Innovation mentoring grant proposal 100113 rev 1


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Haverhill's proposal for Massachusetts Technology Collaborative's Innovation/Business Mentoring Grant

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Innovation mentoring grant proposal 100113 rev 1

  1. 1. John Michitson Haverhill City Council October 1, 2013
  2. 2.  Build up regional start-up ecosystems and communities of innovation ◦ To bring 21st century economic opportunities to underserved regions  Building a strong mentoring capability is a key component ◦ Entrepreneurs and startups gain knowledge from successful business executives, serial entrepreneurs, investors, and other industry leaders ◦ Example topics:  Understanding the marketplace;  Attracting capital;  Finding legal, accounting, and other support services;  Navigating the trajectory from startup to growth company  Up to $150K for winners  Haverhill submitted proposal last week  Uncertain when winners will be announced
  3. 3. A Cluster of Entrepreneurs and Talented Workers A Robust and Engaged Education Network and Mentors Collaborative Business Practices and Tools Access to Capital Resources, and Local and Global Markets Vision, Leadership & Social Capital Creative Facilities for Rapid Prototyping & Collaboration Critical Elements of Innovation Ecosystem
  4. 4. Of 134 Massachusetts municipalities surveyed for concentration of manufacturing jobs, Haverhill ranked #85, with 44 jobs in manufacturing per 1000 Residents. How do we compare with some other nearby communities?  Andover #1 (340/1000…Nearly 8 times Haverhill)  Wilmington #3 (291/1000…6.6 times Haverhill)  Bedford #9 (177/1000…4 times Haverhill)  Billerica #12 (138/1000…3.2 times Haverhill)  Chelmsford #16 (122/1000…2.8 times Haverhill)  Amesbury #33  New Bedford #38  Ipswich #42  Lawrence #60 (64/1000…45% higher than Haverhill)  HAVERHILL #85 (44/1000)  Lowell/ Methuen (37/1000…19% below Haverhill) We are an underserved region. Source: “Staying Power II: A Report Card on Manufacturing in Massachusetts 2012”
  5. 5.  Manufacturing companies and other businesses follow the startups to be near “the ideas”  Goal: create 1000 new jobs and attract $3M in new revenue to Haverhill’s industrial base by 2020 Computer & Research Drive: • 2 Lots • Each Lot is $250K Recurring Revenue Opportunity Hilldale Business Park: • Several undeveloped Lots • MVPC Priority Area for Development Example Opportunities
  6. 6.  Creativity of the proposed mentoring approach in addressing your region’s unmet need  Serving its broader innovation ecosystem ◦ Advance, or scale-up activities that embed mentoring as a key support of broader value-add efforts  Aligning with other innovation-driven economic development efforts in your area ◦ Particularly those already supported by state investments
  7. 7. The Haverhill Team (H³C)
  8. 8.  Strengthen the Haverhill Hardware Horizons Challenge (H³C) startup competition ($10K) ◦ To be a sustainable program to attract and retain entrepreneurs and startups ◦ Entrepreneurs and startups are needed as a pre-requisite to mentoring;  Build upon the twenty-five mentors that participated in the H³C;  Build-out the unique Lightspeed MFG manufacturing accelerator and mentoring Lab ◦ Provided top three winners in H³C with up to a half dozen free printed circuit board versions culminating with a working prototype ready for production;  Build-out the Burgess Business Center incubator and mentoring Lab for face to face collaboration and mentor training ◦ Result – in 2 years using innovation-based marketing, attracted 32 startups and small companies, occupying over 30,000 sq. ft. in its building;  Develop an on-line mentor capability based on open innovation ◦ “Ask the audience”;  $246K in-kind matching “funds”
  9. 9. Snapshot of Mentoring Capability Build-Out H³C Startup Competition • $25K prize to winner • Professional Partnering Advisor • Professional Marketing for contest & recruiting businesses to Haverhill Burgess Business Center Incubator & Mentoring Center • 2500 sq. ft. of leased space for mentoring center (to start with) • Unique shared space concept for sustainability (startups, manufacturing companies & mentors co-located) • Professional mentoring development manager • Mentor training • On-line mentoring (ask the crowd) (in-kind) Lightspeed MFG • Professional manufacturing advisor • Capital Equipment Improvement (in-kind) • Purchase of Bare Printed Circuit Boards and Tooling (in-kind) • Purchase of Component Level Packages (in-kind)
  10. 10. Mentoring Development Plan • Catalogue all potential sources of mentors, including: – H³C mentors, – Chamber of commerce, – Local companies such as Lightspeed and Burgess tenants, – Retirees in Haverhill and region; • Develop communication strategies to raise awareness of the project and identify prospective mentors and start-ups; • Ensure that this project is visible in key networks, including MassChallenge and Merrimack Valley Sandbox; • Develop strategies to maximize creative interaction in physical "workspace clusters" • Define and organize the entry process for mentors and start-ups-- intake interview, orientation, matching process, and ongoing training opportunities (in co-ordination with NECC);
  11. 11. [Source: PariSoma in San Francisco]
  12. 12. Backup
  13. 13.  Maximum grant award: $150K ◦ Professional mentoring development manager: $25K ◦ Professional partnering advisor: $25K ◦ Professional manufacturing advisor: $25K ◦ Marketing consultant: $20K ◦ Lease floor space (1 year): $15K ◦ Prizes in next H³C startup competition: $25K ◦ Administration: $15K  In-kind matches: $246K ◦ Lightspeed MFG: $163K ◦ Inkling Inc.: $25K ◦ Jim DiBurro: $25K ◦ John Michitson: $25K ◦ Randy Sablich: $7.5K