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2014 February 20:  UP GLOBAL BUSINESS ENGAGEMENT
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2014 February 20: UP GLOBAL BUSINESS ENGAGEMENT

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Michael's notes from the UP conference call: 02.20.14

Michael's notes from the UP conference call: 02.20.14
My email: m@ec.co

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2014 February 20: UP GLOBAL BUSINESS ENGAGEMENT Presentation Transcript

  • 1. BUILDING PARTNERSHIPS ENGAGING BUSINESS & THE STARTUP COMMUNITY Michael Burcham President & CEO The Nashville Entrepreneur Center 615.400.7662 m@ec.co
  • 2. THE INNOVATION ECONOMY IS CHANGING THE RULES & THE GAME The innovation economy is literally sweeping away all the old rules of building communities. Entire industries are already being transformed (publishing, music, news) and others are in a significant state of change (retail, healthcare, manufacturing).
  • 3. CULTIVATING AN ENTREPRENEURIAL MINDSET Whether you work for a 10-person company, a giant multinational corporation, a not-for-profit, government agency or any type of organization in between to seize the new opportunities and meet the challenges of today’s market we need to think and act like we’re running a startup.
  • 4. DEVELOPING AN ENTREPRENEURIAL MINDSET Your Aspirations Your Assets Define your organization’s competitive advantage by combining 3 puzzle pieces: The Market Realities
  • 5. KEY PARTNERSHIP INITIATIVES AT THE EC Partners | Businesses Who Support the Idea We have worked to create a public & private partnership with businesses who impact our community, our students and our alumni. - We have over 100 business partners engaged in startup activity What worked? - Providing business partners with the opportunity to help design programming and establish areas for new business development
  • 6. HIGHLIGHTS OF BUSINESS PARTNERSHIPS • • • • • • • • • • • • Mentoring Program Skunkwerx Accelerator Catalyst | Small Biz Reboot Mayor & Chamber | Corporate Relocations & Engagement Foundations | Social Enterprise Accelerator Schools | Online Curriculum for Entrepreneurial Mindset Community | Screening of New Concepts & Ideas Legal Firms | Fixed Fee Legal Structures for Startups Accounting | Fixed Fee GAAP Accounting Workshops | Creativity & Innovation, Thinking Like a CEO, Presentation Skills Corporate Memberships to EC for Events, Programming Entrepreneurs Hall of Fame & NEXT Awards
  • 7. 5 KEY STEPS IN BUILDING BUSINESS PARTNERSHIPS 1. Align Your Shared Vision for Success You must engage in Intentional Conversation about what you wish to accomplish. What worked for Us? - Businesses become the 1st Customers of our startups. Partners see new businesses as a form of new product development - We agreed on key metrics for success for our initiative.
  • 8. 5 KEY STEPS IN BUILDING BUSINESS PARTNERSHIPS 2. Do Something for the Business Community Every business is trying to infuse Entrepreneurial Thinking into the workplace. What worked for Us? - Build your Mentoring Program in partnership with businesses. - Create an outsourced Skunkworks service for the business community.
  • 9. 5 KEY STEPS IN BUILDING BUSINESS PARTNERSHIPS 3. Connect Startups to Large Businesses Large businesses offer problem list or opportunities for new concepts. What worked for Us? - Build seed funds: Opportunities for large business to invest in ideas that solve their problems. - Take the startups to the businesses to share what’s possible.
  • 10. 5 KEY STEPS IN BUILDING BUSINESS PARTNERSHIPS 4. Leverage Community Resources to Secure Your Opportunities In Nashville, we have focused our startup | entrepreneurial efforts around the categories that represent both our large businesses and our investment community
  • 11. 5 KEY STEPS IN BUILDING BUSINESS PARTNERSHIPS 5. Organize | Create your “Front Door” We established the Nashville Entrepreneur Center as the city’s “Front Door” for entrepreneurship What worked? - We host (in conjunction with the Mayor’s office and the Chamber) visiting corporations looking to relocate to Nashville. - We have engaged Civic Groups and Civic Leaders in all our community and programming endeavors.
  • 12. SAMPLE | SPRINT PROCESS OVERVIEW Project Foundation Mon Objective: – Define and validate customer and business model and hypotheses Deliverables: – – Execution Blueprint Process Design Tue Wed Thu Objective: – Build and refine future state customer journey map and requirements Fri Objective: – Deliverables: – Refined customer and business model assumptions Customer and business model assumptions (IdeaFrameTM) – Customer profiles and needs analysis Future state customer journey map and prototypes – Future state operations requirements and process flows Final Deliverables: – Future state customer journey map – Project execution blueprint Operational constraint analysis – Develop and articulate highlevel execution blueprint
  • 13. Most Business Strategies and their Business Models are “off” by 10 Degrees … so we teach small businesses how to improve their business models.
  • 14. THE OPERATIONS OUR CORE PROGRAMMING Resources - Concept screening Mentoring - Business model training Entrepreneur Tool Kits Training - Expertise in Verticals Community - Connect startups to high impact entrepreneurs Advisory Group Development - Advocacy Capital Partners “office hours” - Measurement - - Education Gathering Place - Pitch Competition Celebrate deals community building) - Co-working space Partner with capital firms - Earned access - Investor database - Demo Day – Showcases Virtual Boards
  • 15. The Entrepreneur Center opened in June, 2010 as a Private | Public Partnership to Create Economic Growth
  • 16. Over the past 44 months we have screened over 2,000 startup ideas from entrepreneurs all over the United States.
  • 17. Each year, we launch 50 New Companies in our community
  • 18. Focus Areas are Healthcare, Digital Media, Social Enterprise and Technology
  • 19. Every Day, Over 150 Individuals are working in our space to start new businesses
  • 20. Nashville Celebrates our Entrepreneurs Hall of Fame and Award Show with Big Business