Entrepreneurship is like…
•  The Horse – The Innovation
•  The Horse – The Innovation
•  The Jockey – The Entrepreneur
•  The Horse – The Innovation
•  The Jockey – The Entrepreneur
•  The Track – The Community
K-12                                                                    Technology Pipeline
Workforce Training                                                      Economic Gardening
Community Colleges                                                      Capital
Universities                                                            Mentoring




                      Partnerships  Strategic Alliances  New Models




Broadband                                                               Marketing
Physical Space                                                          Advertising
Network Development
                                                                        Social Media
                                                                        Buzz
•  Build world-class brainpower
•  Channel some of that brainpower toward
   innovation and entrepreneurship
•  Create quality, connected places where “hot
   spots” develop
•  Create a buzz with new narratives (both internal &
   external)
•  Get creative with new ways to collaborate
20 Mentors
10 Weeks
Cash
Free Stuff
Demo Day
Clark Atlanta University
Emory University
Georgia Institute of Technology
Georgia State University
Georgia Health Sciences University
University of Georgia
•    Entrepreneurship Peer Networks
•    Energizing Entrepreneurship
•    Companies to Watch
•    Eureka Winning Ways
•    Zoning for Home-Based Businesses
•    Business Plan Competitions
•    STEM Entrepreneurship Camp
•    K-12 Teacher Training
•    Economic Gardening
•    Entrepreneurship Certificate
     Program
•    Technology Showcases
•    Angel Network Events
•    Skunkworks
•  How was innovation & entrepreneurship talent
   developed?
•  What sort of support was offered?
•  What new narrative was developing?
•  How was Inventrek a quality, connected “Hot Spot?”
•  What sort of collaborations were developed?


 http://www.youtube.com/watch?v=vI9LpKVQEs4
•    227 K-12 teachers trained to teach entrepreneurship
•    1,536 students (future entrepreneurs) enrolled in
     entrepreneurship programs
•    1,851 existing and emerging adult entrepreneurs trained
•    654 new products, services, and top-line growth ideas created
•    102 business plans developed
•    13 new start-up business launched
•    361 jobs created
•    $3.5 million in industry cost savings realized
•    $1.6 million in industry sales growth
•    $4 million in industry sales retained
ACEnet provides a wide range of
assistance to food, wood, and
technology entrepreneurs in 29
counties of Appalachian Ohio
Had a hunch that there was the potential for a network of
tomato producers. Mapped the network by asking existing
and emerging food professionals three questions:

•  From whom do you get new ideas that benefit your
   work?
•  From whom do you access expertise that improves
   your operations?
•  With whom do you collaborate?
Kitchen Incubator became a
hub for restaurateurs and
farmers
•  Farmers Market
•  Outdoor Café
•  Restaurant Association
•  20-plus boutique salsa businesses in the region
•  $700 annual sales among new businesses
•  Trains over 200 existing and emerging entrepreneurs
   annually
•  350 gallons and 445 lbs of fresh and preserved foods
   delivered to the region’s food pantries each year
OK, fair enough, but…
  –  What hubs or potential hubs to you have?
  –  In what ways are these hubs different?
  –  In what ways are these hubs similar?
  –  What lessons can you learn from this case study?




                                     
NEW NETWORK LEADER ROLE             RESPONSIBILITIES
Convener                     Maintains the collaborative spaces

Connector                    Links people, networks, and assets

Civic Entrepreneur           Sees new opportunities

Guide, Mentor                Maps complex processes
Strategist                   Reveals larger patterns

Synthesizer                  Distills conversations into key points and
                             patterns
Storyteller                  Uses social media and other tools to
                             create new narratives
•    ACENet - http://www.acenetworks.org/
•    Capital Factory - http://www.capitalfactory.com/
•    Entrepreneurship Hall @ RIT - http://www.rit.edu/research/simonecenter/
•    Flagship2 - http://www.charlestonflagship.com
•    Georgia Research Alliance - http://www.gra.org/
•    Kokomo Innovates - http://www.youtube.com/watch?v=vI9LpKVQEs4
•    Purdue Research Park - http://www.purdueresearchpark.com/
Scott Hutcheson
                     Purdue University
Purdue Extension & Purdue Center for Regional Development
       Burton D. Morgan Center for Entrepreneurship
             1201 W. State Street, Room 227
                   765-479-7704 (mobile)
                  hutcheson@purdue.edu



                                               www.pcrd.purdue.edu
                                             www.pcrd.typepad.com
                                      www.facebook.com/PurdueCRD
                                               www.twitter.com/pcrd

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Incubator, Accelerators, Tech Parks, and Other Hubs for Innovation & Entrepreneurship

  • 1. Regional Economic Impact Workshop LaPorte, Indiana October 6, 2011
  • 2. •  Five asset networks of an effective innovation & entrepreneurship system •  Four stages of entrepreneurship and innovation network development •  The role of the incubator/accelerator as a network hub •  Qualities & responsibilities of a network leader •  How to move an innovation & entrepreneurship network to the next level in its development
  • 4.
  • 5. •  The Horse – The Innovation
  • 6. •  The Horse – The Innovation •  The Jockey – The Entrepreneur
  • 7. •  The Horse – The Innovation •  The Jockey – The Entrepreneur •  The Track – The Community
  • 8. K-12 Technology Pipeline Workforce Training Economic Gardening Community Colleges Capital Universities Mentoring Partnerships  Strategic Alliances  New Models Broadband Marketing Physical Space Advertising Network Development Social Media Buzz
  • 9. •  Build world-class brainpower •  Channel some of that brainpower toward innovation and entrepreneurship •  Create quality, connected places where “hot spots” develop •  Create a buzz with new narratives (both internal & external) •  Get creative with new ways to collaborate
  • 10.
  • 11.
  • 13.
  • 14.
  • 15. Clark Atlanta University Emory University Georgia Institute of Technology Georgia State University Georgia Health Sciences University University of Georgia
  • 16. •  Entrepreneurship Peer Networks •  Energizing Entrepreneurship •  Companies to Watch •  Eureka Winning Ways •  Zoning for Home-Based Businesses •  Business Plan Competitions •  STEM Entrepreneurship Camp •  K-12 Teacher Training •  Economic Gardening •  Entrepreneurship Certificate Program •  Technology Showcases •  Angel Network Events •  Skunkworks
  • 17. •  How was innovation & entrepreneurship talent developed? •  What sort of support was offered? •  What new narrative was developing? •  How was Inventrek a quality, connected “Hot Spot?” •  What sort of collaborations were developed? http://www.youtube.com/watch?v=vI9LpKVQEs4
  • 18. •  227 K-12 teachers trained to teach entrepreneurship •  1,536 students (future entrepreneurs) enrolled in entrepreneurship programs •  1,851 existing and emerging adult entrepreneurs trained •  654 new products, services, and top-line growth ideas created •  102 business plans developed •  13 new start-up business launched •  361 jobs created •  $3.5 million in industry cost savings realized •  $1.6 million in industry sales growth •  $4 million in industry sales retained
  • 19. ACEnet provides a wide range of assistance to food, wood, and technology entrepreneurs in 29 counties of Appalachian Ohio
  • 20. Had a hunch that there was the potential for a network of tomato producers. Mapped the network by asking existing and emerging food professionals three questions: •  From whom do you get new ideas that benefit your work? •  From whom do you access expertise that improves your operations? •  With whom do you collaborate?
  • 21.
  • 22. Kitchen Incubator became a hub for restaurateurs and farmers
  • 23.
  • 24. •  Farmers Market •  Outdoor Café •  Restaurant Association
  • 25.
  • 26.
  • 27. •  20-plus boutique salsa businesses in the region •  $700 annual sales among new businesses •  Trains over 200 existing and emerging entrepreneurs annually •  350 gallons and 445 lbs of fresh and preserved foods delivered to the region’s food pantries each year
  • 28. OK, fair enough, but… –  What hubs or potential hubs to you have? –  In what ways are these hubs different? –  In what ways are these hubs similar? –  What lessons can you learn from this case study? 
  • 29. NEW NETWORK LEADER ROLE RESPONSIBILITIES Convener Maintains the collaborative spaces Connector Links people, networks, and assets Civic Entrepreneur Sees new opportunities Guide, Mentor Maps complex processes Strategist Reveals larger patterns Synthesizer Distills conversations into key points and patterns Storyteller Uses social media and other tools to create new narratives
  • 30.
  • 31.
  • 32. •  ACENet - http://www.acenetworks.org/ •  Capital Factory - http://www.capitalfactory.com/ •  Entrepreneurship Hall @ RIT - http://www.rit.edu/research/simonecenter/ •  Flagship2 - http://www.charlestonflagship.com •  Georgia Research Alliance - http://www.gra.org/ •  Kokomo Innovates - http://www.youtube.com/watch?v=vI9LpKVQEs4 •  Purdue Research Park - http://www.purdueresearchpark.com/
  • 33. Scott Hutcheson Purdue University Purdue Extension & Purdue Center for Regional Development Burton D. Morgan Center for Entrepreneurship 1201 W. State Street, Room 227 765-479-7704 (mobile) hutcheson@purdue.edu www.pcrd.purdue.edu www.pcrd.typepad.com www.facebook.com/PurdueCRD www.twitter.com/pcrd